Universal Credit Savings

[Rookie1506]

I declared savings of £7000 to UC in feb 2023 and thought I had kept under this amount or so I thought having checked my statements there are a few occasions where I have gone over without realising and did not report it as I didn’t realise it was over. I have been sent a tax rebate which will probably take me over the £7k already reported which I will report upon receipt. My savings are currently under the reported £7k at present. What will they do about the few occasions that it went over £7k. I did not realise savings should be reported to UC every month.

It's 6k not 7 and they'll need to recalculate the amount of uc you received. For each 250 over 6k it's a £4.35 deduction.

It's 6k that doesn't effect, so they'll need to recalculate your uc and you'll need to repay the months you were over 6k. I think it's like £4/5 every £500 or so.