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Pension Pot - Capital or Income.
I think, I’m afraid, that you’ll need to check the sums. If the £13k is right then that shouldn’t count at all. Then you need to look at the amount that’s left after taking into account the £2,500 buffer and the £300 of other income that’s disregarded.
Hi,
Just as an addition to this, Client has been issued with Notice to pay, and has an overpayment of £3700.00. She called Time to Pay and she has been advised that because she has savings of around £12000.00 they are not willing to set up a payment arrangement. Whilst she could theoretically pay it off in one go, does anybody know if there are any ways of getting a payment arrangement in these cases? I had initially worried that she may be seen to be depriving herself of capital by paying it all off in one go, but it would be difficult to prove intentionality.
Ive advised that there may not be anything that’s she can do about it, but thought that its always worth asking.
where do they get £120K from as a figure? it’s not one you’ve mentioned in your posts….
Apologies, that should be £12K not £120K. I added too many 0’s