Universal Credit – The Facts
Businesses of all sizes have been affected by the Covid-19 lockdown. The Government has announced an unprecedented series of financial aid packages in recent weeks, helping both the employed (Job Retention Scheme) and the self employed (Self Employment Income Support Scheme – SEISS), in an attempt to support businesses, protect jobs and prop up the UK economy.
However both of these schemes have gaps, which leaves a notable minority of the working population largely unsupported. Key examples being those who have only recently become self-employed and small company directors who pay themselves a small salary plus dividends. Also, those who have been on low incomes in recent years (whether employed or self employed) will not receive much support from the above two schemes.
Such individuals may need to look beyond the key Covid-19 financial aid measures to Universal Credit (UC). To assist you in understanding UC, we have created a summary factsheet, covering what UC is, how much can be claimed, and how you make a UC application.
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