The countdown is on for the second Cost of Living payment, with the second amount of up to £324 set to drop into bank accounts within just a matter of weeks. Cost of Living payments have been introduced by the UK government in an attempt to cushion the blow of rising food, fuel and energy costs.
A total of £650 will go out to certain households over the course of the year in the form of two payments. The first instalment of £326 has already been made to more than 7.2 million households, the Department for Work and Pensions (DWP) has said. Now, many recipients are eagerly awaiting the second instalment, reports Nottinghamshire Live.
The schedule for payment dates varies depending upon the benefit or tax credit to which you are entitled. A total of £2.4 billion has been paid to households on low incomes in England, Wales, Scotland and Northern Ireland, with a second instalment of £324 due to land in bank accounts in the autumn. Payments from HMRC for those on tax credits only will follow shortly after to avoid duplicate payments.
