Universal Credit Income and Capital - Capital/Savings

Any capital/ savings you have under £6,000 is ignored.

Any capital/ savings you have between £6,000 and £16,000 is treated as if it gives you a monthly income of £4.35 for each £250, or part of £250, regardless of whether it does or not.

Example 

If you have £6,300 in a savings account, £6,000 of it will be ignored and the other £300 will be treated as giving you a monthly income of £8.70.

If you have capital/savings over £16,000 as a single claimant or as a couple you will not be entitled to Universal Credit.

Some capital can be ignored when working out if you are entitled to Universal Credit.

If you are a member of a couple but have to make a claim as a single person, your partner's capital/savings will still be taken into account.

You can use the Turn2us Benefits Calculator to see exactly how much will be deducted from your Universal Credit because of your savings.

Use the Turn2us Benefits Calculator