Benefits Calculator

Could you be missing out on valuable financial support without realising? £16 billion of benefits and tax credits remain unclaimed in the UK each year – most often by low income working households.

And, up to 70% of credit union loan applicants are missing out on an average of £465/month in unclaimed benefits, according to findings from our partners at InBest*

Not sure you’re getting all the help you’re entitled to? use our Benefits Calculator to find out what you could claim. By entering a few details about your situation below, you’ll get a free and impartial assessment of all the benefits and tax credits you are entitled to and what you have to do to claim them: from means tested benefits like Universal Credit and Child Tax Credit, right through to the latest Benefits for energy bills.

Try the Benefits Calculator now

• Source: “Scottish fintech helping poorest households access thousands in unclaimed benefits”

A useful guide to Benefits 

Benefits are there to help support you with living expenses and day-to-day costs. They can be a help to make ends meet, or even to start building a rainy-day fund and save for your retirement. Here’s an overview of some of the main types of benefits available and how they can help:

Increase your income: 

Universal Credit (UC) is a benefit available for those who are unemployed or with low salaries to top up their income. The total amount you receive depends on things like whether you’re living with a partner, if you have a health condition that affects your daily activities, or your number of dependent children. If you’re working then UC will also take into account your monthly take-home pay, so if you have a variable salary, it can be a way to help smooth out your income.

Reduce your costs:

Specific groups such as low and middle-income families or people with a long-term health condition or disability can get additional benefits that reflect their higher living costs such as Child Benefit, or Personal Independence Payment. Benefits can also help low and middle-income families reduce their expenses. For example, Housing Benefit will help you to pay your rent and the Council Tax Reduction might reduce your council tax bill. Families can also apply for Free School Meals and Help with School Clothing costs, while elderly people can get support to pay for utility bills. If you are struggling with your mortgage payments, you might be entitled to Support for Mortgage Interest payments.

Save for your future:

Benefits can also help you become more financially resilient, enabling you to save a little each month and the Help to Save scheme can help build your savings with up to £1,200 given over 4 years to start building a savings pot.

You can even use your benefits to boost your pension pot while keeping most of your take-home income. Within Universal Credit, all your pension contributions are disregarded in the take-home income calculation, which means that for each £100 in pension contributions, you’ll earn an additional £63 in Universal Credit.

Check what benefits you are entitled to: try the Benefits Calculator now

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