Do I need to tell DWP about my Dad's £1000 cheque gift to me?

[Foebane72]

It's just a cash gift to me as he's "splashing the cash" after the sale of his deceased parents' house, but I don't know if I should declare it to the DWP, because they might then decide I don't need the ESA or HB at all and just use that money instead for a couple of months. I wouldn't put it past them, frankly.

 

What should I do?

[honeybee13]

Which type of ESA are you on please, income related or contribution based?

 

HB

[Foebane72]

Which type of ESA are you on please, income related or contribution based?

 

HB

 

Income based ESA.

[reallymadwoman]

£1000 shouldn't make any difference at all, it's well below the savings limit. If it will make you happier, there's no reason why you shouldn't tell them anyway, but make it clear that it's a one-off gift and not, for example, a contribution toward your living expenses.

[Foebane72]

I don't think I will tell them anyway, unless they ask first. It's really none of their business. I just don't want to be jailed for fraud - as if.

[Shoelover]

Do you have any other savings? If not then it won't make any difference

[Foebane72]

Nope, no other money.

[Shoelover]

Nope, no other money.

 

Well you don't have to tell them as your savings are below the threshold so it won't affect your payments.

[squirrelly Whirley]

As I understand it, if you have over £6,000 in savings, the DWP will taper the benefits you receive down to zero. If your savings exceed £16,000, all benefits would stop entirely, and you'd be expected to live on the interest accrued. (This info is more than 4 years old, but I don't think it has ever been updated in light of the pitiful interest rates offered by banks).

 

As you say, you have no other savings, so this gifted amount falls safely below the lower threshold amount where you would be compelled to inform the DWP.

 

Hope this helps.

[antone]

As I understand it, if you have over £6,000 in savings, the DWP will taper the benefits you receive down to zero. If your savings exceed £16,000, all benefits would stop entirely, and you'd be expected to live on the interest accrued. (This info is more than 4 years old, but I don't think it has ever been updated in light of the pitiful interest rates offered by banks).

 

As you say, you have no other savings, so this gifted amount falls safely below the lower threshold amount where you would be compelled to inform the DWP.

 

Hope this helps.

 

This is still basically correct, and one-off gifts like those described in the OP definitely count as capital/savings, rather than income.

 

I've bolded one part of your post that isn't exactly correct, but is a common misconception so I'm just going to clear it up. You are absolutely correct that savings between £6000 and £15,999 mean a reduction in benefits - the amount (for working age benefits) is £1 per week deducted for every £250 in savings of £6000 or over, but this is not an assumed interest rate. It is the rate at which you are expected to deplete your savings in order to contribute towards your living costs.