MILLIONS of households will get a £324 cost of living payment directly into their bank accounts from today.
The £324 payment forms the second chunk of the £650 cost of living payment.
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Around eight million households have already been paid the first part of their £650 payment – but the next payment is due.
But the next payment, worth £324, is now due and will land automatically in your account if you are eligible between November 8 and 23.
But roughly one million households claiming tax credits will need to wait until later in the month to get the second payment.
This is to avoid duplicate payments where people claim tax credits and another qualifying benefit.
Households receiving tax credits will start to receive the £324 payment from Wednesday, November 23.
Anybody receiving the following benefits is eligible for the second half of the £650 cost of living payment:
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension Credit
- Universal Credit
You must have been entitled, or later found to be entitled to any of these benefits, between August 26 and September 25 this year.
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The payment will land automatically in your bank account if you are eligible – so you don’t need to do anything to get the help.
But anyone who claims both types of tax credits – child tax credit and working tax credit – will have the payment made into the bank account where child tax credits are paid.
Cost of living payments are tax-free, do not count towards the benefit cap and do not affect the amount you usually get.
The payment will come from HMRC.
It’s also worth noting that millions of Brits are missing out on other benefits they’re entitled to – adding up to billions of pounds in total.
Benefit calculators can help you check what you could be entitled to.
There are several benefit checker tools you can use – here’s our guide.
