HELPING HAND
Martin Lewis’ MSE issues urgent warning to anyone aged between 16 and 65 who could be missing out on £1,000s
Those eligible have just hours to act have just hours to act
MARTIN Lewis' MSE has issued an urgent warning to anyone aged between 16 and 65, as they could be missing out on thousands of pounds.
The MoneySavingExpert.com team explained time is running out for millions of unpaid carers in the UK.
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Though caring is a broad term it generally refers to helping someone with everyday tasks such as washing, cooking, cleaning and even shopping.
You are entitled to support if you are caring for someone for at least 20 hours a week.
Millions may be entitled to carers credit but have just hours to claim some of the entitlement for the previous tax year.
The tax year runs from April 6 to April 5 and carers credit can be backdated.
So you'll need to apply for the support by tomorrow to get it for the 2022/23 tax year.
Getting this, could boost your state pension by £1,000s of pounds a year, the MSE team said. Here's how...
What is carers credit?
If you care for someone who is on certain benefits for at least 20 hours a week and you are of working age you could be entitled to carers credit.
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You have to be aged 16 or over and under state pension age, and the person you're caring for must be on certain benefits - see for the full list.
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Credits aren't paid in cash but instead they're a national insurance (NI) credit that helps with gaps in your national insurance record.
This is important because how much you eventually get - if anything - from the state pension is .
You don't need to apply if you get carer’s allowance or child benefit for a child under 12 as you’ll automatically get credits, and if you are a foster carer you should instead.
How do I apply?
Before applying check your state pension forecast as the carer's credit won't boost you're entitlement beyond the maximum level.
Calculate the hours you provide care for and check your eligibility.
You need at least 10 years of NI credits to get any pension at all, and 35 years to get the maximum amount, which is currently worth £203.85 a week).
If you have gaps to fill and ar eligible for carers credit you can apply by downloading and sending back the .
You can get help by calling the carer allowance unit on 0800 731 0297.
If you met the eligibility for carers credit last year 2022 - 2023 you need to make a claim by tomorrow April 5 2024 so you can be backdated.
You can still backdate your claim if the person you are caring for has passed or no longer needs your care.
What about carers allowance?
The carer's credit is different to the carer's allowance, which is for those who care for someone on certain benefits for at least 35 hours a week.
If you do, you can get paid £ £76.75 a week, which is worth £3,991 a year.
To qualify, the person you care for must already get one of these benefits:
- Personal independence payment (PIP) - daily living component
- Disability living allowance - the middle or highest care rate
- Attendance allowance
- Constant attendance allowance at or above the normal maximum rate with an Industrial Injuries Disablement Benefit
- Constant attendance allowance at the basic (full day) rate with a war disablement pension
- Armed forces independence payment
For each week you get carer’s allowance, you’ll also automatically get national insurance credits.
It's estimated that around 440,000 people are missing out on carer's allowance.
You can apply for the carer's allowance either online on the gov.uk website or by post.
To claim by post, you need to download a form online. The address to send it to is at the end of the form.
How to check what benefits you could be entitled to
The quickest way to see what benefits you may be able to claim is to use one of the three benefit calculators recommended by Gov.uk.
Each one is free to use. They are:
Before using the tools, make sure you have key financial information to hand, such as bank and savings statements, and information on pensions and existing benefits.
If you live with a partner or family, get their basic financial information together too as this could affect your claim.
For each of these, you’ll be asked information about your circumstances, such as your current employment and income.
You’ll also need to give information about yourself, including your age and who you live with.
You can then use the contact information on to get the ball rolling and apply for what you're owed.
Of course, the tools only provide an indicator of what benefits you can claim - and usually don't include means tested benefits, so you may be entitled to even more.
What other tax deadlines are there?
Time is also running out for, out for eligible Brits to make use of their annual ISA allowance.
An ISA (individual savings account) is a type of savings account where you can save up to £20,000 each year tax-free - and some of them even offer free cash top-ups too.
The tax year ends tomorrow so anyone looking to take advantage of the tax-free savings and bonuses needs to put money into an ISA quickly.
Those on the younger side of the age eligibility need to be warned minimum age at which you open an ISA will soon be rising.
Each year, everyone over 16 gets an ISA allowance, which lets them save their cash tax-free.
But on April 6 this will be rising from 16 to 18, meaning a 17-year-old will be able to open an ISA tomorrow but not on Saturday.
The only exception to this is Virgin Money's easy-access ISA.
It pays 5.01% and can be opened and managed online, though you can only withdraw three times a year.
Bear in mind as well that the rate drops to 2% from the fourth withdrawal onwards.
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Martin says it's a good idea for 16 and 17-year-olds to open an account ahead of the deadline, even if you're not likely to max out the £20,000 limit.
You can open an ISA with as little as £1, though each ISA has its own rules about how much you can deposit each year and how much you can get as a bonus.
Do you have a money problem that needs sorting? Get in touch by emailing [email protected].
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