Universal credit withdrawal taper rate reduced from 63% to 55%

October 27, 2021|In KRW Tax news|By Keith Witchell

In a bid to encourage those on lower incomes to work more without such a significant drop in their universal credit, the Chancellor announced a permanent reduction in the taper rate at which universal credit is withdrawn for every extra £1 earned, from the current 63% to 55%. This change will be made in the coming weeks, and will be in force no later than 1 December 2021.

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Keith Witchell