HMRC has confirmed when all three cost of living payments, totalling up to £900, will be paid out as the cost of living crisis continues. Earlier this month, the Department of Work and Pensions (DWP) confirmed that those claiming means-tested benefits will be paid between April 25 and May 17.
This will be the first of three payments issued to help with the rising cost of bills. Those receiving Working Tax Credit or Child Tax Credit are also eligible for the £301 payment, which is due between May 2 and May 9, according to the Liverpool Echo.
A further £300 has also been confirmed by HMRC and will be sent to those who are eligible to claim in autumn 2023, with a final £299 payment in the spring of 2024. The DWP has said that it has written to all Tax Credit customers with information about cost of living payments for 2023-24. It said that letters should arrive by April 24.
All cost of living payments will be tax-free, will not count towards the benefit cap, and will not have any impact on existing benefit afterwards. The payment from HMRC will appear on bank statements as 'HMRC COLS', referencing Cost of Living Support.
If you have not received the Cost of Living Payment from HMRC but believe you are eligible, you should wait until May 16 to contact HMRC in order to allow time for your bank, building society, or credit union to process the payment.
READ NEXT:
