Millions of households in UK to receive £300 cost-of-living payment

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Millions of households in UK to receive £300 cost-of-living payment

Millions of households in the UK will receive a £300 cost-of-living payment next month as part of rising costs, and the eligibility rules have been announced. This will be the second of three payments totalling up to £10000 for those eligible and on means-tested benefits, such as Universal Credit, Pension Credit, or Tax Credits. alongside this, thousands of Work Coaches across the nation are helping find work, increase their hours, and boost their skills, said Mel Stride, the secretary of state for work and pensions. I encourage anyone who wants to progress their career and strengthen their finances to visit their local Jobcentre to find out what assistance is available. The £300 cost of living payment will be sent directly to those eligible, meaning that those eligible do not need to apply, contact the government, or take any action to receive it.

The full list of benefit recipient who qualifies for the second cost of living is those who are eligible and receive at least one of the following: To be eligible, people must have been entitled to a payment for a qualifying benefit between August 18, 2023 and September 17, 2023, or payment for an assessment period, ending between these dates.

To receive tax credits from HMRC, people must receive a payment of tax credits for any day in the period between August 18, 2023 and September 17, 2023. The payment is tax-free, will not count towards the benefit cap, and will not affect existing benefit awards. The payment reference for bank accounts will be the recipient's National Insurance number followed by HMRC COLS or DWP COL. The DWP benefit claimants will receive their payment from HMRC between October 31 and November 19, while tax credits-only customers will receive their payment from HMRC between November 10 and November 19, 2023.

The DWP expects to pay over seven million households and HMRC will follow with around 830,000 more, bringing the total number of households eligible for around eight million. The pensioners will also be paid a further £300 payment later this year as an addition to the Winter Fuel Payment. Payment windows and eligibility criteria for the third cost of living payment will be announced soon, but Britons entitled to the sum can expect to see it in spring 2014.