Many people will see £300 added to their bank balances
While millions of people have already received the cash, which is aimed at providing a financial boost during the ongoing Cost of Living crisis, from the Department for Work and Pensions , HMRC has now just begun sending the money to eligible people claiming tax credits.
You are eligible for the Cost of Living Payment of £300 if you received a payment of tax credits for any day in the period August 18 2023 to September 17 2023, or if you later receive a payment for any day in that period.READ MORE: £200 message issued to anybody with a Nationwide bank account If you’re getting both Child Tax Credit and Working Tax Credit, you will receive a Cost of Living Payment for Child Tax Credit only, which will be paid by HMRC. If you’re getting tax credits from HMRC and a low income benefit from DWP, you cannot get a Cost of Living Payment from both HMRC and DWP.Your payment might come later, for example if you’re awarded a qualifying benefit at a later date or you change the account your benefit or tax credits are paid into.
The payments are tax-free, do not contribute towards the benefit cap, and do not impact on existing benefits. A further cost-of-living payment is due to be made to eligible households next spring. Receive newsletters with the latest news, sport and what's on updates from the Liverpool ECHO by signing up here
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