Working tax credit and savings

[ParsleyTheLioness]

Please help me clarify. Do savings affect this? Friend states they were asked about this when making a claim. I never remember being asked this. Has this altered recently? Confused somewhat...

They ask about income from savings, not how much you actually have in savings.

Ah, that makes sense Rock...well that's pence then for me, interest rates being what they are! Thanks. Do you know what the threshold is out of interest?

I think it's around £300 per year of additional income which is disregarded, and the interest from savings is under that umbrella.

When UC comes in I believe savings are taken into account

If you have savings of 5,999k and under then eligibility for universal credit is unaffected. If yu have savings of 6k-15,999k then you will get some credits but they will not be full entitlement depending on your amount of savings. If you have savings of 16k + then you will not receive any of the child tax/working tax credit part of universl credits even if your income is under the threshold.

Ok, so savings under £6,000 unaffected then.

As I understand it, if you have savings under 6k then they are in counted and credits are unaffected by this

Ok, thanks for that.