Martin Lewis money show LIVE — Expert gives warning to millions ahead of next month’s broadband & mobile bill hikes
Martin Lewis reveals how Brits on Universal Credit can get £300 FREE cash
The money saving expert revealed how Brits on Universal Credit can get £300 free cash with a specific bank account.
Martin Lewis shared the “really important” tip on his Budget special last week.
He explained that people on UC, or working tax credit, could end up being handed cash by the government if they set up a How to Save account.
Martin explained that Brits can easily sign up through gov.uk.
He said: “It is the best possible savings account there is – nothing like it.
The Government will put a 50 per cent bonus in after two years, and the bonus will be based on the most you ever had in the bank account, Lewis said.
He explained that if you managed to get £600 in there, the government would pay you £300 after the two years is up.
How to get your TV License for FREE
All Brits are required to pay their annual licence fee, which helps pay for BBC and BBC Iplayer.
This fee rises every year with inflation and currently sits at £159 a year.
But if you’re on Pension Credit and over the age of 75, you might be exempt, meaning you could save £159 a year.
Pension Credit is a benefit designed to boost incomes, but it’s estimated millions are entitled to it and don’t claim it.
DWP announces major change
The DWP has announced a major change to Universal Credit that could help you get a cash boost this spring.
An extra £22 million is being invested into the Help to Claim scheme, which aids Brits in making their first Universal Credit claim as the cost of living continues to soar.
The scheme, which is delivered by the Citizens Advice Bureau, can be accessed via telephone or the Universal Credit website.
Dame Clare Moriarty, Chief Executive of Citizens Advice, said: “As the cost of living continues to put household finances under pressure, our top priority is supporting the many people coming to us for help. We’re glad to continue this important support. We’ve seen first-hand the difference our advisers make in helping people access Universal Credit.”
Tesco slashes toy prices in its stores
Tesco has slashed prices on 70 of its toys, including big brands such as Barbie, Peppa Pig, Paw Patrol and Little Timbers.
Prices start from £2 and range up to £45 with half of the toys selling for £10 or less.
The toys are currently on sale across 35 selected stores at the minute.
But there’s a catch…
In order to get the deal you will need to have a Tesco’s Clubcard.
Here are all the stores offering the deals now:
- Bedford Tesco Extra
- Wembley Tesco Extra
- Osterley Tesco Extra
- Bristol Tesco Extra
- Bradford Peel Centre
- Gallions Reach Tesco Extra
- Batley Tesco Extra
- Coventry Arena Tesco Extra
- West Bromwich Tesco Extra
- Dunstable Tesco Extra
- Feltham Dukes Green
- Goodmayes Tesco Extra
- Hayes Bulls Bridge Tesco Extra
- Leytonstone
- Leicester Hamilton Tesco Extra
- Oldham Chadderton
- Reading Tesco Extra
- Surrey Quays Tesco Extra
- Twickenham Tesco Extra
- Lea Valley Tesco Extra
- Watford Tesco Extra
- Yeading Tesco Extra
- Streatham Tesco Extra
- Bradford Tesco Extra
- Slough Wellington Tesco Extra
- Cheetham Hill Tesco Extra
- Stretford Tesco Extra
- Birmingham Aston Lane
- Middleton Tesco Extra
- Accrington Tesco Extra
- Walsall Tesco Extra
- Birmingham Spring Hill
- Sheffield Savil Tesco Extra
- Yardley Tesco Extra
- Woolwich Tesco Extra
PPI tax claim
Martin revealed that people who made a PPI claim before the deadline in August 2019 would have had 20% tax automatically deducted.
However, most people don’t have to pay tax on savings interest as there is an allowance of up to £1,000 a year for lower-rate taxpayers and £500 for those on the 40% higher rate.
Therefore, some or all of the payment from your PPI claim should have been tax free based on your circumstances in the tax year that you received it.
Martin particularly advised anyone who was paid in 2018/19 to check if they paid tax on it.
Eight little-known ways to save at the supermarket
As the prices of essential items rise, many Brits are looking for ways to save some much-needed cash on their shopping.
We’ve listed eight easy ways to slash your grocery bills by thousands every year.
- Get a loyalty card – save up to £1,000 a year
- Take note of unit prices – save £100s
- Know when to shop – save up to £500 a year
- Make a list and take stock – save up to £240 a year
- Swap to own brand – save up to £800 a year
- Don’t ignore granny groceries – save up to £350 a year
- Ditch the kitchen roll – save up to £200 a year
- Ditch the kitchen roll – save up to £200 a year
You can find out more about each of the eight savvy-saving supermarket tips here.
