Universal Credit Minimum Income Floor Reinstated

Universal credit includes a minimum income floor mif if you are gainfully self employed and your business has been running for more than 12 months.

Universal credit minimum income floor reinstated. The mif is an assumed level of earnings. Universal credit has seen a radical shake up in the new budget as announced by rishi sunak yesterday. Claimants will not face a minimum income floor going forward as part of measures to protect. Universal credit is a new welfare scheme available to those who are unemployed or on a low income.

The more you earn over the minimum income floor the less your universal credit payment will be. The minimum income floor mif usually applies to all new universal credit claimants unless they are within the first 12 months start up period of their business or they have moved across as. It can be paid to those who are self employed including claimants who decide to start their own.