Millions of Brits who are feeling the pinch during the cost of living crisis are set to receive money in November. The help is part of the government's financial support package.
The Department for Work and Pensions (DWP) confirmed the payment window for the second part of the £900 support is due to open at the end of next month. Around 8million households could be eligible.
It is aimed at Brits across Scotland, England and Wales. And people will receive £300 directly into their bank account between October 31 and November 19.
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People in receipt of Tax Credits and no other qualifying benefit from the DWP will receive the £300 payment from HM Revenue and Customs (HMRC). The money should arrive between November 10-19.
Payments will appear on accounts as either "DWP COL", or "HMRC COLS" along with your NI number. To be eligible from the DWP, you'd need to be entitled to a payment for a benefit between August 18 and September 17.
To be eligible for the £300 payment from the HMRC, you need to have received payment of Tax Credits for any day between August 18 and September 17.
£300 cost of living payment schedule
The second part of the £900 means-tested payment will be made between:
- October 31 – November 19: For people on DWP means-tested benefits and those in receipt of Tax Credits who also get a DWP qualifying benefit
- November 10 – November 19: For people in receipt of Working Tax Credits or Child Tax Credits only
Qualifying benefits for £300 payment
This will be paid to eligible households receiving the following benefits:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Working Tax Credit – paid by HMRC if no other DWP means-tested benefit is also claimed
- Child Tax Credit – paid by HMRC if no other DWP means-tested benefit is also claimed
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Qualifying periods for DWP and HMRC benefits
DWP benefits: To be eligible for the cost of living payment from DWP, you need to have been entitled to a payment for a qualifying benefit between August 18 and September 17, or payment for an assessment period, ending between these dates.
HMRC benefits: To be eligible for the cost of living payment from HMRC, you need to have received a payment of Tax Credits for any day in the period between August 18 and September 17.
Much-like every other means-tested cost of living payment, the money will be paid per claim, this means joint claimants would receive one payment.
For joint Tax Credits claimants, where one claimant receives Working Tax Credit and the other receives Child Tax Credit, payments will be made into the same bank account as the Child Tax Credit.
Other cost of living payments on the way
The £300 payment is the second of three lump sums totalling up to £900 for those eligible and on means-tested benefits in 2023/24. The third and final instalment of £299 will be paid next spring.
There will also be payments of £300 for people of State Pension age due from November that will be paid along with the annual Winter Fuel Payment.
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