By Helen Wild, DSA Benefits Adviser
17 October 2023
Universal Credit (UC) are rolling out their managed migration, moving people from Tax Credits and on to Universal Credit.
Some people will have received a letter explaining what to expect in the next few months.
You will eventually receive a migration notice and you will need to apply by the specified date in this letter.
It is important that you do not ignore this letter.
Savings
Tax credits allowed people to have savings.
However, Universal Credit takes savings into account. For the first 12 months of your new UC claim, any of savings £16k or more will be disregarded under transitional regulations.
Savings between £6k and £15,999 will be taken into account and will reduce a person’s UC by roughly £4 for every thousand pounds over £6,000.
Please call our Helpline to talk to Helen directly if you have any questions on this issue. Ring 0333 1212300 or email helen.wild@downs-syndrome.org.uk.
Helen is available on Monday and Thursday from 10am-4pm and on Tuesday and Wednesday from 10am-12.30pm.