Martin Lewis issues warning to Brits after thousands miss out on £500 payment

Martin Lewis has urged Brits to “spread the word” following reports they could be entitled to a free £500 payment.

The MoneySavingExpert founder, who is this week a guest presenter on Good Morning Britain, took to Twitter to reveal his latest financial tricks, tips, and advice in the wake of an episode.

Offering his latest guidance, the finance expert and ITV regular warned: “Spread the word.

“Schools are sending many children home due to someone in class/year group bubble testing positive for Covid.”

READ MORE:Martin Lewis gets lost trying to find toilets during ad break on Good Morning Britain

He then added: “If so, and you then can’t work due to needing to be home with them, this (not just NHS test & trace) can trigger the £500 payment for those on low incomes.”

One replied: “It’s a shame that it’s only ‘very low income’ not ‘medium income’ or ‘high income’. We all have to work, we all will lose pay no matter how much that is! So unfair on working parents!”

And a second said: “Low income only? What qualifies as low income? My wife has had to change her hours to take our youngest to school, whilst our eldest isolates. I’ve had to reduce my workload whilst WFH to oversee homeschooling etc, but I don’t qualify as low income.”

The UK government defines the low-income limit as £19,200.

“The government’s department of work and pensions defines low pay as any family earning less than 60% of the national median pay,” a description reads.

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Martin Lewis’ MoneySavingExpert explains how you can claim the extra cash and who is eligible too.

Local councils give out the money, so that’s who you’ll need to call or get in contact with to get your £500.

You can use the council website checker to find out the contact details of yours.

If you receive Universal Credit, Working Tax Credit, Income-based Employment and Support Allowance, Income-based Jobseeker’s Allowance, Income Support, Housing Benefit or Pension Credit, you will be eligible.

If you’re not on any of those schemes, you could still get the money, but it’s up to your local council to decide, and usually reserved for those on a low income or suffering financial hardship due to not being able to work.

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