A cost of living payment worth a handy £300 is due to be paid from October 31, the government has now confirmed. The DWP payment will be paid to millions of people between October 31 and November 19 and HMRC Tax Credit households, meanwhile, will be paid between November 10 and November 19.
People will receive the handy windfall if they’re qualified for Income-based Jobseeker’s Allowance or Income-related Employment and Support Allowance, or also Income Support or Pension Credit, or Tax Credits (Child Tax Credit and Working Tax Credit) or alternatively Universal Credit, or Child Tax Credit or even Working Tax Credit.
Mel Stride, Secretary of State for Work and Pensions, said in a statement about the scheme: “The best way we can boost bank balances is by bearing down on inflation, but as we get there, we are ensuring the most vulnerable households are cushioned from high prices with a further cost of living payment.
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“Alongside this, thousands of work coaches across the country are helping find work, increase their hours and boost their skills. I encourage anyone who wants to progress their career and strengthen their finances to visit their local Jobcentre to find out what help is available.”
You need to have also been entitled to a payment between August 18 and September 17, or entitled to a payment for an assessment period ending between these dates. The money will be sent to all eligible eight million claimants automatically. The payment reference will show in your bank account as your National Insurance number followed by “DWP COL” or “HMRC COLSD”, the government says.
The third and final payment will be worth £299 and is set to be paid in the spring of next year amid the ongoing Cost of Living crisis, the government has also previously confirmed.
