HM Revenue and Customs (HMRC) recently estimated that more than one million people in receipt of Tax Credits received the £301 cost of living lump sum during the May 2-9 payment window. However, it has also issued new guidance for anyone who believes they qualify for the payment, but have not received it.
In a post on Twitter, HMRC said: "If you receive Tax Credits and expected the Cost of Living payment of £301 but cannot see it in your account - please wait until 16 May to contact HMRC, to allow time for your payment to be processed." The payment should appear in bank statements or online accounts as ‘HMRC COLS’.
The first part of the £900 means-tested support package is for those on Working Tax Credits or Child Tax Credits-only, who do not receive any other qualifying benefit from the Department for Work and Pensions (DWP). If they do, that payment window remains open until Wednesday, May 17 and money will continue to land in bank accounts until that date.
