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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Bankruptcy Law
Satisfied Customers: 9577
Experience:  Dual qualified Solicitor and Attorney
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Universal credit, England, None, No

Customer Question

Universal credit
JA: Where is this? It matters because laws vary by location.
Customer: England
JA: What steps have been taken so far?
Customer: None
JA: Is there anything else the Lawyer should know before I connect you? Rest assured that they'll be able to help you.
Customer: No
Submitted: 12 days ago.
Category: Bankruptcy Law
Expert:  MatthewM1117 replied 12 days ago.

Good afternoon, thank you for contacting Just Answer my name is***** am a solicitor and I will be assisting you today. Can you clarify your question so that I can best advise you?

Customer: replied 12 days ago.
Hello,
The universal credit states you can't have more than 16k in savings. I am unsure what they consider as savings.
My husband passed away 2 years ago and I got his pension of 230 a month plus a lump sum payment of 40k. I have sent 30k to my elderly father abroad as I owe him money. In the meantime I started being self employed and currently have around 16k on my business bank account. I still need to pay tax return for this year.
Not sure how uc deals with this? I also have 7.5k on other account and need to send my father 10k more. Thank you for your help.
Expert:  MatthewM1117 replied 12 days ago.

Thank you for the confirmation, unfortunately this strays outside the scope of my expertise therefore I am required to opt out to allow another expert to assist you on this matter.

Customer: replied 12 days ago.
The question us does universal credit classifieds business bank account as savings and also does lump sum which is a pension affect anything as obviously it is on my bank account statements so not sure if I'm entitled to uc.
Customer: replied 12 days ago.
Many thanks
Expert:  TetyanaP-admin replied 12 days ago.
Hello,
It seems the professional has left this conversation. This happens occasionally, and it's usually because the professional thinks that someone else might be a better match for your question. I've been working hard to find a new professional to assist you with your question, but sometimes finding the right professional can take a little longer than expected.
I wonder whether you're OK with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.
Thank you!
Tetyana-moderator
Customer: replied 12 days ago.
I OK to wait thanks
Expert:  Jeremy Aldermartin replied 11 days ago.

Hi thank you for your message, please note that I will look to provide an accurate but nevertheless speedy reply to your inquiry. I will endeavour to help you today.

Expert:  Jeremy Aldermartin replied 11 days ago.

In essence, any money you do not currently have does not count towards the savings amount e.g. the 30k gifted to your father does not count. Whilst the money in your business account does not count as it is the businesses money not yours until you pay it out to yourself as salary or dividends. Therefore, you do not have 16k or more in savings. I trust this assists