Millions to receive £300 cost-of-living payment to their bank account this month

Millions of people will start to receive payments this month to attempt to ease the pressure of the cost of living crisis as bills are set to soar once again.

Much like last year, energy bills are expected to rise dramatically once again, and the price of – well – everything is still through the roof.

The Department of Work and Pensions and HM Revenue and Customs (HMRC) are paying out £900 over the course of the year, with the first payment of £301 having been received in Spring 2023.

Now, the second payment – this time £300 – is set to be made starting from the beginning of October, and then a third similar payment will be made early into the next year.

In total, around eight million households have been receiving the payments, with DWP paying out to seven million households, and HMRC picking up the payments for 830,000 more households.

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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."

Most of the people who are eligible for the cost of living payment will also be eligible for other support, such as a disability cost of living payment, or similar pensioner cost of living support, as well as a winter fuel payment.

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

If you claim any of the following benefits, you will be eligible for the payment:

· Universal Credit

· Income-based Jobseekers Allowance

· Income-related Employment and Support Allowance

· Income Support

· Working Tax Credit

· Child Tax Credit

· Pension Credit

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

If you’re through HMRC, you must have received payment of tax credits for any day between August 18 and September 17.

If you meet the criteria, the money will be sent out automatically, meaning that you will not need to apply if eligible.

So, there’s no need to contact the government.

Topics: UK News, Politics, Cost of Living, Money

Tom Wood

Tom Wood is a LADbible journalist and Twin Peaks enthusiast. Despite having a career in football cut short by a chronic lack of talent, he managed to obtain degrees from both the University of London and Salford. According to his French teacher, at the weekend he mostly likes to play football and go to the park with his brother. Contact Tom on [email protected]

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