elly_89
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Everything posted by elly_89
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So if my sons savings in his regular account where you can withdraw anytime reaches £3000 it will affect the applicable amount? It wasn't counted as part of my capital though but I can't remember if they even asked about my son's savngs account when i applied, but i did declare it.
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I'm one of them people that overthinks and gets paranoid about everything like what if they forgot to update the website about ctf etc. Do you know if i transfer it to junior isa which was made for kids not entitled to ctf, that too would not affect my benefits, i can't find any info about it.
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forums after googling and some council websites which mentioned about child's capital of over £3000 may affect applicable amount. i recently remembered my son has a child trust fund, i didn't open it the government did. I claim housing benefit and I declared his regular savings account which has £2300 which you can withdraw from at anytime but i didn't declare his ctf as i genuinly forgot he had it and old letters were sent to old address but after seeing an article about ctf i contacted hmrc to get the details. Have no idea how much is in it, but i'm abit worried that if its over £700 he may have capital of more than £3000 I did look on gov website and it does say that ctf does not affect any benefits or tax credits parents receive but it still doesn't stop me from worrying.
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Just a general question, i've heard childrens savings accounts with £3000 or more affects parents benefits such as housing benefit. If it's held in a child trust fund opened by govenment or junior isa, both which can't be accessed until child turns 18, are they also considered. Or just standard accounts?
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