HM Revenue and Customs (HMRC) has confirmed the date when one million families will begin to receive the latest round of Cost of Living payments. Claimants on tax credits are next in line for a £301 cash boost.
Chief Secretary to the Treasury, John Glen, admitted: “Higher prices make life difficult for everyone, which is why our priority is to halve inflation this year". Adding: “But we are also going further to support those struggling most, with a total package of support worth an average of £3,300 per household this year and next – including up to £900 in direct cash payments starting next month for families receiving tax credits.”
There are one million eligible claimant families receiving tax credits, and no other means-tested benefits. They will get the first 2023-24 Cost of Living Payment from Tuesday, May 2, 2023.
