How to calculate UC increase

sanova76

Hi,

How to calculate this year's UC increase based on my current monthly payment?  If for example I get £400/month, it's 6.7% of 400 =26.80, so I'll get £426.80 fron April onwards?


Thanks.

San 

Yamor

Not necessarily.

It depends on the elements included in the award*, and whether your earnings and other income taken into account by UC have changed.

* For example the child element for a first child born before April 2017 went up by less than 6.7%, and potential increases to the housing element do not depend on inflation, and neither does the childcare costs element.

Spoonie_Turtle

You can use a benefits calculator with calculations with your current wage and then increased wage to see the difference.
https://www.entitledto.co.uk/
https://benefits-calculator.turn2us.org.uk/

Sorry, totally misread the post, you were talking about the benefits increases not a wage increase *facepalm*

Newcad

I don't think the calculators will show the 2024/2025 rates until they have actually changed.

You can find the 2024/3025 rates for each benefit and each UC element here: https://www.gov.uk/government/publications/proposed-benefit-and-pension-rates-2024-to-2025/proposed-benefit-and-pension-rates-2024-to-2025/

Compare those to your current UC elements (which are also shown there).

Spoonie_Turtle

Newcad said:

I don't think the calculators will show the 2024/2025 rates until they have actually changed.

You can find the 2024/3025 rates for each benefit and each UC element here: https://www.gov.uk/government/publications/proposed-benefit-and-pension-rates-2024-to-2025/proposed-benefit-and-pension-rates-2024-to-2025/

Compare those to your current UC elements (which are also shown there).

Oh I totally misread the OP!  Sorry.

superM

Try https://www.entitledto.co.uk/benefits-calculator/Intro/Home?cid=9795795d-8a81-48f7-b1ed-42272c78dbfc.   Drop down select 24/25 tax year. It should tell you revised estimates figure and workings of it. 

Newcad

Thanks superM,

It's a few months since I last used that calculator myself and so I hadn't seen that they'd added the option for 2024/2025 rates already.

Yamor

I have a spreadsheet calculator with the old and new rates, if anyone is interested.

If yes, I'll post it up when I'm by my computer next.

PinstripePhantom

Yamor said:

I have a spreadsheet calculator with the old and new rates, if anyone is interested.

If yes, I'll post it up when I'm by my computer next.

That would be useful, I'd made my own calculations a few weeks ago so it'd be good to compare to see if I got it right. 

Newcad said:

I don't think the calculators will show the 2024/2025 rates until they have actually changed.

You can find the 2024/3025 rates for each benefit and each UC element here: https://www.gov.uk/government/publications/proposed-benefit-and-pension-rates-2024-to-2025/proposed-benefit-and-pension-rates-2024-to-2025/

Compare those to your current UC elements (which are also shown there).

Also wondering if this is what the rates will actually be because the word "proposed" sounds to me like aren't confirmed and could be subject to change?

poppy12345

PinstripePhantom said:

Also wondering if this is what the rates will actually be because the word "proposed" sounds to me like aren't confirmed and could be subject to change?

Thats what the confirmed rates will be. 

PinstripePhantom

poppy12345 said:

PinstripePhantom said:

Also wondering if this is what the rates will actually be because the word "proposed" sounds to me like aren't confirmed and could be subject to change?

Thats what the confirmed rates will be. 

That's good to know, thank you! Just seemed like an almost too good to be true increase, we'll be around £175 per month better off but that's including the child benefit increase and National Insurance reduction (if I've calculated it all right, which I believe I have).