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Market Oracle FREE Newsletter

Category: UK Benefits

The analysis published under this category are as follows.

Politics

Saturday, November 18, 2017

Universal Credits Christmas Scrooge Nightmare for Weekly Pay Recipients / Politics / UK Benefits

By: N_Walayat

The Universal Credits nightmare is set to continue for the working poor this Christmas as over 100,000 people look set to receive no payment over the festive season. The reason being that Universal Credit can not cope with something as simple as that there being 5 fridays (pay days) during December, where such months can tip recipients over the monthly limits for claiming Universal Credit as UC is not able to do the simple calculation of averaging earnings throughout a year that is the case for the likes of tax credits.

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Personal_Finance

Saturday, November 18, 2017

Universal Credit Doomsday for Tax Credits Cash ISA Savers, Here's What to Do / Personal_Finance / UK Benefits

By: Nadeem_Walayat

Britain's hard working low paid tax credits benefit recipients are sleep walking towards their Universal Credits doomsday. Where typically a family of 4 jointly earning £16k per annum will currently be in receipt of £6,700 per annum of TC & WTC, whilst a family of 6 would typically receive £12,400, boosting their annual NET earnings to £28,400 that will have allowed many families to SAVE, without impacting on their tax credit benefit payments as long as the taxable interest earned is under £300. The key here being TAXABLE INCOME, which means interest earned on savings in tax free accounts such as Cash ISA's does not not impact on tax credit awards.

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