2007-02-19 07:20:42 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United Kingdom
Depends on which benefit. They have different threasholds before they take into account any capital. Then they take so much off your benefit eg £1.00 for every say £500 you have Disability benefits have completely different rules to others such as job seekers, income support housing benefit etc.
2007-02-19 12:17:20 · answer #1 · answered by stormydays 5 · 0⤊ 0⤋
Can have savings upto £2999.99 once you have £3k its £1 deducted for every £250.00 upto £8K when benefit would stop, this is for Income Support & JSA(IB).
Contact your local Jobcentre they'll be able to give you a better idea as you've notsaid what benefit your on
Please don't try & hide it in a bank account, Inland Revenue have access to al bank accounts & they share info with benefits so eventually end up being caught, then havin to pay it all back with maybe a prison sentence....really is it worth it
2007-02-20 14:41:31 · answer #2 · answered by andrea b 3 · 1⤊ 0⤋
It would help to know exactly what kind of benefits you are talking about. The rules are different for benefits. SSA? Welfare? What benefit?
2007-02-19 15:29:37 · answer #3 · answered by juncogirl3 6 · 0⤊ 0⤋
No, as you will have money to live on, and no longer need financial support.
I belive the maximum amount of savings you are legally allowed to have is around £5000
2007-02-19 15:38:50 · answer #4 · answered by gemheinz 3 · 0⤊ 0⤋
Rules are you can cash up to 8,000
2007-02-19 15:27:19 · answer #5 · answered by Geoff E 4 · 1⤊ 0⤋
NO U WONT BE ABLE TO, SO I WOULD JUST OPEN A SAVING ACCOUNT UP AND DONT TELL THEM.
2007-02-19 15:28:35 · answer #6 · answered by Don 4 · 0⤊ 2⤋
depends on wht you have had !
2007-02-21 11:56:40 · answer #7 · answered by FRANK W 2 · 0⤊ 0⤋