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Notes about Capital »
What counts as capital?
Your capital is the total of any savings plus money you have in banks or building societies plus any savings bonds. If you have any stocks or shares 90% of their value counts (to allow for a 10% sales commission). It does not include the value of the house you live in or any of your personal possessions. If you own any land or property overseas this also counts as capital. You can not include the value of debts or overdrafts to reduce your capital total.
Who's capital counts?
All capital belonging to you or your partner counts. If have children, they can have capital of up to £6,000 each without it affecting your claim.
Why do I need to declare my capital?
Housing Benefit and Council Tax Benefit are "Means Tested" benefits. This means that your savings and capital need to be checked to see how much help you need.
What happens if I have some capital?
If you and your partner are aged less than 60, capital up to £6,000 makes no difference to your claim. If you or your partner are aged 60 or more, capital up to £10,000 makes no difference to your claim. Above those levels, your capital is assumed to give you a small income every week. This can make a difference to the weekly benefit you might get.
Is there a limit to how much capital I can have?
Most people do not qualify for Housing Benefit or Council Tax benefit once their capital reaches £16,000. Only people on Guarantee Pension Credit can get benefit with capital over £16,000 - although they still have to declare it.
Can't I just spend the capital to get benefit?
No. If you spend you capital just to get benefit (or get more benefit) you will be treated as though you still had the capital.


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