MILLIONS of benefits claimants are set to receive their money early due to the upcoming August Bank Holiday.
Due to the upcoming bank holiday, there is likely to be a change to the date that it lands in people’s bank accounts. Here’s everything you need to know.
Payment dates for Child Benefit
Child Benefit payments are usually paid every four weeks on a Monday or Tuesday.
The due date for the next Child Benefit payment is August 29, 2022 – but will instead be deposited into your accounts three days earlier, on August 26, 2022.
There are two Child Benefit rates:
- Eldest or only child – £21.80
- Additional children – £14.45 per child
You get Child Benefit if you’re responsible for bringing up a child who is under 16 or under 20 if they stay in approved education or training.
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Tax credit payment date changes
Tax credits due to be paid on August 29, 2022 and should be with you on Friday, August 26, 2022.
You can only make a claim for Child Tax Credit or Working Tax Credit if you already get tax credits.
If you cannot apply for tax credits, you can apply for Universal Credit instead.
You might be able to apply for Pension Credit if you and your partner are State Pension age or over.
Universal Credit
The date for this payment is likely to change as well but depends on your “assessment period”.
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This period starts on the date when you first made a claim for the benefit, and you will then receive cash each calendar month afterwards.
Payment is often released seven days after the initial assessment period is over.
However, with the Bank Holiday, you should receive it also on Friday, August 26, 2022.
Universal Credit payments are made up of a standard allowance and any extra amounts that apply to each person, for example if you:
- have children
- have a disability or health condition which prevents you from working
- need help paying your rent
Use a benefits calculator to see how much you could get.
How are your benefits paid?
You’ll be asked for bank, building society or credit union account details when you claim.
You can only get paid in a different way if you have problems opening or managing an account.
If you cannot open or manage a bank, building society or credit union account, contact the office that pays your benefit to find out how to get it paid.
If you receive Universal Credit, you can call the Universal Credit helpline.
