More than one million people in receipt of Tax Credits from HM Revenue and Customs (HMRC) are set to receive a cost of living payment worth £301 from Tuesday, May 2. The first part of the £900 means-tested support package for those on Working Tax Credits or Child Tax Credits will be paid until May 9, 2023.
Last week, the Department for Work and Pensions (DWP) delivered 4.8 million payments of £301 to those on income-related benefits including Universal Credit, Pension Credit and Income Support. These payments will continue to be made to a further 3.4m eligible claimants until May 17, 2023.
All cost of living payments will be made automatically, so there’s no need to apply - if you receive a text or email asking you to apply or confirm account details for the payment to go into, it is a scam. Payments for those on Tax Credits will appear in bank statements or online accounts as ‘HMRC COLS’.
