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Income Related ESA & Savings.
- JJ
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4 years 1 week ago #258522 by JJ
Income Related ESA & Savings. was created by JJ
Hi Team
I understand that the Savings threshold for IR ESA claimants is £16,000 before eligibility is lost. I also understand the tariffed amounts between £6,000 & £16,000. But I am trying to decipher though if the £16,000 is as an annual amount or if the claimant receives staggered amounts throughout a financial year that had to be used for essential items, then if this amount, if added up, would go above £16,000, but this would not have been over the threshold in the bank account due to the essential ongoing spending.
Sorry if the question is not very clear, but basically I am trying to find out if the criteria looks at the level of savings not going above £16,000 at any one time, or if the claimant is generally only allowed £16,000 over a whole year.
Thank you for any advice you can give.
I understand that the Savings threshold for IR ESA claimants is £16,000 before eligibility is lost. I also understand the tariffed amounts between £6,000 & £16,000. But I am trying to decipher though if the £16,000 is as an annual amount or if the claimant receives staggered amounts throughout a financial year that had to be used for essential items, then if this amount, if added up, would go above £16,000, but this would not have been over the threshold in the bank account due to the essential ongoing spending.
Sorry if the question is not very clear, but basically I am trying to find out if the criteria looks at the level of savings not going above £16,000 at any one time, or if the claimant is generally only allowed £16,000 over a whole year.
Thank you for any advice you can give.
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- Gary
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4 years 1 week ago #258523 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Income Related ESA & Savings.
Hi JJ
Entitlement stops as soon as you go over £16,000, it is not averaged out over a year.
www.entitledto.co.uk/help/savings
Gary
Entitlement stops as soon as you go over £16,000, it is not averaged out over a year.
www.entitledto.co.uk/help/savings
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- JJ
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4 years 6 days ago #258531 by JJ
Replied by JJ on topic Income Related ESA & Savings.
Thank you Gary
I don't really understand the answer sorry.
So if someone, for example, had £14,000 & had to spend say £2,000 on white goods, then in the same year had another £3,000 as a gift from a will, the £3,000 then would not be considered as taking them over the £16,000 limit.? (ie: £14,000 + £3,000).
I don't really understand the answer sorry.
So if someone, for example, had £14,000 & had to spend say £2,000 on white goods, then in the same year had another £3,000 as a gift from a will, the £3,000 then would not be considered as taking them over the £16,000 limit.? (ie: £14,000 + £3,000).
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- freefee
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4 years 6 days ago #258538 by freefee
Replied by freefee on topic Income Related ESA & Savings.
are there savings limits if you are in the support group, but it is contribution based ?
Your (or your partner's) income and savings will generally not affect how much contribution-based ESA you're paid. ... There's no time limit if you're in the support group or if you're getting income-related ESA. This may carry on beyond 12 months, provided you still meet the qualifying criteria.24 Mar 2021
Your (or your partner's) income and savings will generally not affect how much contribution-based ESA you're paid. ... There's no time limit if you're in the support group or if you're getting income-related ESA. This may carry on beyond 12 months, provided you still meet the qualifying criteria.24 Mar 2021
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- Gary
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4 years 5 days ago #258569 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Income Related ESA & Savings.
Hi JJ
If you had £14,000 and spent £2,000 then you would have £12,000, if you then received another £3,000 you would then have £15,000, not over the limit so you would still be eligible to continue to receiving any IR benefits.
If you have £14,000 and receive £3,000 you would then have £17,000 which would make you ineligible to receive any IR benefits.
Gary
If you had £14,000 and spent £2,000 then you would have £12,000, if you then received another £3,000 you would then have £15,000, not over the limit so you would still be eligible to continue to receiving any IR benefits.
If you have £14,000 and receive £3,000 you would then have £17,000 which would make you ineligible to receive any IR benefits.
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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4 years 5 days ago #258570 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Income Related ESA & Savings.
Hi freefee
The limits only apply for Income based benefits such as IR ESA, UC, HB. If you are in receipt of a contribution based benefit such as CB ESA then your savings are not taken into account.
Gary
The limits only apply for Income based benefits such as IR ESA, UC, HB. If you are in receipt of a contribution based benefit such as CB ESA then your savings are not taken into account.
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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