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Daily Mirror
Daily Mirror
Business
Zahra Khaliq

Martin Lewis says households earning less than £40,000 may be eligible for support

Martin Lewis has issued a warning to households bringing in less than £40,000 a year - as they may be eligible for extra financial support.

According to the MoneySavingExpert founder, millions of households could meet the eligibility requirements to get Universal Credit without knowing.

Lewis says a simple benefits calculator could help you determine whether or not your household is entitled to benefits.

Speaking at the Digital, Culture, Media and Sport sub-committee on Online Harms and Disinformation, he said that while not all households earning less than £40,000 would qualify, it was still worth checking.

Millions of households could be missing out on extra financial support (ITV)

He told the Liverpool Echo : "My rule of thumb is if you have a family income of under £40,000 then you should absolutely check on a benefits calculator whether you are entitled to Universal Credit."

Mr Lewis previously spoke about the importance of checking your benefit entitlements on ITV ’s Martin Lewis Money Show.

He said: "There are up to seven million of you who are eligible and who are missing out.

"I am not, repeat, saying you will get it. I am saying it's definitely worth 10 minutes of your time to go onto an online benefits calculator- there are a good few of them out there - and it should take about 10 minutes to put all of your details in to see if you are due.

"Remember, benefits aren't just for those out of work. 40% of those on Universal Credit are in work."

Martin says that while not all households will benefit, it is still worth checking your entitlements (Getty Images/Science Photo Library RF)

It comes as Chancellor Jeremy Hunt confirmed in his Autumn budget last month that benefits will rise by 10.1% to keep up with soaring inflation rates.

The 10.1% rise will see the standard Universal Credit allowance for a single person over 25 rise from £335 to £369 a month.

According to Mr Hunt, the average family receiving Universal Credit will benefit by around £600.

The Chancellor also announced that the benefit cap of £23,000 in London (or £20,000 outside) will finally rise with inflation after years of freezes and campaigns.

The move is expected to help around 10 million households and cost £11billion.

Mr Hunt said in his statement that he was committed to "protect the most vulnerable".

To check whether of not you're eligible for benefits, the Government's own benefits calculator may be helpful, but you'll have to provide information about your savings, income, existing benefits and more for a clearer picture of your entitlements.

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