Universal Credit – How much will you lose?
So we’re coming to the end of another year and I think most people in the UK would agree that one of the standout Personal Finance stories of the year was the government climb down from a potential cut to the amount of tax credits working families were set to receive.
While this backtracking was welcome news to many, it really is only the start of the story. In the coming years a replacement of the tax credits system called Universal Credit is to be fully rolled out, and many of the planned changes to tax credits will come into effect when this happens.
To give you a bit of a heads up as to what is in store, we have compiled some information that was released by The Resolution Foundation and put it into what is hopefully an easy to understand infographic. The findings show just how much working families might lose as a result of the rolling out of Universal Credit.
If you would like to share this infographic with your friends to ensure that they know just what is coming when Universal Credit is implemented, then please do share this post on social media. Or, if you are a fellow blogger, then we have also included a html embed code at the end of this post so that you can easily include it on your own blog if you would like to.
I hope you find the following information useful and that it helps you to prepare for the cuts to in-work benefits that are due to come into force in the not so distant future.
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