It’s estimated that one million people in the UK are missing out on an average of £50 a week by not claiming the tax credits they’re entitled to. This is by no means small change. This is especially true if they’re struggling with debt problems.
Due to recent government changes, once Universal Credit gets rolled out to your local Jobcentre Plus, you’ll no longer be able to start claiming tax credits.
As of April 2016, the amount that you can claim in Universal Credit is less than the equivalent claim in tax credits. Therefore, it’s important for you to start claiming tax credits before your Jobcentre Plus moves to Universal Credit.
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UPDATE: This article was published in July 2015. Make sure you’re up to date with the 2016 benefit changes and how they may affect you.
The July Budget revealed plans to reduce welfare benefits by £12bn. There are two questions that are likely to be on your mind if you’re on a debt management plan (DMP). Firstly: what benefits are going to be affected? Secondly: how will these changes impact my finances and my DMP?
We’ve summarised the biggest changes, when they’re going to happen and who’s likely to be affected by them. We’ve then covered some likely questions that might crop up if you’re on a DMP.
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posted by James in Debt news
What is universal credit?
There are lots of changes coming to the UK benefits system this year.
One of the biggest changes will be the introduction of Universal Credit.
We’ve put together this handy guide to help you understand the basics and hopefully help you navigate the changes.
posted by James in Budgeting
You might be eligible for more than you thought
We often hear about people going to prison because they’ve fraudulently claimed benefits, but what about those that don’t claim benefits that they could?
Every year, people in the UK are missing out on benefits and tax credits worth over £10 billion. Much of this money goes unclaimed because people are too proud to claim. Continue reading »