Households across the country have started to receive the £300 cost of living payment from HM Revenue and Customs (HMRC). Around 840,000 households are eligible, and the payments will be given to people who exclusively receive tax credits from HMRC and no other benefits.
More than seven million households are expected to get the payment from the Department for Work and Pensions (DWP), reports the MEN. Payments from HMRC started to be sent on November 10, and the UK Government confirmed the majority should be made by November 19.
HMRC said payments will be made automatically. Angela MacDonald, HMRC’s deputy chief executive and second permanent secretary, said: “The £300 Cost of Living Payment will deliver further financial support to eligible tax credits customers across the UK.
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"Another payment will be made by spring 2024 to those entitled to receive it. HMRC customers will receive the payment automatically, with no action required from them, to make this as simple as possible.”
However, HMRC has said that if you don't receive the cost of living payment after November 20, despite expecting it and believing you were eligible, you should contact them as there may be an issue with the payment. HMRC highlighted to wait until after November 20 because that gives time for a claimant's bank, building society, or credit union to process the payment.
Claimants should also be made aware that just because they previously received the cost of living payment, it doesn't automatically make them eligible for this one. Chief secretary to the treasury, John Glen, said: “I know Christmas can be a difficult time, which is why this £300 payment will come as a welcome boost for hundreds of thousands of families.
"But the best help we can give is halving inflation this year.”
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