Universal Credit boost: Is Universal Credit going up? | Personal Finance | Finance

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Universal Credit is a government benefit paid to millions of Britons each month, boosting low incomes with payments for housing, income support, jobseekers allowance and more. Eligible claimants will receive a standard allowance based on their personal circumstances, and this is dependent on any current earnings.

Circumstances are assessed each month, and any changes can impact how much money you receive.

The amount of money a claimant will receive is made up of a standard allowance and any additional amounts which could be applied.

Top-ups to Universal Credit are paid to those who have children, have a disability or health condition which prevents people from working and for those who need help paying rent.

You can visit the Government’s benefits calculator here — to assess how much you could be eligible for.

Read More: PIP appeal success rate: What percentage of PIP appeals get approved?

As of January 2020, SDP payments had been made manually, instead of being part of Universal Credit.

This meant claimants received two separate payments a month.

Now the system has been simplified, so those eligible will receive an increase to their Universal Credit payments of £120, £285, or £405, depending on individual circumstances.

While not a boost, it has also been announced self-employed Universal Credit claimants will not see the minimum income floor return until April 2021.

This means payments for those who are self-employed will not face a drop this week.

The Minimum Income Floor is an assumed level of earnings and is calculated using the “National Minimum Wage for your age group, multiplied by the number of hours you are expected to look for and be available for work”.

The Minimum Income Floor calculation also includes a “notional deduction for tax and National Insurance”.

The suspension of the Minimum Income Floor was originally due to end on November 12, 2020.

Without the Minimum Income Floor, self-employed people with earnings lower than the Minimum Income Floor may be receiving more financial support through Universal Credit than they would normally have.

However, Work and Pensions Minister Thérèse Coffey has now announced the suspension will be extended.

Dr Coffey said: “After careful consideration of the ongoing public health situation and the national working environment, the current easement of the suspension of the Minimum Income Floor in Universal Credit that was due to expire on November 12, 2020, will be extended to the end of April 2021.

“Regulations will be laid and made prior to November 12, 2020.”




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