The Department for Work and Pensions (DWP) has provided more precise guidelines for members of the public who want to claim the first instalment of the £900 cost of living payment.
Millions of households across the UK have been waiting over the past few months to find out if they will be eligible for the next round of cost of living payments. Now, more specific details around who will be considered eligible for the payment have been released by DWP.
The payments will begin arriving in people's bank accounts between April 25 and May 17, just in time for the new tax year where a series of financial changes will be taking place, potentially putting more pressure on people's financial situations.
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Jeremy Hunt, Chancellor of the Exchequer, added: “I know that times are tough, which is why a key focus of the Spring Budget was supporting people with the cost of living and helping people into well-paid work.
“Not only are we providing £900 in direct cash payments to millions of the most vulnerable households, we’ve also extended the Energy Price Guarantee to hold bills down until energy prices fall, raised the National Living Wage to £10.42, put an end to the prepayment meter premium and delivered a plan that will more than halve inflation this year – ensuring everyone’s incomes go further.”
Here's a breakdown of who will be eligible for the cost of living payment...
Who is eligible for the £301 cost of living payment?
In order to be considered eligible for the cost of living payment, you must have received a payment (or payment for an assessment) from one of the following benefits between January 26 and February 25, 2023:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension Credit
If you are eligible for the cost of living payment via Tax Credits alone, then you will receive your payment from HMRC at a slightly later date than those receiving it from the DWP.
It's important to note that the payment will be made automatically through a system. So neither the DWP or HMRC will ask you to apply for cost of living payment.
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