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Reporting that your situation is changing

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2 months 5 days ago #295939 by Mike
Reporting that your situation is changing was created by Mike
Hi, how long do you have to report your situation is changing? I received some money as an inheritance in August but most of it was spoken for, ie. debt. and funds for a business I am trying to get off the ground. So I didn't report it then, because it hadn't changed my situation. Then, I received the second half at the start of October. This MAY change my situation, if the business takes off, but if it doesn't, then I'm back to square one. Anyways, I'm trying to come up with the best way to present this as I need to show my accounts before the end of the month, and I wondered how to approach it. I'm receiving universal credit. Thanks, Mike
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2 months 5 days ago #295943 by Gary
Replied by Gary on topic Reporting that your situation is changing
Hi Mike

Welcome to the forum.

You might want to have a look at the following FAQ which explains where everything is; www.benefitsandwork.co.uk/guides-for-claimants/faq/forum.

As soon as your savings go over £6k then you should report a change of circumstances as you will be affected by tariff income. If your savings go over £16k then you will no longer be entitled to claim UC.

We would advise you to seek advice from your local Welfare Rights Organisation, they will be able to take all your circumstances into consideration when giving you advice; advicelocal.uk

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