HM Revenue and Customs (HMRC) have revealed the date when people claiming Tax Credits will receive the second cost of living payment.
The UK Government department confirmed that the approximately one million households who claim Tax Credits, and no other means-tested benefits, will get the £324 cash boost next month. Payments are scheduled to be made between November 23 and November 30.
As reported by the Daily Record, the money will automatically be paid to eligible people's bank accounts, meaning there is no need to apply. If you are sent an email or a text message telling you that you need to claim the money, it is a scam.
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HMRC’s Deputy Chief Executive and Second Permanent Secretary Angela MacDonald said: “This second Cost of Living Payment will provide further financial support to eligible tax credit-only claimants across the UK. The £324 will be paid automatically into bank accounts, so people don't need to do anything to receive this extra help.”
Eligibility criteria for £324 cost of living payment if you claim Tax Credits only
You will qualify for the second cost of living payment if you were issued, or later receive, for any day in the period August 26 to September 25 either:
- A payment of Tax Credits for the tax year 2022 to 2023
- An annual award of at least £26 of Tax Credits for the tax year 2022 to 2023
If you claim both Child Tax Credit and Working Tax Credit, you will get a cost of living payment just for Child Tax Credit. Meanwhile, if you receive Tax Credits from HMRC and a low-income benefit from the DWP, you will issued a cost of living payment from the DWP only.
If you had a joint claim between August 26 and September 25, one payment of £324 will be issued using the same payment method used between these dates.
You may receive the money later if you make a successful claim for a qualifying benefit at a later or you change the account your benefit or tax credits are paid into.
The UK Government recently announced that households receiving DWP means-tested benefits will get their second cost of living payment from November 8 continuing through to November 23.
HMRC is making payments shortly after DWP in order to avoid duplicate payments.
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