Millions of households across the United Kingdom are set to benefit from a £300 Cost of Living Payment, and we now have the precise date when this crucial financial
support will begin arriving this autumn.
This cash boost, directly administered by the Department for Work and Pensions (DWP), constitutes the second installment of three payments totaling £900 for this fiscal year.
Households that qualify for means-tested benefits, such as Universal Credit, Pension Credit, or tax credits, will receive their payments between October 31 and November 19.
Individuals who solely claim tax credits and do not meet the criteria for a DWP payment will receive £300 from HMRC between November 10 and 19.
The government has emphasized that these payments are tax-free, will not be considered in relation to the benefit cap, and will not affect existing benefit awards.
In addition to the Winter Fuel Payment, eligible pensioners will also receive an additional £300 payment later in 2023.
Recipients need not apply or take any action to receive the £300 Cost of Living Payment, as it will be automatically and directly sent to them. This applies to customers who receive only tax credits as well; they will receive the payment from HMRC.
Mel Stride, the Work and Pensions Secretary, remarked, "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 added, "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 DWP will make payments to over seven million households, with HMRC following suit for approximately 830,000 more. In total, around eight million households will be eligible for the Cost of Living Payment.
However, individuals are cautioned to remain vigilant against scammers impersonating government entities, as these cost of living payments are distributed automatically, requiring no further action on the part of recipients. Photo by Steph Gray from London, United Kingdom, Wikimedia commons.