Children savings/accounts affect on UC

[Meesha]

Dear members,
I work FT and living in a council home in London with three children all under 15. Some part of my rent is covered by UC. I have recently applied for child maintenance and I plan to put it aside in my children accounts for their future. This is going to be approx £250 each for 3 children. I am aware that child maintenance does not affect UC entitlement. However, I am not aware if funds under children savings/accounts are considered as a capital and affect UC entitlement? Would it be better to open JISA or current accounts for children with access to funds from UC point of view. My eldest is 14 and youngest 10. I would not lock away this amount until their 18s if doable and would like to have prompt access in case we need it. Though we are managing pretty well without child maintenance. Any advise would be greatly helpful. Many thanks!

[secret.simon]

That appears to be a purely finance planning/benefits question and not related to immigration in any way.

This may not be the best forum for such questions. You may want to search online for forums more focused on benefits and financial planning. You may also want to look at consulting your local branch of the Citizens Advice Bureaux.

[Amber]

If the money is in the children’s accounts, they are the beneficial owners, which is what matters for UC, there is a potnetial for a deprivation of capital argument, but thats unlikely in the circumstances, see -https://assets.publishing.service.gov.u ... .pdf#page8