More than eight million households will start to receive a £301 cost of living payment into their bank accounts from today.
The money is the first of three instalments that make up the £900 cost of living support.
If you’re eligible, the cash should arrive between April 25 and May 17.
This means not everyone will receive the money today - it will be sent out in stages over the next few weeks.
In order to receive the money, you must be claiming certain means-tested benefits during a qualifying period.
Here is everything you need to know.
Which benefits do I need to be claiming?
You need to be claiming one of the following means-tested benefits during the qualifying period to get the cash from today (Tuesday April 25).
The benefits are:
- Universal Credit
- Income-based Jobseekers Allowance
- Income-related Employment and Support Allowance
- Income Support
- Pension Credit
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If you claim Tax Credits from HMRC and no benefits from the Department for Work and Pensions (DWP) then you’ll receive your £301 at a later date.
You can see the payment dates for HMRC benefits below.
When was the qualifying period?
You need to have been entitled to a payment, or later found to have been entitled, between January 26 and February 25, to receive the money.
For those claiming Universal Credit, this counts as the qualifying assessment period.
But you will not be eligible for the cost of living payment if your benefit is reduced to £0 for the qualifying period.
This is often referred to as a "nil award".
Can I get the £301 if I backdate a benefit claim?
Some people could become eligible for the cost of living payment if they later backdate a benefit claim.
The DWP has said that those who put in a claim for Pension Credit before May 19 this year, will be automatically eligible to get the first £301 payment.
This is because Pension Credit can be backdated for three months, which would then cover the earlier qualifying period for the cash.
I claim Tax Credits - when will I receive the money?
Those who receive just Working Tax Credit or Child Tax Credit from HMRC are also eligible for the £301.
However, HMRC will pay this first instalment at a later date - these households will receive the cash between May 2 and May 9.
How do I know when the £301 has hit my bank account?
The £301 cost of living payment will show as "DWP COLP" in your bank account along with your National Insurance number.
Your National Insurance number is nine digits long and starts with two letters, followed by six numbers and one letter.
The cost of living cash will be paid in the same way as your usual benefit payment, so into the same bank account where you get normal payments.
The code for HMRC payments is very similar and will show as "HMRC COLS".
When will the next two payments be sent?
Dates for the second and third instalment of the £900 cost of living payments - set to be worth £300 and £299 - have also yet to be announced.
The second payment is due to be sent in autumn 2023, while the third payment will be sent in spring 2024.
Will the cost of living payments affect my other benefits?
All the cost of living payments will be tax-free, will not count towards the benefit cap, and will not have any impact on existing benefit awards.
I’m not entitled to the £900 cost of living payment - what other support is coming?
There will be a disability cost of living payment worth £150 being sent out during summer 2023.
This includes those in receipt of one of the following benefits:
Disability Living Allowance
Personal Independence Payment
Attendance Allowance
Scottish Disability Benefits
Armed Forces Independence Payment
Constant Attendance Allowance
War Pension Mobility Supplement
There will also be a £300 pensioner cost of living payment to all eligible households that get a Winter Fuel Payment.
The dates for both the £150 disability and £300 pensioner cost of living payments have not yet been confirmed.
