Martin Lewis urges anyone on Universal Credit to | U.Okay.Finance News
Money-saving knowledgeable Martin Lewis is urging hundreds of thousands of people receiving Universal Credit to take benefit of a little-known authorities scheme that provides an unbeatable 50% bonus on financial savings. The Help to Save scheme, accessible through Gov.uk, permits eligible claimants to earn up to £1,200 in authorities bonuses over 4 years.The scheme is designed for people on low incomes who’re in work and receiving Universal Credit. Users can save up to £50 a month, and after two years, they obtain a tax-free bonus of 50% on the best stability they held during that time – even when they’ve withdrawn money alongside the way in which. A second bonus is obtainable after one other two years, doubtlessly bringing the overall authorities top-up to £1,200.Lewis, who often highlights the scheme on his ITV show and MoneySavingExpert web site, calls it “an unbeatable offer” for anyone who qualifies.“There’s nowt else close to it,” he stated, praising the initiative for giving working households on advantages a method to construct a financial cushion.One saver, Claire, instructed Lewis: “Have saved for the final 4 years. Am about to money out my final £2,400 plus my second £600 bonus, so £3,600 in whole.”It’s been tight some months, but I have always pulled the cash together to get the max back. Thanks for the tip all of those years ago!”To qualify, people have to be UK residents receiving Universal Credit and have earned a minimum of £1 of their most up-to-date month-to-month evaluation period. The threshold was lately lowered from £793 monthly to simply £1, making the scheme more accessible than ever.Accounts are particular person and have to be opened online by way of Gov.uk or through the HMRC app. Once opened, you possibly can proceed saving and incomes bonuses even when your advantages stop.The scheme is open till a minimum of April 2027, and Lewis is encouraging all eligible households to act now to secure a priceless increase to their financial security.
Stay up to date with the latest news within the European markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on regional trade. We present day by day updates to guarantee you may have entry to the freshest info on stock market actions, commodity costs, currency fluctuations, and main financial bulletins throughout Europe.
Explore how these trends are shaping the longer term of the European economic system! Visit us often for essentially the most participating and informative market content material by clicking right here. Our rigorously curated articles will keep you knowledgeable on market shifts, investment methods, regulatory developments, and pivotal moments within the European financial panorama.
