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Shouldn't capital limits have been increased by now?
- PatGPT
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7 months 1 week ago #289764 by PatGPT
Shouldn't capital limits have been increased by now? was created by PatGPT
Hi,
I was just thinking it's surely been at least 15 years since the last increase in the capital thresholds. If I recall the lower threshold was £3k for those below pension age around the financial crash wasn't it?
When was the last time before that it was increase or was it £3k through the whole of the 90s?
I mean I can't see the government being willing to increase it but surely it should be given how much inflation has eroded savings?
I was just thinking it's surely been at least 15 years since the last increase in the capital thresholds. If I recall the lower threshold was £3k for those below pension age around the financial crash wasn't it?
When was the last time before that it was increase or was it £3k through the whole of the 90s?
I mean I can't see the government being willing to increase it but surely it should be given how much inflation has eroded savings?
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- Chris
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7 months 1 week ago #289771 by Chris
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Chris on topic Shouldn't capital limits have been increased by now?
Hi PatGPT,
I'm only aware of 2 limits. One being £6,000 to £16,000 which affects your universal credit amount, and Housing Benefit are different, You can have up to £10,000 in savings before it affects your claim, if you’re over State Pension age.
I do totally agree if this is what you're referring too, but as for how long this has been in place, I've no idea. I only really started getting familiar with UC from 2020 onwards, and there's so much more when it comes to moderating that I am still to learn. Maybe's one of our other claimants has an idea ? If not, one of the other mods will likely know, as they've years of experience when doing this.
Regards, Chris.
I'm only aware of 2 limits. One being £6,000 to £16,000 which affects your universal credit amount, and Housing Benefit are different, You can have up to £10,000 in savings before it affects your claim, if you’re over State Pension age.
I do totally agree if this is what you're referring too, but as for how long this has been in place, I've no idea. I only really started getting familiar with UC from 2020 onwards, and there's so much more when it comes to moderating that I am still to learn. Maybe's one of our other claimants has an idea ? If not, one of the other mods will likely know, as they've years of experience when doing this.
Regards, Chris.
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- PatGPT
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7 months 1 week ago #289780 by PatGPT
Replied by PatGPT on topic Shouldn't capital limits have been increased by now?
Hi Chris,
I'm saying that the lower threshold was changed from £3k to £6k about 15 years ago.
I'm asking how long it was £3k.
I'm saying that the lower threshold was changed from £3k to £6k about 15 years ago.
I'm asking how long it was £3k.
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- adam33
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7 months 1 week ago #289785 by adam33
Replied by adam33 on topic Shouldn't capital limits have been increased by now?
I think it went up to £6k in 2009 as you say, the £16k figure where it cuts off completely has apparently been the same since 1990
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- Gordon
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7 months 1 week ago #289788 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Shouldn't capital limits have been increased by now?
This topic is not going to go anywhere productive so I am locking it to further posts.
Gordon
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: Chris
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