Don’t Miss Out on Unclaimed Benefits! Martin Lewis Urges Quick 10-Minute Check for Those with Household Incomes Up to £40,000
In an effort to help individuals and families maximize their finances, money-saving expert Martin Lewis, 51, is encouraging anyone with a household income up to £40,000 to complete a simple 10-minute check. During his ITV show, The Martin Lewis Money Show Live, Lewis emphasized the importance of using a benefits calculator to uncover potential additional cash in the form of benefits and allowances.
Whether it’s struggling with mortgage costs or facing financial challenges, Lewis believes that checking for financial assistance opportunities is a crucial step. He stated on his show, “If you’ve got household income up to £40,000, especially at the higher level if you have kids or a high rent, get yourself onto a benefits calculator.” He stressed the significance of spending just ten minutes to see if you’re missing out on any entitlements. Shockingly, £19 billion worth of unclaimed entitlements are going unnoticed by those who are eligible to receive them.
For those looking to determine their eligibility for benefits, there are independent benefit calculators available on governmental websites such as gov.uk and support from Citizen’s Advice called Help to Claim. Charities like Turn2Us, Policy in Practice, and EntitledTo also offer benefits calculators. These calculators typically require personal details like savings, income, and existing benefits.
Policy in Practice, a social policy software and analytics company, recently unveiled that £19 billion worth of benefits remain unclaimed. Their research revealed that over 2.7 million people are missing out on £2.9 billion in council tax support alone. Additionally, there is an astounding £7.5 billion worth of unclaimed Universal Credit payments, which could provide recipients with £9,600 annually. Furthermore, hundreds of thousands of families fail to claim child benefits, while a quarter of a million pensioners do not seek necessary rent assistance.
Pension Credit is another valuable resource that often goes unclaimed. Not only does it supplement income, but it can also make individuals eligible for other benefits such as council tax reductions and free TV licenses. Shockingly, over 850,000 entitled pensioners fail to claim their pension credit benefits.
Finally, approximately half a million households in the UK are missing out on carer’s allowance. This benefit is available to those who care for someone for a minimum of 35 hours per week and if the care receiver meets certain benefit requirements. It’s important to note that living with the care receiver or being related to them is not necessary to claim this allowance. Claims can even be backdated for up to three months from the date of application. Additionally, if you are working, your earnings must be less than £123 per week after tax, National Insurance, and expenses.
In conclusion, it is vital to take advantage of benefits calculators and ensure that you are not missing out on any unclaimed benefits. By conducting a quick 10-minute check, individuals and families with household incomes up to £40,000 can potentially uncover additional financial support. Don’t miss out—start your benefits check today!
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