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Universal Credit: Jointly Owned Capital

How Universal Credit is affected if you have jointly owned savings and other capital

For Universal Credit you and/or your partner must provide evidence of any savings and other capital that you jointly own with someone else. This evidence may include:

  • property deeds or valuations
  • investment and share certificates
  • bank, post office and building society accounts or statements
  • joint/mutual trust fund documents
  • proof of rent payments from a second home

Capital jointly owned with a partner

If you have a partner, the combined amount of capital you own is taken into account when deciding how much Universal Credit you will get. This is the case whether or not the partner is entitled to Universal Credit.

Capital jointly owned with people other than your partner

If your capital is jointly owned with one or more people (for example, your sibling or a friend) you will need to confirm your personal share and provide evidence of this.

You and the other joint owners will be treated as having equal shares. If you own less than an equal share of the capital, you will have to supply more evidence of your actual portion such as:

  • court orders
  • solicitors letters
  • a will

Only your actual share of the capital will be taken into account if this is accepted and supported by the evidence. If you cannot provide evidence, you and the other joint owners will be treated as having an equal share of the capital.

Capital on separation, divorce or civil partnership dissolution

If you are separated, divorced or your civil partnership is dissolved, the amount of jointly owned capital you get may be decided:

  • by court order
  • on the advice of solicitors
  • between you and your ex-partner

If the amount of capital you get has been decided by the courts or solicitors, only the amount awarded to you will be taken into account.

If you and your ex-partner decide between you what share of the capital you will get, this amount will be taken into account if Universal Credit considers it reasonable. If the evidence suggests you have received a reduced share to get, or increase your Universal Credit, you may be treated as having notional capital.

Jointly owned capital outside the United Kingdom

If you have jointly owned capital outside the United Kingdom, this will be worked out by taking into account:

  • the market value in the country where it is held, providing there is no prevention against a transfer from the country where it is held
  • the amount it would raise if sold in the United Kingdom, if there is a prevention against the transfer from the country where it is held

If capital is held in another currency it is calculated after the deduction of any banking charges or commission that is payable when converting into sterling.