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Nottingham Post
Nottingham Post
National
Karen Antcliff

Millions to start receiving £324 second cost of living payment from tomorrow, HMRC confirms

From Wednesday, November 23, millions of UK households claiming tax credits will start to receive the second Cost of Living Payment. Angela MacDonald, HMRC’s Deputy Chief Executive and Second Permanent Secretary, said: "This second Cost of Living Payment will provide further financial support to eligible tax credit-only claimants across the UK."

More than one million claimant families who are receiving tax credits, and no other means-tested benefits, will get their second Cost of Living Payment from Wednesday , HM Revenue and Customs (HMRC) has confirmed. This £324 government payment will be paid automatically into most eligible tax credit-only customers’ bank accounts between Wednesday, 23 and Wednesday, November 30, meaning the payment will be in bank accounts in plenty of time for Christmas.

Eligible claimants should look out for the reference ‘HMRC COLS’ on their bank statements confirming the second payment. Ms MacDonald added that people don’t need to do anything to receive this extra help with the amount automatically paid into accounts.

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The second payment will see more than 8 million households across the UK receive their £324 cost of living cash boost by the end of the month and follows the first cost of living payments of £326, which eligible families received from Department for Work and Pensions (DWP) from July and HMRC from September.

The government recently announced that households receiving DWP benefits will get their second Cost of Living Payment from 8 November continuing through to 23 November. This includes tax credit claimants who also receive other income-related benefits from DWP.

HMRC is making payments shortly after DWP in order to avoid duplicate payments.

This latest payment comes on top of wider government support with the cost of living this autumn and winter, including:

  • the £150 Disability Cost of Living Payment, already paid to around 6 million disabled people
  • more than 8 million pensioner households who will receive an extra one-off £300 Winter Fuel Payment this year

This is in addition to an extension to the Household Support Fund, which is providing an extra £421 million for use between October 2022 and March 2023 to help vulnerable people with the essentials. A £150 Council Tax rebate was sent earlier this year to those in Council Tax bands A to D in England, creating at least £1,200 in direct support for millions of households.

If tax credit customers believe they are eligible but have not received a payment between the payment dates, they should wait until 7 December at the earliest to contact HMRC. This is to allow time for their bank, building society or credit union to process the payment. We won’t be able to provide customers with any further information before this date.

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