HM Revenue and Customs (HMRC) is writing to over one million people on Tax Credits advising them about the upcoming £301 cost of living payment, due to start arriving in bank accounts between May 2 and 9, 2023. Letters are expected to arrive between April 19 and 24 and will advise claimants that they may be eligible for the first part of the £900 means-tested cost of living support from the UK Government.
The letter also outlines the 2023/24 cost of living payment schedule, which remains unchanged - £300 in the autumn and £299 next spring - with further details on exact payment windows and eligibility to be released nearer the time. If claimants are eligible and receive Working Tax Credits or Child Tax Credits along with a qualifying benefit from the Department for Work and Pensions (DWP), it will be paid between April 25 and May 17.
Payments from HMRC are for those on Tax Credits-only and will appear in bank statements or online accounts as ‘HMRC COLS’.
