UC and savings

[Arthurnewyorkcity]

Probably a dumb question but how does uc work with savings? I know the 6k-16 taper until no entitlement if 16k and fine with anything under 6 but what date do they work it out?

I am over the 6 but it's up and down like a yoyo as its just wants in my bank rather than a savings account. It goes over once paid from work then down once bills are paid. I feel like I'm going to be updating them constantly with my savings number! How often do people update this?

Once you have a UC claim, you have to declare the balance you have on the last day of each assessment period.

@ShutTheFuckUpCakes ah thank you that's good to know so I don't need to update at any other time?

So say your AP runs from the 11th May - 10th June.

On 20th May your account balance was £7k because you got paid by work. But then you paid the mortgage, the car insurance, the balance on your holiday, and by 10th June your balance was £4.5k. You declare the balance on the 10th because that's the key date - they want to know your circumstances on the last day of the AP and then that's what's taken into account for your next payment.

Nope.

@ShutTheFuckUpCakes ahh so so helpful! Thank you for that explanation!

No worries!