Millions of people in the UK are set to receive a £300 cost of living payment this week. The lump sum payment will be made directly into the bank accounts of households on certain benefits, including Universal Credit. The tax-free payment will be automatically made to eligible recipients. Payments are scheduled to be made between Tuesday, October 31 and November 19. However, there are certain checks that individuals should make to ensure they receive the correct amount.
Confirm your details
One of the first checks individuals should make is to confirm their eligibility for the cost of living payment. They can do this by visiting Gov.uk. Those who claim Universal Credit, Income-based jobseekers allowance, Income-related employment and support allowance, Income support, Working tax credit, Child tax credit, or Pension credit may qualify for the payment. To be eligible, individuals must have been entitled to any of these benefits between August 18 and September 17. Those who were later found to be entitled to these benefits during the same dates will also be eligible.
Don't expect immediate payment
Although eligible individuals should be paid automatically, payment dates vary depending on the benefit being claimed. Households on all eligible benefits except tax credits will start receiving the £300 payment from Tuesday, October 31. Due to the large number of people receiving the payment, the payments are staggered. Individuals should receive the money by November 19 at the latest. Those who only receive tax credits will be paid by HMRC between November 10 and 19 to ensure they do not receive the payment twice.
Check if you've been paid
Individuals should check their bank or building society account on their payment date to ensure they have received the payment. The payment reference for bank accounts will include the individual's National Insurance number followed by DWP COL or HMRC COLS for tax credit recipients. If the payment has not been received by November 19, individuals should contact the DWP or HMRC.
Act if you haven't received the cash
If the payment has not been received by November 19, individuals should contact the DWP or HMRC. Details on how to report a missing payment can be found on the government's website. A missing payment can be reported from November 20 using the secure.dwp.gov.uk website. Individuals who have missed out on this payment should ensure that they are claiming all the benefits they are entitled to in order to not miss the next payment in spring 2024.
What to do if you've missed out
If individuals have missed out on the payment, they should make sure they are claiming all the benefits they are entitled to. They can do a benefits check using the Turn2Us Benefits Calculator, which can be found at benefits-calculator.turn2us.org.uk. The £300 payment being made this week is only the second of three payments that make up the £900 total support. The first payment of £301 was made in April and May to over eight million households. The final payment of £299 will be made in the spring of 2024, with the qualifying dates to be announced later.
Check if you're eligible for benefits
There are several free online benefit calculators that individuals can use to see how much they might be able to claim and which benefits they may be eligible for. It is important to have key financial information, such as bank and savings statements, pensions, and existing benefits, on hand before using the calculators. The calculators provide an indicator of what benefits individuals may be eligible for, but may not include means-tested benefits. Entitledto's free calculator, as well as the benefit checkers from MoneySavingExpert.com and debt charity StepChange, can help individuals determine their eligibility for various benefits. The Turn2Us benefits calculator also calculates means-tested benefits.
