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When You will receive next Cost of Living payment? The exact date and amount has been provided!

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Disbursements of the first tranche of the transfer in aid scheme in the UK will soon come to an end. When can residents count on the next payment?

As a reminder, with Boris Johnson’s decision, UK residents can count on a £650 transfer aid. The scheme has been called the Cost of Living payment and the first tranche payments are coming to an end.

Those Brits eligible for the transfer received £326 each from 14 July. A second transfer is planned for the autumn, but no specific date has been given.

According to The Sun, this will be between 14 and 31 October. So what can you do to qualify for the second payment?

You will need to meet similar conditions as before. The vast majority of eligible people take Universal Credit.

To get the first transfer, they had to have received any payment from UC between 26 April and 25 May. That was pretty much the only condition.

To get the second tranche, you will need to get at least one pound from Universal Credit between 26 July and 25 August – that’s the experts’ prediction.

Remember to check with your employer to make sure you don’t get a double payment during the so-called ‘qualifying period’ – this will rob you of any chance of receiving government help.

However, there is still a huge group who will not receive any transfer – despite receiving benefits and being in a difficult financial situation. Who are they referring to?

These are people who only receive the following benefits:

  • Attendance allowance
  • Carer’s allowance
  • Child benefit
  • Disability living allowance (DLA)
  • Contributory, or ‘new style’, Employment and Support Allowance (ESA)
  • Guardian’s allowance
  • Contribution-based, or “new style”, Jobseeker’s Allowance (JSA)
  • Maternity allowance
  • Personal Independence payment
  • State pension
  • Statutory adoption, maternity, paternity and shared parental pay
  • Statutory sick pay

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Self-employment in the UK. How do I become self-employed in the UK?

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Self-employment means that we are self-employed. It is the simplest form of doing business in the UK.

How do I register as self-employed?

Registration needs to be done no later than 3 months after starting your business and can only be done by UK residents. The easiest way to do this is online at the HMRC website. When registering, you will need to provide, among other things, your National Insurance Number, your home address and the scope of your planned services.

The Sole Trader (self-employed) has no legal personality. The Self-Employed person is liable for the business with all his/her assets. Taking up Self-Employment does not exclude the possibility of employment based on an employment contract.

Self-employed persons are subject to personal income tax (PIT) and are required to pay National Insurance contributions. Self-employed persons may join together to form partnerships.

In addition, sole traders are required to: submit annual tax returns, must register for VAT for turnover over £85k, have the option to employ staff and are required to keep adequate financial records and retain these documents and accounts for five years.

We can operate under our own name or under another name. If all or part of the work is done from home, we may be forced to pay more in rent for the premises. However, this amount is tax deductible.

It is important to know that for some services, you must first have a licence to provide these services, for example if you want to open a restaurant or become a taxi driver. Such licences are most often issued by local authorities.

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Water meter – is it a miracle way to save on bills? We explain whether it’s worth installing in your home

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Financial expert Martin Lewis explains on ITV whether it’s worth installing a water meter in your home. It turns out that such a move can sometimes reduce our bills by several tens of per cent!

For some time now, UK residents have been able to ask for a so-called water meter to be installed in their home. This is a device that counts the flow of water through the main pipes. It then transmits the consumption information to the company supplying water to the household. The bill shows the exact amount of water taken and it is this amount that we will pay for.

How does such a form differ from a traditional contract signed with a water supplier? Usually the company in question sets a fixed rate depending on the size and value of our house. In this way, we can use water without worrying about the amount, and we will still receive identical bills every month.

However, it may turn out that this form of billing is not cost-effective for us. When is it worth thinking about installing the aforementioned device? Well-known financial expert Martin Lewis answers these questions on ITV.

Według niego, w licznik wody powinniśmy się zaopatrzyć w sytuacji, gdy liczba domowników jest niższa niż liczba sypialni. – Przelicznik jest prosty: mieszkasz w domu 3 bedroom tylko w dwie osoby? Pomyśl nad water meter – mówi Lewis.

I przypomina, że takie urządzenie jest zawsze darmowe. O chęci jego zainstalowania powinniście powiadomić dostawcę wody. Następnie macie 12 miesięcy, aby testować to rozwiązanie i ewentualnie z niego zrezygnować.

A Wy macie doświadczenia w używaniu takiego urządzenia? Czy licznik wody rzeczywiście się opłaca?

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