Supporting a couple struggling with rent after National Insurance rise
Their wages have not increased but with higher NI contributions and an increase in lots of other costs it feels like a wage drop. What can they do?
Along with inflation raising costs of everything, we also have a benefit rate increase (currently around 3.1%) so if you only just missed out on qualifying for means-tested benefits previously, you may qualify now. It’s worth checking out your benefit entitlement online https://www.entitledto.co.uk/ - when your rent increases the amount you need to earn to qualify reduces.
Child Benefit is also rising to £21.80pw for the eldest/only child and £14.45pw for other children which is paid for children (aged under 19) who are in, or recently left full-time education – people who care for children may be eligible if their income is below £50,000pa.
The National Minimum Wage is also rising in April to £9.50 for over 25s (full rates available here ) along with a freeze on income tax rates to try and help you keep more of the money you earn.