£500m support for vulnerable households

The government has launched a new £500 million package of support for vulnerable households. The new Household Support Fund will be used to help those most in need with essentials over the coming months as the country continues its recovery from the

The government has launched a new £500 million package of support for vulnerable households. The new Household Support Fund will be used to help those most in need with essentials over the coming months as the country continues its recovery from the pandemic.

The fund will be used to help support millions of households in England and monies will be distributed by councils. This means that local councils will also be able to use the funding to provide discretionary support to vulnerable households. This could include using small grants to meet daily needs such as food, clothing, and utilities. Cash will be made available to Local Authorities in October 2021.

The Barnett formula will apply in the usual way to additional funding in England. The devolved administrations will therefore receive up to £79m of the £500m. This will be allocated as follows: £41m for the Scottish Government, £25m for the Welsh Government and £14m for the Northern Ireland Executive.

This fund is in addition to other previously announced measures including the Warm Home Discount which provides a £140 rebate on energy bills each winter to over 2.2 million low-income households and the Cold Weather Payment which provides £25 extra a week for poorer households when the temperature is consistently below zero.

Source: Department for Work & Pensions Tue, 05 Oct 2021 00:00:00 +0100

Latest INSIGHTS

Check out our latest Insights for useful accounting tips and information.

What is a group company structure?

A group is formed when one company has control of, owns, a number of subsidiary companies.

A group is different to an arrangement where an individual owns a number of companies personally. In this case the companies would be called associated or

Read More

Is your income over £100,000?

If you earn over £100,000 in any tax year your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over £100,000 irrespective of age. This means that any taxable receipt that takes your income over £100,000 will result

Read More

Connected persons for tax purposes

The definition of a connected person for tax purposes varies.

A statutory definition of “connected persons” for Capital Gains Tax purposes is set out in Section 286 of the Taxation of Chargeable Gains Act (TCGA) 1992.

The legislation

Read More