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Friday, February 3, 2023

Millions To Be Given Up To £2,000 In Extra Cost Of Living Cash This Year

Families will receive additional financial support worth up to £2,000 this year.As cost of living crisis deepens in these harsh winters Energy bills soarmany struggling families will want some extra help as soon as possible.

The government has promised more help for the lowest earners, including working families, the vulnerable and disabled, and pensioners. Chancellor Jeremy Hunt said: “I know these are difficult times for families across the UK as they struggle to cope with rising food and energy costs caused by the aftershocks. Coronavirus And Putin’s war in Ukraine. “

As part of this, levels of all state support – including benefits, allowances, tax credits, sick pay and state pensions – will increase by 10.1% from April.this includes universal credit, a benefit paid primarily to people of working age. On top of that, there will be five new living cost payments in the next financial year and the energy rebate will continue in the final three months.

read more: 2.4million to lose up to £1,500 after making ‘decisive decision’

10.1% increase in payments in April

all DWP and HMRC April payments will increase and include tax credits, state pension, child benefit and all other government social security payments. As part of this, the universal credit element will be boosted.

latest data from Department for Work and Pensions shows that 5.8 million people applied for Universal Credit, of which 2.2 million found jobs and received benefits to top up their wages. Half of households receiving Universal Credit have children.

Average monthly payments on Universal Credit range from £580 for singles without children to £1,060 for couples with children, According to Gov.UK statistics. That’s all changing from April next year – here’s what you can expect to see payment increases and other financial support in the next financial year.

The exact amount will vary depending on your application, but for example a working couple over the age of 25 with two children could receive an additional Universal Credit of around £100 per month. The reward is greater if the child has a disability or limited ability to work. Those with children will also be eligible for the maximum child benefit. The growth of Universal Credit is as follows:

standard monthly allowance

  • Singles under 25 – from £265.31 to £292.11
  • Singles aged 25 or over – up from £334.91 to £368.74
  • Couples under 25 – from £416.45 to £458.51
  • A couple or couple aged 25 or over – from £525.72 to £578.82

sub amount

  • First child (born before 6 April 2017) – increased from £290 to £315
  • First child (born on or after 6 April 2017) / second and subsequent children (exceptions or transitional provisions apply) – increased from £244.58 to £269.58

disabled children added

  • Lower surcharge rate – increased from £132.89 to £146.31
  • Higher rate increase – from £414.88 to £456.89

LCW/LCWRA

  • Limited capacity to work – increased from £132.89 to £146.31
  • Limited capacity to work and work-related activities amount – increased from £354.28 to £390.06

Nursing amount

  • From £168.81 to £185.86

complete guide Other benefits increased, see our full list here

Benefit cap changes – an additional £193 per month

The government has decided to raise the benefit cap from April next year, meaning those who lose their jobs can keep more of their payments, rather than being deducted. Introduced in 2013, the cap was designed to give claimants no better off receiving state support when they were not working, and fell to current levels in 2016, with campaigners calling for it to be amended to match The current cost of an existential crisis.

universal credit is one of the benefits affected by the cap. Others include Employment and Support Allowance, Housing Benefit, Income Support, Jobseeker’s Allowance, Child Benefit and Child Tax Credit.you can Read more about the benefit cap increase and what it means for you here.

Energy rebate £201 (three payments £67)

This is paid to all households that have a household electricity account, so it will include those households that are receiving Universal Credit. The £400 energy rebate starts in October 2022 and runs until 2023, with energy companies paying £67 to customers in January and then again in February and March until it’s all over.

How you get three payments of £67 depends on how you pay for your energy. Those who paid by direct debit usually get it back in their bank account in the form of a monthly payment deduction or refund. Smart prepaid meter customers will see the discount credited directly to their meter, while traditional prepaid meter customers will receive vouchers that can be redeemed at local top-up points.

The government says the scheme will not run into the next financial year, but is considering introducing New social tariff sometime in 2024 Help those with the lowest incomes. Expect to reduce your bill by around £1,000.

Total living expenses £1,350

Further financial support will be provided to struggling families in the next financial year. In 2023-24, around 8 million UK households receiving means-tested benefits will receive an extra £900 supplement for living costs. It will be produced in three installments.

The details and date of the payment have not been released. People receiving disability allowance will get a one-off extra £150, while pensioners will get another extra £300. Winter fuel payment.

The exact payment window will be announced as it approaches, but roughly as follows:

  • £301 – first living expenses payment – ​​Spring 2023
  • £150 – Disability Payment – in Summer 2023
  • £300 – 2nd living expenses payment – ​​Autumn 2023
  • £300 – Pensioners Payment – in Winter 2023/4
  • £299 – 3rd living expenses payment – ​​Spring 2024

Sweet Home Discount £150

This is a payment to your electricity account and can be made anytime between October 2022 and March 2023. In a restructure of the scheme this winter, people in England will no longer have to apply to their energy companies on a first-come, first-served basis. on the contrary, DWP is determining who gets the discount and limiting it to those receiving means-tested benefits, such as universal credit, those with high energy costs – using the age, type and size of their property, or based on their energy performance certificate. The amount paid has also increased from the previous £140.

Eligible claimants will receive a letter advising them about the discount, and most will have it automatically applied to their bill by March 31, 2023. if you don’t get the letter If you think you are eligible by mid-January 2023, please call the Warm Home Discount Helpline on 0800 107 8002 by 28 February 2023.

Cold weather pays up to £75

If there’s more freezing weather through the end of March 2023, more cold weather payment will expire. Pay every 7 days when the average temperature in your area is recorded (or predicted) as zero degrees Celsius by the nearest weather station.

Universal Credit is one of the eligible benefits as long as you are not employed or self-employed. One of the following must also apply:

  • You have a medical condition or disability and limited ability to work (with or without work-related activities)
  • You have a child under the age of 5 living with you

If you have a disabled child amount on your claim, you’ll also be eligible, whether you’re employed or not.you can Check if cold weather payments are triggered in your area on the government website – If available, you will receive it in your account within 14 days. Many people have already received one or two payments of £25 due to the cold weather in December and January, and some are queuing up for three payments totaling £75.

If you live in Scotland, you will no longer get the cold weather benefit but will get £50 a year winter heating bills Instead, regardless of the weather conditions in your area. Payments will begin in February 2023.

This could mean an extra £2,000 this year.Discuss your benefits and bill, and get tips and help on our website UK Cost of Living Facebook Page and Check here if you are entitled to any state support as £15bn is believed to be unclaimed.

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