People claiming a certain type of financial help from the Department for Work and Pensions (DWP) have been issued with a warning and a set of instructions to ensure they don't miss out on their income. It comes as the UK Government announced a major switch-up to the Tax Credits system.
The planned move away from Tax Credits is due to become reality in September 2024. The decision means those who receive payments this way will need to make the swap to Universal Credit.
In a post on X, formerly Twitter, the DWP said: "Tax Credits are ending. Don't risk missing out on financial support.
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"Look out for a letter called a Universal Credit Migration Notice from the DWP explaining what you’ll need to do, and by when. If you are claiming Tax Credits and are aged 65 or over, DWP will write to you to ask you to apply for Universal Credit or Pension Credit, depending on your circumstances.
"You won’t be moved automatically, so it’s important to act quickly and follow the instructions in the letter, otherwise your benefits will stop. To continue to receive financial support, you will need to claim Universal Credit by the deadline stated in your Migration Notice letter, even if you have just renewed your Tax Credits claim."
Payments for Universal Credit and other benefits are set to rise by 6.7 per cent, in line with the September Consumer Price Index [CPI], after Chancellor Jeremy Hunt announced the annual rise in his Autumn Statement. In 2024/25, around 5.5 million Universal Credit families are forecast to benefit from the uprating with an average annual gain estimated to be £470 (equivalent to an increase of around £39 per month).
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