Friday, August 7th, 2020
Universal Credit UK, a payment you can get for your living costs, could be stopped under certain circumstances. To know these circumstances and find the right merchant processor for your eCommerce business in the UK, continue reading this post.
COVID-19 & Universal Credit UK
eCommerce has been growing unprecedentedly in recent months as a result of the increased number of people making purchases online because of COVID-19. To respond to the current crisis, the UK Government has made some changes to the so-called Universal Credit. E.g., the monthly-standard rate is now £409.89 for single people aged 25 or over. Previously, it was £317.82.
Besides, the ‘minimum income floor’ has been removed to help self-employed people with reduced income. Additionally, the government has increased the allowance for private renters facing challenges because of housing costs.
Given the current situation caused by COVID-19, it’s extremely important to work only with a reputable payment-processing specialist to overcome the challenges successfully. To find one, you just need to turn to a true merchant-processor comparison expert in the country like BestPaymentProviders.co.uk.
Best Payment Providers UK can help you with Universal Credit UK and any other payment issues. BestPaymentProviders.co.uk guarantees the most reliable review of processors by paying special attention to terms, complaints, and integration requirements.
Universal Credit: When It Could Be Stopped
There are certain circumstances under which the payment can be stopped or reduced. E.g., if the recipient doesn’t report a change to his/her income or work. In fact, the recipient must sign an agreement known as a Claimant Commitment with their work coach depending on the situation.
So, if the recipient doesn’t meet his/her responsibilities or fails to do what he/she has agreed in the Claimant Commitment, their Universal Credit could be stopped or get lowered.
To sum up, COVID-19 has brought dramatic changes to the lives of consumers and business owners. To go on receiving the ‘right amount’ each month provided under the government-backed support program called Universal Credit, the recipient must report any changes that occurred to their circumstances. If he/she fails to report a change without delay, the payment could be stopped or cut.