**Important Update for Universal Credit Claimants!**
Heads up to everyone relying on Universal Credit: while the standard allowances are set to rise above inflation starting in April, you won’t see the extra pounds in your pocket until June. Why the wait? Universal Credit is paid in arrears, meaning you’ll start receiving the higher rates for assessment periods beginning on or after April 13th.
For those over 25, the monthly standard allowance is going up from £400.14 to £424.90. Couples and those with kids will see increases too. The first child born before April 2017 will amount to £351.88 monthly, while newer additions or additional children get an increase to £303.94.
Remember, your Universal Credit amount is based on personal factors like age, income, savings, and more. If you’re working, be aware of the taper rate – 55p is deducted from your payment for every £1 you earn.
There’s good news for workers! The “work allowance” lets you earn a bit without affecting your support. It’s £411 monthly if you get housing help or £684 otherwise. This helps make work pay without a big hit to your benefits.
For full details on deductions and additional elements, check out the Government’s website. Remember, the new rates won’t hit your bank account until June, so plan accordingly!
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