Cost of living payment dates for £300 instalment confirmed – when you can expect sum from DWP
The cost of living payment dates for the second instalment of £300 have been announced
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Millions of households in the UK can expect £300 as part of the £900 cost of living support payment between October 31 and November 19, the Department for Work and Pensions (DWP) has confirmed.
This is the second of three payments totalling £900 for those eligible and on means-tested benefits, such as Universal Credit, Pension Credit or tax credits, in 2023/24.
People eligible for payments who claim tax credits only, and who don’t qualify for a payment from the DWP, will get the £300 from HM Revenue and Customs (HMRC) between November 10 and 19.
The payment will be made automatically and directly to the qualifying recipients.
The £300 cost of living payment instalment will be paid automatically
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It means those eligible don’t need to apply or contact the Government to get it.
Work and Pensions Secretary 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.”
Chancellor Jeremy Hunt said: “Halving inflation and getting price rises under control is the best way to support households struggling with their bills.
“But it is also right that we are helping the most vulnerable in our society, and this latest cost-of-living payment is part of a package of support worth £3,300 per household on average over this year and last to help those struggling the most.”
The cost of living payments are tax-free and won’t count towards the benefit cap. The first instalments of £299 were paid earlier this year.
The Government said they will not have any impact on existing benefit awards.
The payment reference for bank accounts will be the recipient’s National Insurance number followed by either “DWP COL” or “HMRC COLS”.
People may be eligible if they get Universal Credit, income-based Jobseeker’s Allowance, income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit or Pension Credit.
To get this latest payment from the DWP, they would need to have been entitled to a payment for a qualifying benefit between August 18 and September 17, or a payment for an assessment period ending between those dates.
To qualify for the £300 payment from HMRC, the person would need to have had a tax credits payment for any day between August 18 and September 17.
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Due to the Pension Credit backdating rules, people who are eligible for the benefit could still qualify for the second cost of living payment, as well as the third instalment which is due in spring 2024.
The total number of households eligible for the cost of living payment is around eight million, with the DWP paying more than seven million households and HMRC paying around 830,000 more.
The £300 payment for eligible pensioner households will be paid later this year alongside the Winter Fuel Payment.
Members of the public are being urged to be aware scammers are purporting to be from the Government and remember that cost of living payments are paid automatically.