Martin Lewis says if you earn less than £35,000 you could get £5,800 Universal Credit boost

Martin Lewis has issued an urgent warning to UK residents earning less than £35,000 per year, as they could be entitled to a payout of nearly £6,000. The financial advice expert is determined to make workers aware of the potential government financial aid available to them, with Universal Credit providing a crucial support for those earning below or at the national average.

According to the founder of MoneySavingExpert (MSE), around 1.4 million people earning under the £35,000 threshold are failing to claim up to £5,800 in basic Universal Credit payments that they are eligible for. This sum includes assistance for both living and housing costs, and Mr Lewis has cautioned that it's not just median earners who are missing out.

MSE, the site he established in 2003, suggests that workers earning under £35,000 are most likely to be missing out on payments from the catch-all benefit, but individuals earning up to £60,000 may also not be receiving all the benefits they're entitled to. Households with higher incomes can also qualify for financial help, especially if they have children and face increased childcare costs.

The money site also warns that individuals on similar or lower incomes might be missing out on other benefits, both means-tested and otherwise.

Speaking previously on Good Morning Britain, he highlighted the widespread issue of unclaimed benefits: "Let's start with Universal Credit 1.25 million people missing out on an average of around 9600 pounds a year. Who should be checking if they're entitled to these benefits?"

He went on to clarify the reach of Universal Credit, saying: "OK, so universal credit is the catch-all benefit for people of working age to help with living and housing. Now, the crucial thing to understand here is this is not just for people out of work. 41 per cent of universal credit applicants are people who get universal credit are in work"

He further explained the income parameters: "But you could be income stretching up to £40,000 a year of family income. If you've got Children and you're paying for childcare and you're paying for rent, you could still be entitled to universal credit. So that's my rule of thumb family income below 40 grand," reports Lancs Live.

He advised those unsure of their eligibility to use online tools: "Get yourself on an online benefits calculator. It will take about 10 minutes. Put your details in and see if you're entitled to this. And even if you checked a year ago because the thresholds went up in April. There are a few people not too many, but a few people who are now eligible who weren't eligible before."

He also shed light on other benefits that are often overlooked: "It's estimated 2.25 million people are not claiming £1,500 of Council Tax support per year, and approximately 530,000 people are missing out on £4,250 of Carer's Allowance." The criteria for Universal Credit were summarised as well, noting that those entitled to these benefit payments are typically either out of work, working (including self-employed or part-time), or unable to work due to health conditions or other related issues.

While millions are eligible to claim Universal Credit assistance, not everyone can immediately start claiming as they must meet certain criteria. Prospective claimants must live in the UK, be aged 18 or over (with limited exceptions for 16 and 17 year olds), be under State Pension age, and have £16,000 or less in money, savings, and investments. The government's Universal Credit calculator can be used by clicking here.