Capital

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  • #22462
    Ozzie Bird
    Participant

    Hi

    When determining a claimants capital, I have always taken into account a credit balance in any bank / building society account, but basically ignored any overdrawn accounts and have not deducted them from the total savings amount.

    I’ve now had a query about this and cannot see in the regs any clear directive that I should or shouldn’t take the net balance into account rather than just the credit balance.

    Would appreciate any help me with this.

    Jen

    #8154
    Kevin D
    Participant

    The balance of overdrawn accounts, for HB/CTB purposes, is NIL.

    There is no offset between accounts in credit and those in debit. There is a CD on this – I’ll try and locate it if I have time later.

    Regards

    #8155
    Ozzie Bird
    Participant

    Thank you Kevin, much appreciated.
    Jenni

    #8156
    gerryg
    Participant

    Funnily enough I was just reading another case about capital and it says that the principle that you cannot offset an asset against any liability comes from R(SB)2/83.

    I haven’t got a copy so if anyone can help….

    #8157
    Stephen Murray
    Participant

    Hi Gerry,

    I’ve got a copy of R(SB) 2/83 i could Email to you. Just post your address and i’ll send it off.

    #8158
    gerryg
    Participant

    Hi Stephen

    It’s

    gerry@csanda.com

    Thanks for your help

    #8159
    Stephen Murray
    Participant

    It’s on its way. 🙂

    #8160
    Anonymous
    Guest

    Can I have one too please?

    martin.wale@rbk.kingston.gov.uk

    Thanks

    #8161
    gerryg
    Participant

    cheers 🙂

    #8162
    Stephen Murray
    Participant

    It’s on its way Martin.

    🙂

    #8163
    Anonymous
    Guest

    Thank you kindly. 😀

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