Why Tax Credits and Benefits are Needed
Money has become an important factor in the world today. It is required for doing almost everything. The recent state of the economy however is such that people everywhere are finding it hard to get their hands on this most crucial commodity. Jobs are hard to come by and even those who have gotten one are barely able to make both ends meet. The situation is even worse for old people as they have to live out the later part of their lives in poverty. Tax credit and benefits are considered an option provided by the government to the underprivileged class of society.
What Government Benefits Are Available
The government in the UK is very mindful of the fact that a number of its citizens are living in severe poverty. In order to provide financial help to this segment of society, it has come up with numerous gov.uk/browse/benefits/entitlement that can be claimed by the deserved parties. The following are a few of the benefits that you can apply for.
• Universal Credit
Universal credit is one of the easiest to claim government benefits offered in the UK. It is available to anyone living in the UK who is out of a job or is currently earning a very low income. The eligibility criteria for this benefit are being 18 years of age or over but under the pension age and having savings of less than £16,000. You can apply for Universal credit online. The funds will be calculated based on your current income and savings amount and will be transferred directly to your bank. Read More...