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Capital
- Julie
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10 years 4 months ago - 10 years 4 months ago #131115 by Julie
Capital was created by Julie
I was awarded a back payment of just over £4000 last year. On my new ESA award they have
taken £ 20 a week from me because of this. My partner has an ISA for £6000 is this the
correct amount. I had waited for 2 years for that money so would not have accrued that
amount in any other circumstances. I know to some reading this it must sound like we are loaded
but i have worked and stupidly didnt pay into an NHS pension i am 61 and am going to be a very
poor pensioner. My partner was made redundant and despite trying has not secured full time
employment and only does casual work. Thanks
taken £ 20 a week from me because of this. My partner has an ISA for £6000 is this the
correct amount. I had waited for 2 years for that money so would not have accrued that
amount in any other circumstances. I know to some reading this it must sound like we are loaded
but i have worked and stupidly didnt pay into an NHS pension i am 61 and am going to be a very
poor pensioner. My partner was made redundant and despite trying has not secured full time
employment and only does casual work. Thanks
Last edit: 10 years 4 months ago by . Reason: Tick.
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- Gordon
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10 years 4 months ago #131132 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Capital
Julie
I cannot give you a definitive answer as we cannot give detailed answer to financial questions on the forum, if you are concerned that the amount is incorrect then you need to get face to face advice from a qualified advisor who can go over the figures with your. Do an internet search for "welfare advice" with your postcode, town or county.
Standard practice is to disregard benefit back payments for 52 weeks, if your payment was made more than a year ago then this payment will now be treated as capital. See
Asset rule for ESA(IR)
If they are deducting £20 per week then this would imply that you have savings and assets of about £11,000 (£6000 + 20 x £250 = £6000 + £5000 = £11,000)
Your partners ISA will be included in the calculations.
Gordon
I cannot give you a definitive answer as we cannot give detailed answer to financial questions on the forum, if you are concerned that the amount is incorrect then you need to get face to face advice from a qualified advisor who can go over the figures with your. Do an internet search for "welfare advice" with your postcode, town or county.
Standard practice is to disregard benefit back payments for 52 weeks, if your payment was made more than a year ago then this payment will now be treated as capital. See
Asset rule for ESA(IR)
If they are deducting £20 per week then this would imply that you have savings and assets of about £11,000 (£6000 + 20 x £250 = £6000 + £5000 = £11,000)
Your partners ISA will be included in the calculations.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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