Common Credit score: What’s classed as low revenue and the way a lot is a low revenue? | Private Finance | Finance

claimants have elevated massively throughout the coronavirus disaster. 1000’s of claimants are because of get a lift to their revenue ranges from October. However for these seeking to declare the profit, what and the way a lot precisely is classed as low revenue?

What’s Common Credit score?

Common Credit score is a fee out there to those that are on a low revenue or out of labor.

This fee is a single profit which is changing six former profit funds often known as legacy advantages.

These legacy advantages are:

  • Earnings Assist
  • Working Tax Credit score
  • Earnings-based Jobseeker’s Allowance (JSA)
  • Earnings-related Employment and Assist Allowance (ESA)
  • Housing Profit
  • Youngster Tax Credit score.

READ MORE: Universal Credit: Are you eligible for SDP payments?

Your quantity will likely be decreased you probably have revenue or financial savings.

You’ll be able to work whereas on Common Credit score and if you’re in paid work, you may be entitled to a piece allowance.

The work allowance is the amount of cash you might be allowed to earn earlier than your Common Credit score fee is affected.

When you have lower than £6,000 in financial savings, you’ll have to declare it, however it won’t influence your Common Credit score entitlement.

Having between £6,001 and £16,000 will influence your Common Credit score quantity, however something greater than that can forestall your eligibility for Common Credit score.

For each £1 of different revenue you obtain, together with advantages or pension, your Common Credit score fee will scale back by £1.

The right way to apply for Common Credit score

If you’re entitled to Common Credit score, you can also make a declare on-line here.

You can’t declare Common Credit score and tax credit on the identical time, they may cease while you or your associate applies for Common Credit score.

You may also name the helpline to get assist making your declare on-line.

The Common Credit score helpline numbers are as follows:

  • Phone: 0800 328 5644
  • Welsh language: 0800 328 1744
  • Textphone: 0800 328 1344
  • Video relay service for British Signal Language (BSL) customers – examine you should utilize this service

The strains are open from Monday to Friday, 8am to 6pm.

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