How savings and capital affect your benefits entitlement

How savings and capital affect your benefits entitlement

The amount of Council Tax support or Housing benefit you will get depends on the savings and capital you and your partner have.

Savings and capital include:

  • Bank and building society accounts, including current accounts
  • National savings accounts, certificates
  • Premium bonds and Income bonds
  • Stocks and shares 
  • ISAs 
  • Unit trusts 
  • Money held in a trust
  • Land or property, even if you don’t own it outright (but not the home you live in).

How savings and capital affect your benefits entitlement

Savings and capital Amount of Council Tax support/Housing benefit
People of working age
£6,000 or less Full amount you can receive
Between £6,000 and £16,000 Reduced on a sliding scale depending on amount of savings and capital
£16,000 or more None
People of state pension age
£10,000 or less Full amount you can receive
Between £10,000 and £16,000 Reduced on a sliding scale depending on amount of savings and capital
£16,000 None

Remember that the amount of Council Tax support or Housing benefit you receive can also depends on other things.