More than one million families in receipt of Tax Credits, and no other means-tested benefits, will get their second cost of living payment this month directly from HM Revenue and Customs (HMRC). Payments of £324 are set to land in bank accounts between Wednesday November 23 and Wednesday 30, 2022.
The payment window opens on the final day of scheduled deposits being made to millions of qualifying households on eligible means-tested benefits between November 8 and 23. HMRC said the reason for the delay is to reduce the risk of an overlap in payments and possible duplication, which would result in an overpayment that would need to be repaid.
This £324 UK Government payment will be paid automatically into most eligible Tax Credit-only customers’ bank accounts - Working Tax Credits and Child tax Credits. There is no need to apply, so if you receive an email, text or phone call telling you that you need to claim the one-off payment, it is a scam.
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. The £324 will be paid automatically into bank accounts, so people don't need to do anything to receive this extra help.”
Eligibility for £324 Tax Credits-only cost of living payment
Remember, this will be paid between November 23 and 30.
You will be eligible for the second cost of living payment of £324 if you received, or later receive, for any day in the period August 26, 2022 to September 25, 2022 either:
- a payment of Tax Credits for the tax year 2022 to 2023
- an annual award of at least £26 of Tax Credits for the tax year 2022 to 2023
Key points to know about the payment
If you get both Child Tax Credit and Working Tax Credit, you will receive a cost of living payment for Child Tax Credit only.
If you get Tax Credits from HMRC and a low income benefit from the DWP, you will get a cost of living payment from DWP only between November 8 and 23.
If you had a joint claim between August 26 and September 25, 2022, a single payment of £324 will be sent using the same payment method used between these dates, if you’re eligible.
Your payment might come later, for example if you are awarded a qualifying benefit at a later date or you change the account your benefit or tax credits are paid into.
Full details of the cost of living payments can be found on the GOV.UK website here.
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