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How to qualify for cost of living payment as millions to receive £300 this month

How to qualify for cost of living payment as millions to receive £300 this month

Millions of people are set to receive a payment this month

A cost-of-living payment is going to hit the banks of millions of people this October.

Everything just feels so expensive all the time at the moment, you might leave the house to pick up some essentials at the shops and be tempted to call the police for daylight robbery by the time you get back.

And for a lot of people across Britain, the cost of living crisis is making life incredibly difficult.

So over this year, the Department of Work and Pensions (DWP) and HM Revenue and Customs (HMRC) are paying out £900 to households over the course of the year in an attempt to ease some of the pressure.

Like last year, energy bills are expected to once again rocket – adding to the price of, well, pretty much of everything being sky-high.

If you’re eligible for this cost-of-living payment, you should of received a first lot of £301 back in the spring.

And now, your second payment will finally be coming through, starting from this month.

The next payments will be made by DWP between October 31 and November 19, with HMRC paying between November 10 and November 19.

A third similar payment will be made early into the next year.

The payment will hit bank accounts this month.
Getty Images/Stock Photo

Altogether, about eight million households are receiving these payments – spread between DWP and HMRC.

The majority of people who qualify for the cost-of-living payment will also be eligible for other financial support; such as a disability cost of living payment, or similar pensioner cost of living support as well as a winter fuel payment.

If you’re not sure if you’re eligible, you will be if you claim any of the following:

· Universal Credit

· Income-based Jobseekers Allowance

· Income-related Employment and Support Allowance

· Income Support

· Working Tax Credit

· Child Tax Credit

· Pension Credit

To qualify for this round of payment, you need to have been eligible for the payment of a qualifying benefit between 18 August and 17 September 2023, or payment for an assessment benefit that ended between those dates.

Prices do feel sky-high at the moment.
Getty Images/Stock Photo

If you’re one of the 830,000 households receiving the payment from HMRC, you must have received payment of tax credits for any day between 18 August and 17 September.

If you meet the criteria then you’ll receive the money automatically and don’t need to do an application – so thankfully, you don’t need to go through the hassle of contacting the government.

In an announcement of the second round of payments, the Secretary of State for Work and Pensions, Mel Stride, said: "The best way we can boost bank balances is by bearing down on inflation, but as we get there, we are ensuring the most vulnerable households are cushioned from high prices with a further Cost of Living payment.

"Alongside this, thousands of Work Coaches across the country are helping find work, increase their hours and boost their skills.

“I encourage anyone who wants to progress their career and strengthen their finances to visit their local Jobcentre to find out what help is available."

Featured Image Credit: Getty Images/Stock Photo

Topics: Money, UK News, Cost of Living