Cost of Living Payments Distributed to Hundreds of Thousands of UK Households
Hundreds of Thousands to Receive Final Cost of Living Payments
In the latest round of cost of living payments, approximately 700,000 households in the UK, who are tax credit recipients without other qualifying benefits, are set to receive a £299 payment starting Friday. These payments, totaling up to £900 for eligible recipients, are being distributed by HM Revenue and Customs (HMRC) between February 16 and 22, 2024.
Continued Distribution of Cost of Living Payments
Moreover, over seven million eligible households have already been allocated the £299 payment directly from the Department for Work and Pensions (DWP) between February 6 and 22. This distribution marks the third and final payment for the 2023/24 period for those on means-tested benefits, including universal credit and pension credit.
Reporting Missing Cost of Living Payments
HMRC has outlined a procedure for reporting any missing payments. If individuals believe they should have received a payment but did not, they can report it to HMRC. Some of the key dates and payments to look out for include:
– £301 payment between April 25 and May 17, 2023
– £300 payment between October 31 and November 19, 2023
– £150 Disability Cost of Living Payment between June 20 and July 4, 2023
Automated Payment Process
Notably, both HMRC and DWP payments are automated, with HMRC payments reflecting as “HMRC COLS” on bank statements and DWP payments showing up with the national insurance number followed by “DWP COL.” These payments are tax-free and do not impact existing benefit awards.
Statement from HMRC Director General
Myrtle Lloyd, HMRC director general for customer services, highlighted the seamless process for eligible tax credit customers, emphasizing that the £299 cost of living payment requires no action from the recipients.
Additional Winter Benefit Support Programs
During the winter months, individuals can access three key support schemes to alleviate financial burdens associated with the cold weather:
– Cold Weather Payments
– Warm Home Discount
– Winter Fuel Payment
Contacting HMRC for Payment-related Concerns
If individuals expecting payments from HMRC have not received them within the designated time frames but believe they qualify, they are advised to reach out to HMRC after February 23 to allow sufficient processing time by banks and financial institutions.
FAQs
What are the key dates for reporting missing payments?
Key dates for reporting missing payments include:
– £301 payment between April 25 and May 17, 2023
– £300 payment between October 31 and November 19, 2023
– £150 Disability Cost of Living Payment between June 20 and July 4, 2023
How are HMRC and DWP payments reflected in bank statements?
HMRC payments appear as “HMRC COLS,” while DWP payments display the national insurance number followed by “DWP COL.”
What is the process for accessing Cold Weather Payments?
Individuals residing in areas experiencing seven or more days of temperatures at or below zero are eligible for £25 for every seven days of cold weather.
Who qualifies for the Warm Home Discount?
Individuals on low incomes with high energy costs or those receiving the Guarantee Credit element of Pension Credit are eligible for a one-time £150 payment to assist with energy bills.
What is the Winter Fuel Payment?
Individuals over the state pension age living in the UK automatically qualify for a payment ranging from £250 to £600 to cover heating expenses.
