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Universal Credit rates 2023 confirmed: How much you can expect from April 2023 | Personal Finance | Finance

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An estimated 19.2 million families and 39.8 million individuals in Great Britain in receipt of Department of Work and Pensions (DWP) and HMRC advantages are as a result of see a rise of their payments to assist with rising costs next 12 months. Universal Credit claimants are one in all the numerous profit recipients who’re legally due the raise, but what rates is perhaps expected?

Announcing the plans on how he’d prefer to “go further” to support people most exposed to high inflation, Mr Hunt told the House of Commons during his Autumn Statement: “There have also been some representations to maintain the uplift to working age and disability advantages below the extent of inflation given the financial constraints we face.

“But that may not be consistent with our commitment to guard essentially the most vulnerable so today I also commit to uprate such advantages by inflation with a rise of 10.1 percent. That’s an expensive commitment costing £11billion.”

He continued: “But it surely means 10 million working-age families will see a much-needed increase next 12 months. On average, a family on Universal Credit will profit next 12 months by around £600. And to extend the variety of households who can profit from this decision I can even exceptionally increase the profit cap with inflation next 12 months.”

READ MORE: Universal Credit claimants eligible for £900 cost of living payment

Nonetheless, for individuals who already claim other advantages, Universal Credit is replacing the next:

  • Child Tax Credit
  • Housing Profit
  • Income Support
  • Income-based Jobseeker’s Allowance (JSA)
    Income-related Employment and Support Allowance (ESA)
  • Working Tax Credit.

This implies if an individual or their partner starts claiming Universal Credit, they’ll stop getting these advantages and tax credits.

Nonetheless, it shouldn’t impact other advantages an individual could also be receiving equivalent to Personal Independence Payment (PIP) or Carer’s Allowance.

If an individual thinks they might be eligible for the profit, they’ll apply using the online Universal Credit tool.

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