Council Tax Benefit.

Are you aware of the way this is worked out? I have checked the figures with a council tax benefit officer and they are as follows:

The first £6,000 of savings are ignored, thereafter the following rules apply:

Pensioners. For every £500 (over £6,000 and under £16,000) you are deemed to receive £1 income per week.  So on £1,000 the interest is perceived to be £104 pa when in fact the interest rates have not produced that amount of cash for many years, and certainly now £10-20 pa is more the norm – and decreasing as I write.

Non Pensioners. For every £250 (over £6,000 and under £16,000) you are deemed to receive £1 income---- per week.  So for every £1,000 the interest is perceived to be a stonking great £208 pa.

Anyone just over the limit might just as well take a holiday!!

And incidentally - if you know where we can get 10% interest on our savings - please, please let us in on your secret.