ONE million families will get the second cost of living payment into their bank accounts from today.
Households claiming tax credits will get the second half of a £650 direct payment in days.
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One million people receiving tax credits will receive the second half of the £650 payment by November 30.
According to HMRC, all payments will be made between 23 and 30 November – it said all payments are being made as planned.
The £324 worth of support will be paid in the same way you usually get your tax credits.
The government is paying tax credit claimants later than those getting DWP benefits like Universal Credit to avoid paying anyone twice.
You must have been entitled, or later found to be entitled to tax credit payments of annual awards between April 26 and May 25 to get the cash.
The first half of the cost of living payment, which was £326, was paid in August.
Anyone who claims both types of the benefit – child tax credit and working tax credit – will have the payment made into the bank account where child tax credits are paid.
If you’re on tax credits, you don’t need to apply, you should get the payment automatically.
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If tax credits customers believe they are eligible but have not received a £324 payment between the published payment dates, they should wait until 7 December to contact HMRC.
This is to allow time for their bank, building society or credit union to process the payment.
Around seven million households on benefits like Universal Credit and pension credit have already got the cash after payments began from July 14.
Cost of living payments are tax-free, do not count towards the benefit cap and do not affect the amount you usually get from benefits.
In total an estimated 8.2million will get the cost of living cash payment.
Who’s eligible for the £650 cost of living payment?
Those on the following benefits have already had the first payment of £326:
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
- Universal Credit
A second part of the payment worth £324 will be made in autumn, but an exact date has not yet been confirmed by the government.
Those on tax credits are set to get the first part of the payment from Friday, September 2.
There are two types of tax credits:
- Child Tax Credit
- Working Tax Credit
This post first appeared on thesun.co.uk
