Martin Lewis warns millions about benefits set to miss out on childcare help

MARTIN LEWIS has warned millions about benefits set to miss out on childcare assistance announced in the spring budget.

Jeremy Hunt Revealed that there is a big change in parenting for low-income working parents. spring budget.

Prime Minister universal credit The cap – the maximum amount a household can get for childcare assistance – is going to be increased.

but money saving expert Founder Martin Lewis About 2 million households claiming child and work tax credits were found to be ineligible for this benefit.

in a video posted on twitterhe said: “One big mistake about this is that it does not apply to those receiving legacy benefits.

“In other words, those who take tax credits for childcare will not see a comparable rise.

“When the numbers come out, I think many people with high childcare costs and tax credits would be better off moving to universal credit.”

The maximum amount of cash a parent can claim will increase from £646 to £951 for one child and from £1,108 to £1,630 for two children, an increase of just under 50%.

Change is coming this summer.

The Prime Minister also announced Childcare fees must be paid in advance If you are using Universal Credits.

Parents of Universal Credits can now: Claim 85% of childcare costs – But you have to pay in advance first.

This meant that mothers and fathers had to find over £1,000 upfront for a month’s childcare before they could receive support.

Struggling parents will be better off in a year under the plan and more likely to return to work.

This is a big win for The Sun’s. Make Universal Credit Work Campaignhas sought to prepay for childcare assistance since December 2018 and remove barriers to parents returning to work.

The president also revealed several other changes regarding parenting.

The number of children per daycare staff will increase from 4 to 5, but the change is optional.

Nurseries receive more funding, with people doing childminder work receiving £600, while temporary workers doing childminder work receive £1,200.

More funding was announced for schools to provide wraparound childcare.

Parents with children aged 9 months to 2 years will also receive an extended 30 hours of free childcare.

Should I use Universal Credits?

Households receiving old-style benefits will transition to Universal Credit by the end of 2024.

This process is called managed migration and it has six meanings. advantage abolished by the Ministry of Labor, pension.

This includes benefits such as the working tax credit and the child tax credit.

If you can’t switch back later, it’s worth checking to see if things get better after switching.

There are many online benefit calculators that can help you solve this.

you can find them charity Turn2Us, EntitledTo, etc. Martin Lewis moneySaving Expert.

After applying for Universal Credits, you must wait 5 weeks for your first payment.

You can receive an interest-free advance payment, but the money given will be deducted from future payments.

This means your monthly payment will be reduced until you pay off your prepayment.

What childcare assistance am I eligible for?

free Childcare was first introduced in 2010 and has since been expanded.

Currently, through this scheme, we can help pay for child care for children aged 3 and 4.

The scheme looks like this Expansion For parents of children aged 9 months to 2 years.

Receive 30 hours of free childcare per week for 38 weeks (during term) per year.

However, you must be receiving childcare from a licensed provider and your support will stop once your child begins accepting at school.

Some parents are entitled to up to 30 hours of free childcare, depending on circumstances.

available with claim universal credit, tax Credits, childcare vouchers, tax free childcare.

Some parents can also get free childcare hours for their 2-year-old.

you can learn more about 30 hours free childcare system gentleman

Have a money problem that needs sorting out? Get in touch by email money-sm@news.co.uk