Three big changes in July and August you need to know about Universal Credit National Insurance
Households on Universal Credit will want to make a note of these important dates in July and August.
No need to worry about worry filling out an application form because this payment is automatic.
During these two months, a few big money changes will be taking place including the first instalment of the cost of living payments.
However, if you’re claiming tax credits you’ll have to wait longer to receive your first payment.
These changes will include Universal Credit, National Insurance and benefits.
National Insurance On 6 July, there was a new change to National Insurance.
We have condensed the changes down for you so you can easily keep track of the dates.
The threshold will rise meaning you have to earn £12,570 rather than £9,000 before you First £650 cost of living payment start paying National Insurance Contributions Eight million households in the UK will receive (NICs). their first £650 cost of living payment. You can find out exactly how much less You’ll receive a £326 payment between 14 NICs you’ll pay by using the Government’s July and the end of the month. calculator. In order to claim the benefit you must receive Universal Credit, income-based Jobseeker’s Allowance, income-related Employment and Support Allowance, income support and pension credit. You must also have a successful claim or receive them by 25 May 2022 to receive the £326.
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This could mean you’ll be paying less and have more money to spend in your pocket. For example, someone who earns £20,000 a year will pay around £291 less a year - and this could have an effect on your Universal Credit payments.
