National Insurance
From July, employees who earn £36,600 or under (around 70% of workers) will pay less National Insurance. A typical employee will save over £330 a year. This means you can earn £12,570 a year completely tax-free.
Increasing Pay
The National Living and National Minimum Wage rates rose in April. Check your pay to make sure you are getting the pay rate you’re entitled to.
Universal Credit
If you’re on low income, out of work or cannot work you may be eligible for Universal Credit. The government has made changes to allow working families to keep more of their money.
Marriage Allowance
Marriage Allowance allows you to transfer 10% (£1,260) of your personal tax allowance to your husband, wife or civil partner if you earn less than the personal tax allowance, which is usually £12,570.
Support for Carers
You could get £69.70 a week if you care for someone for at least 35 hours a week and they get certain benefits. You do not have to be related to, or live with, the person you care for.
Pension Credits
You could get extra money to help with your living costs if you’re over State Pension age and on a low income: even if you have savings or own your own home.
Help to Save
Help to Save is a savings account. If you’re entitled to Working Tax Credit or receiving Universal Credit, you can get a bonus of 50p for every £1 you save over 4 years.
Child Trust Funds
A Child Trust Fund is a long-term tax-free savings account for children born between 1 September 2002 and 2 January 2011. For those who hold an account but do not know the Child Trust Fund provider, or if you’re unsure whether you have one or not, we can help you find out.
Tax Bill Support
Contact HMRC as soon as possible if you cannot pay your tax bill. We’re here to help, and you may be able to pay what you owe in instalments, depending on your circumstances and what you can afford.
Further information
For more information visit the UK Government’s MoneyHelper service here: https://www.moneyhelper.org.uk/en
