Help with universal credit

[Userr1927]

Hi could someone please help me understand universal credit please. I was looking to change from tax credits as it means I would be slightly better off but I don't know a lot about it. Is this based the same as tax credits and annually? If I decided to work more hours would this mean I would owe a lot back like tax credits if my salary increased during the year? I'm currently single, I am dating but no where near an official relationship but if I was to enter a relationship I know tax credits work on the full year so anything I had received before entering the relationship I'd owe back. Would this be the same case with universal credit? I just want to understand the ins and outs before making a decision as these are things that may change for me in the future

Thanks

It's nothing like tax credits. UC is based on real time information, so if you earn more it is reflected in that months payment. UC is calculated on monthly assessment period - they look at what you have earned and the payment you receive seven days after the end of your assessment period will reflect what you have earned. So in theory overpayments and underpayments should be very rare on UC. It's a much better system for some.

@Babyroobs thank you. Do you know if you can opt to change to UC and if it's an easy process?

If you have a change of circumstances you have to switch but you can request to switch, www.understandinguniversalcredit.gov.uk/tax-credits-customers/?gclid=Cj0KCQjw3IqSBhCoARIsAMBkTb00nOxHiRy-T5lYJRnrJ8kgxMFO6zrMBYTnE2YJiLZiGIFbgioiEGAaApwkEALw_wcB&gclsrc=aw.ds

[quote Userr1927]@Babyroobs thank you. Do you know if you can opt to change to UC and if it's an easy process?[/quote]
It's just a matter of making a Uc application online. Tax credits would stop as soon as you make the claim. You do not get your first Uc payment until 5 weeks later but you can take an advance payment to tide you over which is then re-paid over 12 months. The online application is very easy. you may need an appointment at the job centre for verification or sometimes you can do that online too. You can make an application at the Gov.uk site. The only thing you may need to bear in mind is when you get wages- you may want to keep the date you apply away from your monthly pay date by a few days. If you are paid weekly it shouldn't matter.

Great thanks. Would I need to get childcare evidence etc arranged before application?I don't have a lot of savings but I assume they will need this information too. Thanks for the advice. I think this may be better for me so will look into applying.

@Userr1927

Great thanks. Would I need to get childcare evidence etc arranged before application?I don't have a lot of savings but I assume they will need this information too. Thanks for the advice. I think this may be better for me so will look into applying.

Any savings over 6k will reduce your Uc amount, anything over 16k and you cannot claim UC. Childcare costs have to be reported on a monthly basis, you need to upload invoices each month.

@Babyroobs sorry for all the questions but do you need to upload wage slips too? It's hard for me to get a hold of these so wondering if it'll turn into a nightmare. Thanks

[quote Userr1927]@Babyroobs sorry for all the questions but do you need to upload wage slips too? It's hard for me to get a hold of these so wondering if it'll turn into a nightmare. Thanks[/quote]
No, your employer will report your earnings to HMRC each month or however often you get paid, then UC ( DWP ) get the figures direct from them. No need for anyone to upload pay slips or report earnings unless they are self employed .