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Eight million households to receive next £300 as dates for cost-of-living payment confirmed

Rebecca Goodman
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Rebecca Goodman

The next cost-of-living payment of £300 will be made between 31 October and 19 November, the Department for Works and Pensions (DWP) has confirmed.

This is the second of three payments which are being made between 2023 to 2024 to help people with rising costs and high inflation.

The payments are split into three batches of £300 and they will be made to eligible people who are already receiving means-tested benefits. The amounts vary slightly between the three payments and the first was £301, paid in April, and the last, of £299, will be paid next year.

Over seven million households will receive the payment from the DWP and HMRC will follow with around 830,000 more, bringing the total number of households eligible for the payment to around eight million.

Payments are automatically sent

To be eligible for the payment, someone must be receiving one of the following benefits already: Universal Credit, Income-based Jobseekers Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit, Child Tax Credit, or Pension Credit.

They need to also have been entitled to the payment for a qualifying or assessment period between 18th August and 17th September this year.

People who receive tax-credits only, and do not qualify for the payment, will receive £300 from HM Revenue and Customs (HMRC) between November 10th and 19th. To be eligible for the payment they need to have received a payment between 18 August and 17 September 2023.

The money will be sent automatically to those eligible and they do not need to apply for the cash. The reference for the payment will be the recipient’s National Insurance number followed by either “DWP COL” or “HMRC COLS”.

The payments are tax-free and do not count towards the benefit cap and won’t have any impact on existing benefit entitlements.

Low-income pensioners who are not yet claiming Pension Credit are also being urged to apply, as they may still qualify for the cost-of-living payment and their Pension Credit can be backdated by three months.

The Government also said anyone who is struggling with rising costs should visit their local council website to find out what help is available through the Household Support Fund, which had a £842m extension this year.

‘Cushioned from high prices’

Mel Stride, Secretary of State for Work and Pensions, said: “The best way we can boost bank balances is by bearing down on inflation, but as we get there, we are ensuring the most vulnerable households are cushioned from high prices with a further Cost of Living payment.”

Jeremy Hunt, Chancellor of the Exchequer, added: “Halving inflation and getting price rises under control is the best way to support households struggling with their bills.

“But it is also right that we are helping the most vulnerable in our society, and this latest Cost of Living payment is part of a package of support worth £3,300 per household on average over this year and last to help those struggling the most.”