UC with foreign savings

[Expat_pat]

Hey guys,

I have a little over 16k in a foreign bank account but will need it to travel back and tying up all loose ends, sending possession's back to the UK etc will also cost. Plus transferring it over will incur fees. Basically I'd rather keep it abroad and start fresh here.

I would like to get UC until I can secure some work. I will be going temp or anything that I can get as soon as I can find something.

Question is - can DWP check accounts abroad? (Non EU country).

Thanks U75

 

[gentlegreen]

They're ALL non-EU countries now.

Why is the DWP an issue if you've managed to satisfy the requirements to migrate here ?

EDIT :-

Oh I see - you were born here and are moving back ...

All I know is when I move to France I would be in massive trouble if I don't declare all my bank accounts for the annual tax assessment.

 

[Expat_pat]

They're ALL non-EU countries now.

Why is the DWP an issue if you've managed to satisfy the requirements to migrate here ?

EDIT :-

Oh I see - you were born here and are moving back ...

All I know is when I move to France I would be in massive trouble if I don't declare all my bank accounts for the annual tax assessment.

The country the account is in is non EU.

Thanks for the input.

 

[gentlegreen]

I sympathise though - with regards being obliged to fall back on modest savings ...

 

[Riklet]

I just wouldnt tell them and crack on. If you wanna be super honest spend that extra money asap while applying. Doesnt sound like an issue given the costs youve mentioned.

I would be more cautious if you are planning on moving all the money to the UK though.

 

[Puddy_Tat]

DWP do have the right and ability to share info with credit reference agencies.

I'm too long out of the game to know whether they can get info about non UK accounts, or whether they check retrospectively even after you've got a job / signed off.

If the accounts they do know about start showing payments in / out of other accounts that you haven't told them about, they are likely to ask questions.

I'm not going to moralise, but be aware that not declaring income / savings when claiming means tested benefits can be prosecuted as fraud, and result in a criminal conviction / record - it's not just a case of having to pay them back if you get caught.

I also have a feeling that there are some limitations on claiming benefits, even if you're a UK national, if you've been out of the country for some time. There's more about it all here.

also, if you do spend money so as to get just under a threshold for benefits, they are likely to ask what you've spent it on - some things (meeting ordinary living expenses if you've got no other income) would probably be seen as reasonable, some things (like giving money to family) would almost certainly not. I'm not up to date with it all so can't offer more detailed advice.

 

[pseudonarcissus]

HMRC would "automatically" informed of the presence an overseas bank account. Not how much is in it. I think it depends on the bank/juristiction as to how easy it would be for HMRC to get that information. I get the impression my offshore bank would not hand over such information willingly. (I'm not a UK resident, fortunately)

I'm not sure whether DHSS (I know it's not called that now) would automatically be told of the overseas account...I guess they would be about UK accounts.

Will your UC be contributions based to start with...ie will they take savings into account, or would you have a window to wind things down? The fees for transferring through transferwise are tiny...or through a broker...just avoid most banks sending a SWIFT payment. If you are re-establishing yourself in the UK 16k won't go very far if you have to pay a deposit to rent a flat...or to buy a car.