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Cost of living final payment 2023-24

22 February 2024

The Cost of Living support aids 8 million households with benefits. Eligible recipients receive three payments: £301, £300, and £299, made separately. Confirmation for tax credit families and DWP payments already distributed to 7 million households.

The Cost of Living support package aims to assist over 8 million households with means-tested benefits. It publishes details of Cost of Living Payments due in the 2023-24 tax year in 2023 and updates them with details of the final payment.

Eligible recipients will receive three Cost of Living Payments of £301, £300, and £299 during the current tax year. This includes those receiving pension credit, and these payments will be separate from other benefit payments. They made the first payment of £301 between April and May 2023, and the second payment of £300 during August and September 2023.

Confirmation arrived that 700,000 families who receive tax credits and no other qualifying benefits would receive their £299 Cost of Living Payment between 16 and 22 February 2024.

In addition, the Department for Work and Pensions (DWP) has already made £299 payments directly to more than 7 million eligible UK households between 6 and 22 February 2024.

HMRC will display the payment to tax credits customers as ‘HMRC COLS’ on bank statements, referencing Cost of Living Support. Those receiving the payment from DWP will see their National Insurance number followed by ‘DWP COL.’

Source: Department for Work & Pensions Mon, 19 Feb 2024 00:00:00 +0100

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