Council Tax and Interest rates
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.
deepikasnv - Fri 23 Mar 2012 11:09 AM GMT
saima - Wed 21 Mar 2012 04:36 AM GMT
aberlebass - Tue 20 Mar 2012 02:26 AM GMT
wandybrad - Sun 18 Mar 2012 04:50 PM GMT
Christine - Sat 17 Mar 2012 06:46 PM GMT