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Grant from TFL scrappage scheme and change of circ

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4 years 8 months ago #252566 by CG31
Grant from TFL scrappage scheme and change of circ was created by CG31
Hi,
A friend hopes to receive a grant from TFL to scrap his car. Will this be considered a ‘change in circumstances’? Also, It is likely to take his savings over the £6000 limit temporarily? He’s planning to use the grant to buy another car.
Thank you

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4 years 8 months ago #252571 by latetrain
Replied by latetrain on topic Grant from TFL scrappage scheme and change of circ
Hi CG31

It's not a change of circumstances, but it may bring into force Tariff Income.
www.entitledto.co.uk/help/savings-assumed-income

It would depend on your friends age, how long he would go over £6k.Your friend if under state pension age should inform relevant authorities of any increase he has in savings that take him above the threshold, his means tested benefits would be affected by Tariff income.

Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems

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