The Cost of Living support package has been designed to help over 8 million households in receipt of mean tested benefits. The details for Cost of Living Payments due in the 2023-24 tax year were published earlier this year and have recently been updated.
Eligible recipients will receive up to three Cost of Living Payments of £301, £300 and £299 during the course of the current tax-year. This includes those receiving pension credit, and these payments will be made separately from other benefit payments. The first payment of £301 was made between April-May 2023.
HMRC has confirmed that around 840,000 families, who receive tax credits and no other qualifying benefits, will receive their £300 autumn Cost of Living second Payment between 10 and 19 November 2023. These payments are made automatically. Any individuals who expected a payment but did not receive one are asked to wait until after 20 November to contact HMRC. This is to allow time for their bank, building society or credit union to process the payment.
In addition, more than 7 million eligible UK households are receiving £300 directly from the Department for Work and Pensions (DWP) between 31 October and 19 November 2023.
Pensioner households will also receive £300 which will be paid as a top up to those eligible for the Winter Fuel Payment in November and December. Combined with the one-off Cost of Living Disability Payment earlier this year, relevant households will receive £1,350 in total.
The third Cost of Living Payment of £299 is due to be paid in spring 2024.