Millions across the country have been benefiting from a series of Cost of Living payments over the past few months.
The first payment, worth £301, was issued in the spring of this year for both DWP claimants and those receiving Tax Credits. However, many are still facing immense pressure on their finances, especially with the sustained high food costs.
Because of this, millions of Brits may be looking towards the next boost to their finances via the second Cost of Living instalment. The next payment, worth £300, will be issued to eligible benefit and Tax Credits claimants all across the country.
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While an official date for the payment is yet to be released by the government, it is understood that the second instalment will be issued during the autumn of this year for 'most people'. Like the first instalment, the £300 payment will be issued to low-income households who received a payment from an eligible benefit during a specific qualifying period.
While the qualifying period for this instalment is yet to be announced, we do know which benefits are eligible. This includes:
- income-based Jobseeker’s Allowance (JSA)
- income-related Employment and Support Allowance (ESA)
- Income Support
- Pension Credit
- Universal Credit
- Child Tax Credit
- Working Tax Credit
DWP secretary Mel Stride said: “These direct payments will help people right across the UK over this year and the start of the next, as we continue to provide consistent, targeted and substantial support for the most vulnerable.”
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