Universal Credit: Millions could be missing out on extra help following rule change | Personal Finance | Finance
Nearly six million people are claiming Universal Credit but another one million Britons could be eligible for the benefit without knowing, following changes introduced by Chancellor Rishi Sunak in his autumn budget. Households with an income of up to £50,000 could now qualify for some additional help.
As Britons struggle to meet living costs, experts are reminding people to double check they are receiving all the Government help they are entitled to.
Financial journalist Martin Lewis said households who are earning £30,000 per year should check if they could benefit from a Universal Credit top up.
Depending on someone’s circumstances, a single parent household with an income of £50,000 might now be entitled to the benefit.
Speaking on ITV’s The Martin Lewis Money Show, he said: “Millions of you are missing out on support you are entitled to.”
The Money Saving Expert founder continued: “Some single parents could qualify for it even if their income is up to £50,000.”
He explained working households may now qualify for extra support because the taper allowance and work allowance have increased.
The taper allowance will change from 63p to 55p, meaning people can earn more before it is clawed back.
This means that for every £1 they earn over their work allowance (if they are eligible for one) their Universal Credit will be reduced by 55p instead of 63p.
The work allowance is also increasing and is now £557, up from £515. (If people get help with their housing costs it’s £335, up from £293.)
People who have stopped receiving Universal Credit should reapply as they might now come under the threshold.
Universal Credit can also open up the door to other Government help like free prescriptions and a council tax reduction.
