A MILLION people have just weeks to wait to get their first instalment of the £650 cost of living payment.
Chancellor Rishi Sunak unveiled a giant support package earlier this year targeted at the most vulnerable households.
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Among the measures was a £650 cost of living payment which will eventually go out to eight million people.
The payment has been split into two instalments of £326 and £324 and the vast majority of the eight million eligible should already have received their first portion.
But there are around one million people on Tax Credits who haven’t yet received it.
The government announced earlier this month those in receipt of this benefit will start receiving the first payment from September.
That means for many in desperate need it could be a matter of weeks before they get their first payment.
The second instalment for those on Tax Credits is due to be paid in the winter, although the government is yet to confirm a specific month or date.
Am I entitled to the cost of living payment?
Millions of people on a range of benefits are due to get the £650 cost of living payment, including those on:
- Universal Credit
- Income-based JSA
- Income-related ESA
- Income Support
- Pension Credit
- Tax Credits
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If you are part of the group on Tax Credits, to get the first £326 payment, you must have been entitled, or later found to be entitled, between April 26 and May 25 this year to:
- a tax credits payment
- an annual award of at least £26 of Tax Credits
There are two types of Tax Credits – Child Tax Credit and Working Tax Credit.
If you receive both, you will only receive a £650 total payment for Child Tax Credits.
If you get Tax Credits from HMRC and a low income benefit from the Department for Work and Pensions (DWP), you will get a cost of living payment from only the DWP.
What other dates do I need to know?
There is plenty of support coming for hard-up households this year, so it makes sense to note on your calendar when to expect it.
Here are all the cost of living payment dates you should know about:
- September: 6 million people with disabilities get £150
- Autumn: tax credits claimants get first half of £650 payment
- From October: All households start to get £400 energy bill discount
- November/December: Low income pensioners get £300 cost of living payment
One key thing to bear in mind is that it is one payment per household.
That means if you have more than one person at your address who is receiving either Tax Credits or one of the above benefits, you won’t get more cash.
