Universal Credit is a new state benefit that is gradually replacing other means tested working age benefits.  For most people it is no longer possible to make a new claim for Tax Credits and existing Tax credits claiments are being moved over to Universal Credit in a phased migration.

Univeral Credit is calculated on either a weekly or monthly assessment period.  If you are self employed you will need to report your profits to the DWP on a monthly basis.  Reporting is done on the cash basis - money in and money out for your assessment period.

You must report your monthly earnings to the DWP between the period of seven days before to 14 days after the end of your assessment period.

For an easy step by step guide on what you need to report follow this link to the Chartered Institute of Tax's website.