Business
Millions missing out on benefits and government support, analysis suggests
Dan WhitworthReporter, Radio 4 Money Box
Andrea PatersonNew analysis suggests seven million households are missing out on £24bn of financial help and support because of unclaimed benefits and social tariffs.
The research from Policy in Practice, a social policy and data analytics company, says awareness, complexity and stigma are the main barriers stopping people claiming.
This analysis covers benefits across England, Scotland and Wales such as universal credit and pension credit, local authority help including free school meals and council tax support, as well as social tariffs from water, energy and broadband providers.
The government said it ran public campaigns to promote benefits and pointed to the free Help to Claim service.
Andrea Paterson in London persuaded her mum, Sally, to apply for attendance allowance on behalf of her dad, Ian, last December after hearing about the benefit on Radio 4’s Money Box.
Ian, who died in May, was in poor health at the time and he and Sally qualified for the higher rate of attendance allowance of £110 per week, which made a huge difference to their finances, according to Andrea.
“£110 per week is a lot of money and they weren’t getting the winter fuel payment anymore,” she said.
“So the first words that came out of Mum’s mouth were ‘well, that will make up for losing the winter fuel payment’, which [was] great.
“All pensioners worry about money, everyone in that generation worries about money. I think it eased that worry a little bit and it did allow them to keep the house [warmer].”
Unclaimed benefits increasing
In its latest report, Policy in Practice estimates that £24.1bn in benefits and social tariffs will go unclaimed in 2025-26.
It previously estimated that £23bn would go unclaimed in 2024-25, and £19bn the year before that, although this year’s calculations are more detailed than ever before.
“There are three main barriers to claiming – awareness, complexity and stigma,” said Deven Ghelani, founder and chief executive of Policy in Practice.
“With awareness people just don’t know these benefits exist or, if they do know about them, they just immediately assume they won’t qualify.
“Then you’ve got complexity, so being able to complete the form, being able to provide the evidence to be able to claim. Maybe you can do that once but actually you have to do it three, four, five , six, seven times depending on the support you’re potentially eligible for and people just run out of steam.
“Then you’ve got stigma. People are made to feel it’s not for them or they don’t trust the organisation administering that support.”
Although a lot of financial support is going unclaimed, the report does point to progress being made.
More older people are now claiming pension credit, with that number expected to continue to rise.
Some local authorities are reaching 95% of students eligible for free school meals because of better use of data.
Gateway benefits
Government figures show it is forecast to spend £316.1bn in 2025-26 on the social security system in England, Scotland and Wales, accounting for 10.6% of GDP and 23.5% of the total amount the government spends.
Responding to criticism that the benefits bill is already too large, Mr Ghelani said: “The key thing is you can’t rely on the system being too complicated to save money.
“On the one hand you’ve designed these systems to get support to people and then you’re making it hard to claim. That doesn’t make any sense.”
A government spokesperson said: “We’re making sure everyone gets the support they are entitled to by promoting benefits through public campaigns and funding the free Help to Claim service.
“We are also developing skills and opening up opportunities so more people can move into good, secure jobs, while ensuring the welfare system is there for those who need it.”
The advice if you think you might be eligible is to claim, especially for support like pension credit, known as a gateway benefit, which can lead to other financial help for those who are struggling.
Robin, from Greater Manchester, told the BBC that being able to claim pension credit was vital to his finances.
“Pension credit is essential to me to enable me to survive financially,” he said.
[But] because I’m on pension credit I get council tax exemption, I also get free dental treatment, a contribution to my spectacles and I get the warm home discount scheme as well.”
A scheme has been launched to compensate victims of the Post Office Capture IT scandal that saw former subpostmasters forced to repay shortfalls.
The Government said those affected can now apply for redress, with those found to be eligible set to receive £10,000 immediately and final awards potentially reaching up to £300,000 after full assessment by an independent panel, or more in certain cases.
The Capture system pre-dated the now infamous Horizon software, which has been responsible for around 1,000 wrongful convictions.
An independent report into faulty accounting system Capture was commissioned last year after subpostmasters said they had suffered similar problems to those faced by the Horizon victims.
The report by forensic accountants Kroll Associates, which concluded there was a reasonable likelihood that Capture – in use at Post Office branches between 1992 and 2000 – created financial shortfalls for postmasters.
In some cases, postmasters resorted to using their own savings to make up the difference.
The scheme will be not be open to postmasters who have criminal convictions related to Capture.
Those who were given criminal convictions must instead go through the Criminal Cases Review Commission, or its Scottish equivalent.
The Government has said it will “ensure that appropriate redress is given” to those where convictions are overturned by the courts.
The compensation scheme will be tested for the first 150 claimants before being rolled out more widely.
Post Office minister Blair McDougall said: “After over two decades of fighting for justice, postmasters and their families will finally receive recognition and recompense for the lives and livelihoods that Capture destroyed.
“I’d like to thank all of those victims who have helped us to design this scheme, allowing us to deliver on our promise of providing redress today.
“We can’t make up for everything they have lost, but today we begin restoring some of the dignity so cruelly taken away by this scandal.”
The Government said the scheme has been designed “hand in hand” with victims, while also taking lessons into account from redress schemes for the Horizon IT Scandal.
So far, more than £1.2 billion has been paid out in compensation to more than 9,000 victims of the Horizon scandal, it added.
New Delhi: The Central Board of Direct Taxes (CBDT) has extended the due dates for filing audit reports and Income Tax Returns (ITR) for the Assessment Year 2025–26, giving major relief to businesses, professionals, and firms whose accounts require auditing.
Earlier, the deadline to submit tax audit reports was October 31, 2025, and the corresponding ITR filing deadline was also October 31, 2025. However, considering technical delays and representations from taxpayers and professionals, the CBDT has now extended both these dates.
As per the latest circular, taxpayers who are required to get their accounts audited under the Income Tax Act, 1961 can now file their audit reports by November 10, 2025, instead of October 31. Consequently, the due date for filing the ITR for such taxpayers has also been pushed to December 10, 2025.
This extension applies to companies, Limited Liability Partnerships (LLPs), and other entities whose books of accounts need to be audited. It also benefits professionals and small businesses who were facing difficulties due to late availability of ITR forms and software utilities.
The government’s decision aims to provide adequate time for taxpayers and auditors to ensure accuracy and compliance while reducing last-minute rush and filing errors. The extension also reflects the government’s understanding of the challenges faced by the accounting community, especially with overlapping deadlines for GST audits and other financial filings.
Tax experts advise taxpayers to make the most of this extension by completing audits early and verifying data consistency between GST, TDS, and income tax returns to avoid discrepancies during assessment.
In summary, the new deadlines are:
Audit Report Filing: November 10, 2025
ITR Filing for Audited Taxpayers: December 10, 2025
Missing these dates could still attract penalties and interest, so taxpayers are urged to file well before the final deadline.
Gold and silver prices have experienced significant fluctuations recently. The US-China trade deal and the strengthening US dollar are the primary factors influencing these movements. Investors tend to reduce their investments in precious metals when market and global geopolitical conditions appear stable, leading to a decline in prices.
On the Multi Commodity Exchange of India (MCX), gold for December fell by Rs 1,546 to Rs 1,21,905 per 10 grams. Last week, which had fewer trading days due to holidays, saw gold prices drop by Rs 3,557 (2.80%). Similarly, silver for December decreased by Rs 1,964 to Rs 1,45,506 per kg.
During the same week, silver prices fell by Rs 9,134. Many traders engaged in transactions involving 12,428 gold bars and 20,367 silver bars. The progress in US-China trade talks has contributed to the declining prices since Friday.
The recent price decline can be attributed to the two-day meeting between US and Chinese leaders in Malaysia. They reportedly reached a consensus on key issues such as export rules and shipping tariffs. As a result, the US-China trade deal and the strong US dollar have diminished the demand for safe-haven assets, leading to a further decline in gold prices.
This week, central banks are expected to make significant decisions regarding interest rates. The US Federal Reserve is likely to cut rates by 0.25%, while the European Central Bank and the Bank of Japan are expected to maintain their current rates. Traders are closely monitoring these developments.
Expert Darshan Desai commented, “We should be prepared for significant fluctuations in the short term. Gold prices may fall further.”
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