Welfare Benefits and Tax Credits Handbook 2021/22Part 2: Universal creditChapter 8: Capital 6. How capital is valued
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Welfare Benefits and Tax Credits Handbook 2022/23

6. How capital is valued
Market value
Your capital is valued at its current market or surrender value.1Reg 49(1) UC Regs This means the amount of money you could raise by selling it or raising a loan against it. This is the price that would be paid by a willing buyer to a willing seller on a particular date.2R(SB) 57/83; R(SB) 6/84 So if an asset is difficult or impossible to realise, its market value should be heavily discounted or even nil.3R(SB) 18/83
If you cannot legally dispose of capital (eg, because of a restraint order), the market value is nil.4CS v SSWP [2014] UKUT 518 (AAC)
In the case of a house, an estate agent’s figure for a quick sale is a more appropriate valuation than the district valuer’s figure for a sale within three months.5R(SB) 6/84
It is not uncommon for an unrealistic assessment to be made of the value of your capital. If you disagree with the decision, you could ask for a revision or appeal (see Chapters 56 and 57).
 
1     Reg 49(1) UC Regs »
2     R(SB) 57/83; R(S
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