To ask if we will still be entitled to anything?

[ExpectingToBeBashed]

We currently receive a hefty amount of child tax credits as one dc is severely disabled. We will have to move to universal credit by sometime next year and it looks like we will get nothing under the universal credit system as we own our home and have some savings.
I've read that there is transitional relief for those who will be worse off but I don't know what that actually means.
Is anyone else in this situation or knows the answer?

Owning your home has no impact

and how much in savings? Starts tapering at £6k and ceases at £16k

https://revenuebenefits.org.uk/universal-credit/guidance/existing-tax-credit-claimants/managed-migration/transitional-protection/

Good article which answers lots of the common questions.

May not be relevant to OP as she will be moving under managed migration by the sound of it.

DLA isn’t means tested 😐

Only lasts for short period of time and then UC conditions apply

otherwise what would be the point of moving over to UC if just going to continue to be a two tier system?!

Under managed migration, tax credit claimants are protected from the capital ceiling in universal credit for up to 12 assessment periods from the date of their universal credit claim. The disregard only applies if the claimant is entitled to an award of tax credits and has capital exceeding £16,000 on the migration day. Migration day is the day before the first day on which the claimant is entitled to universal credit in connection with that claim.

so one year until Uc condition kicks in

Owning your home makes no difference, that only matters for housing benefit purposes.

With savings, you can't have more than £6k.

Wrong

you can have savings over £6k but UC reduces
ceases at £16k savings

I think any savings over 16k will be protected for 12 months under transitional rules. After that if you still have savings over 16k then Uc would end. i guess you would possibly need to show that you have not intentionally got rid of savings/ assets in order to continue to claim benefits. As others have said things like DLA, carers allowance etc could continue after the 12 months as non means tested.

Yes exactly and we've had this ridiculous two tier system for way too long where those on the old system can inherit large sums of money and it not affect, their benefits or can save for a house and it not affect their benefits ( not saying it's wrong that people can save for a house, just that why should people on the old system be able to do this whilst those on Uc can't ? ). Currently there are so many ways that people on tax credits benefit more than those on UC, it's just so unfair.

I know!

I'm asking about child tax credits which are changing to universal credit.

Thank you, some very helpful replies.

Our savings will in the next year or two drop as we are planning to replace windows and our (old) car will need changing as soon as something major wears out!

I thought that owning our home outright would exclude us from being entitled to anything under UC.

No - as long as you are living in it.

You will still get DLA, as this isn't means tested.

Transitional protection lasts until it is eroded - this can be if other elements get added on or by the (usually) annual benefit upratings for example. It could take quite some while to be all eroded.
The capital provisions last for a year.
See the link I posted.

Best thing to do is to use a benefits calculator such as entitledto.co.uk
You can put in your circumstances in as they are now and how you expect them to be at the time you change over. I've found it very accurate for mine.
If you're still on UC and the savings drop below 6k, make sure to update them so any reduction in your payments stop.

@CoffeeLover90
Benefits calculator is not accurate regarding transitional relief for legacy benefits moving over to UC.

And it was capital provision point by a PP that I was responding to

I wasn't asking about DLA.

If you do an online calculator that will be your entitlement after the 12 months transitioning period . That will at least give you an idea

It's only a 12 month limitation for the capital provisions. The transitional protection for the overall entitlement remains until it is eroded over time.