Tax Credits claimants are having to wait longer than other benefit claimants for the next £324 cost of living payment.
More than one million families will receive the second cost of living payment during the last week of November. Payments for £324 are due to be made between Wednesday November 23 and Wednesday November 30, 2022 to those on Tax Credits, and no other means-tested benefits.
Those who claim other benefits, such as Universal Credit, are set to receive their second payment earlier. They are due to receive the financial support between November 8 and 23, reported the Daily Record.
READ MORE: Martin Lewis issues £66 warning to those on pre-payment meters
Former DWP Minister, now the new Attorney General in Rishi Sunak’s Cabinet, Victoria Prentis MP, recently explained that some payments are being made later to avoid the risk of overpayments in case someone receives two payments.
Ms Prentis said: “HMRC issues payments to people on Working Tax Credits after the other payments have been made, to allow time to ensure those who claim Tax Credits as well as a means tested benefit do not receive the payment twice. This decreases the risk of overpayments to tax credits customers.”
The £324 cost of living payments will land automatically into most eligible DWP and Tax Credit-only customers’ bank accounts - there is no need to apply. If you receive an email, text or phone call telling you that you need to claim the one-off payment, it is a scam.
Eligibility for £324 Tax Credits-only cost of living payment
This will be paid between November 23 and 30. You will be eligible for the second cost of living payment of £324 if you received, or later receive, for any day in the period August 26, 2022 to September 25, 2022 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 get both Child Tax Credit and Working Tax Credit, you will receive a cost of living payment for Child Tax Credit only. If you get Tax Credits from HMRC and a low income benefit from the DWP, you will get a cost of living payment from DWP only.
If you had a joint claim between August 26 and September 25, 2022, a single payment of £324 will be sent using the same payment method used between these dates, if you’re eligible. Your payment might come later, for example if you are awarded a qualifying benefit at a later date or you change the account your benefit or tax credits are paid into.
Full details of the cost of living payments can be found on the GOV.UK website here.
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