Mirror

This 'quick check' could save families up to £1,108 a month on childcare

Mirror logo Mirror 12.09.2022 13:36:59 Zahra Khaliq
Families could save a huge 85% on childcare if they take a closer look at their finances

As the cost of living crisis continues to squeeze household budgets, parents across the country will be looking for ways to manage those hefty childcare costs.

And they may be in luck, as millions of working households may be missing out on thousands in childcare support.

Working parents on Universal Credit can claim up to £1,108 a month in free childcare, potentially saving them a huge 85% on these bills.

This means families could save up to £648 for one child and up to £1,108 for two children every month.

To be eligible you (and your partner - if you live with them) will need to either:

Brits often assume that they're not entitled to support if they're in employment - but even those on salaries of more than £30,000 a year can claim free cash for childcare.

One Facebook user spoke of the benefit, saying: "I would highly suggest anyone on a mid-range wage who thinks they woudn't be entitled to Universal Credit to give Citizens Advice a call or do an online benefits calculator."

The post went on to say: "Me and my partner both earn £30,000 a year each - so £60,000 a year in total."

The user said they thought they would never be entitled to any childcare support for their one-year-old and four-year-old child.

However, the individual said: "with a £1,300 childcare bill, Universal Credit gives us £700 a month after deducting our earnings."

In order to receive this support, families claiming will need to have less than £16,000 in savings and be eligible for Universal Credit.

Universal Credit is a Government benefit which is aims to combine a number of old "legacy benefits" into a single monthly payment.

The old legacy benefits it replaces are:

Universal Credit payments are made up of a standard allowance and then various additional payments that depend on your circumstances.

If eligible, standard Universal Credit payments look something like this every month:

You may receive additional support if you:

Those on Universal Credit will be assessed every month and if circumstances change, it may affect how much support you receive.

For example, if you start earning more from work, your Universal Credit payments will reduce until you're earning enough to no longer claim.

Eligibility depends on your individual circumstances, but you may be eligible if you meet some of the following criteria:

Your partner's income and savings will be taken into account, even if they're not eligible for Universal Credit.

You can read the full eligibility criteria on the Government's website and use a benefits calculator to see how much you're likely to get in total.

To apply for Universal Credit you'll need to visit the GOV website and create an account.

You'll have to make a claim within 28 days of creating your account, otherwise you'll have to start again.

If you live with your partner, you'll both need to create accounts and join them together when you claim.

There are a number of details you'll need to provide when creating your account, including:

In addition, you'll need to prove how you earn, how much you pay in rent, any disability or health condition that affects your work, how much you pay for childcare and your savings and any investments, such as shares or properties you rent out.

If you're struggling to claim online, or have any queries, you can call the Universal Credit helpline on 0800 328 5644.

lundi 12 septembre 2022 16:36:59 Categories: Mirror

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