Tax Credits claimants won't receive their £301 Cost of Living Payment from April 25

Millions across the country will soon see the first Cost of Living Payment landing into their accounts from tomorrow (April 25).

However, if you receive Tax Credit payment from HM Revenue and Customs (HMRC), then you may have to wait a bit longer. According to HMRC, roughly one million households who receive Tax Credits alone will begin to receive the first payment of £301 from Tuesday, May 2.

This will be the same payment that those receiving payments from the Department for Work and Pensions (DWP) will begin receiving tomorrow and is part of the £900 payment being spread across 2023/24. Tax Credit claimants have been urged to keep an eye on their bank accounts as the payment will come with the reference HMRC COLS.