Clackmannanshire Council Online

Capital/Savings

Capital/Savings

If you have capital/savings over £16,000 you will not be entitled to Housing Benefit and Council Tax Reduction unless you are aged 60 or over and receiving Guarantee Pension Credit.

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 and shares, land or property, ISAs;
• We calculate the value of your stocks and 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 qualifying state pension age

If you are under the qualifying state pension age 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.

Over qualifying state pension age

If you are over the qualifying state pension age 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.