MILLIONS of households will receive a £324 cost of living payment directly into their bank accounts from tomorrow.
The first instalment of the cost of living payment, worth £326, was paid in July, with those on tax credits paid later in September.
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But the next payment, worth £324, is now due.
Around eight million eligible households will see the money land automatically in their account between November 8 and 23.
But those on tax credits won’t start receiving the cash until later on.
That’s to avoid duplicate payments where people claim both tax credits and another of the qualifying benefits.
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.
The payment, worth £324, should be sent to all those claiming tax credits by November 30.
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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.
