Capital/Savings
If you have capital/savings over £16,000 you will not be entitled to Housing and Council Tax Benefit.
How we work out how much your capital is worth
- We take the balance of all the Bank, Building Society, Post Office, current account and savings accounts you have along with Premium Bonds, National Savings Certificates, Stocks & Shares, Land or Property, ISAs;
- We calculate the value of your Stocks & Shares at current market value less a 10% reduction for selling costs;
- All your capital/savings are added together to establish a total figure. From the "total figure" a weekly tariff income is then calculated.
If you have capital/savings less than £6000, no tariff income applies.
Under 60
If you are aged under 60 and you have capital/savings between £6,000 and £16,000, under the regulations we have to assume that you get £1 of income per week from every £250 of savings over £6,000. This is your tariff income.
60 and over
If you are aged 60 and over and you have capital/savings between £10,000 and £16,000, under the regulations we have to assume that you get £1 of income per week from every £500 of savings over £10,000. This is your tariff income.
See also
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Contact information
For further information about this page please contact:
Finance & Corporate Services
Greenfield House, Tullibody Road, Alloa, FK10 2AD
Tel: 01259 452047 / 450000 Fax: 01259 452117
Email: corporatedevelopment@clacks.gov.uk
Or use the on-line contact form
