Universal Credit: Does self employed grant have an effect on Universal Credit? | Personal Finance | Finance

The Government is urgent on with its vary of economic schemes for these unable to work throughout the coronavirus disaster. The Self Employed Income Support scheme was launched by the Chancellor Rishi Sunak earlier on within the disaster to assist self employed individuals from monetary destroy. Self employed persons are usually extra susceptible as they don’t have the backing of an organization and its advantages, resembling sick pay and maternity depart.

At the time, Mr Sunak stated: “To help those that work for themselves, at present I’m saying a brand new self-employed revenue help scheme.

“The Government pays self-employed individuals who have been adversely affected by the coronavirus a taxable grant price 80 % of their common month-to-month income during the last three years.”

Self employed people who’ve signed onto the grant scheme can stick with it working, though most industries have floor to a halt, making the provision of labor scarce.

Universal Credit is a state profit designed to assist these out and in of labor with dwelling prices.

The scheme has been a lifeline for many who, all through the coronavirus disaster, have been unable to seek out work or have been laid off and never placed on furlough.

Does the Self Employed Grant have an effect on Universal Credit?

The Government steering states: “You could make a declare for Universal Credit when you anticipate the grant, however any grant acquired can be handled as a part of your self-employment revenue and will have an effect on the quantity of UC you get. Any UC claims for earlier durations is not going to be affected.”

For the self employed awaiting the grant, any Universal Credit declare now gained’t have an effect on future grant funds.

Am I eligible for Universal Credit?

You can get Universal Credit if:

  • You are on low revenue or are out of labor
  • You are 18 or over
  • You are below state pension age, or your companion is
  • You and your companion have lower than £16,000 in financial savings
  • You stay within the UK
  • A single particular person aged 25+ can at the moment get £409 per 30 days from the Government within the type of Universal Credit.

This charge can range, relying in your age and circumstances.

You can view the Express.co.uk information to claiming Universal Credit whereas self employed here.

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