loan

I am on UC, I have just given my son a loan for 2000 pounds interest free and he will pay me back slowly, I have informed UC, is this still classed as me having capital ?

Hi saud
Yes, it would be classed as notional capital, if your total capital is below £6k, then your UC will not be affected.

Between £6k and £16k, every bundle or part bundle of £250 over £6k you will lose £1.00 pw in tariff income. If you have over £16k, then you will lose your means tested benefits.

Gary

for every 250 pounds over 6000 , inches thought they cut 4 pounds 25 pence ?

Hi saud

£1.00 per week is equivalent to £4.33 per month. As UC is paid monthly the they would deduct £4.33 per month for every £250 bundle or part bundle over £6,000.00.

Gary