Reduction of capital – Savings Credit

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  • #20284
    Anonymous
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    I’m sorry if this seems to have a similar theme to previous posts, but any help would be much appreciated !

    Customer was claiming HB/CTB based on AIF and Savings Credit only. The capital figure on the AIF was approx £8,000. Claimant then declared that he received some money from the sale of his former property and was no longer entitled to HB/CTB as his capital was in excess of £16,000.
    His capital has now reduced to just below £16,000 and customer has submitted a new claim.
    I have requested AIF and SC details from TPS but obviously the capital now differs. I am of the opinion that we should just use DWP AIF and only need to worry if capital goes over the £16,000. Am I correct ??

    #2633
    Anonymous
    Guest

    Reading Reg 23(8) as a whole, I think I would argue that, once the claimant’s capital goes above 16,000 during a current AIP, the AIF (insofar as it related to capital) ceases to have effect for the remainder of the AIP. I think that is a workable and sustainable interpretation.

    This means that the claimant remains a “standard” claimant as far as capital is concerned until the end of the AIP, but income continues to be based on the AIF – this is because Reg 23(7) & (8) only apply to the amount of capital.

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