06 February 2024 , 09:10
858
0
Millions of people will start to see the final cost of living payment worth £299 land in their bank accounts from today.
But the payment is being staggered - meaning not everyone will receive it at the same time. If you claim benefits from the Department for Work and Pensions (DWP) then you should receive the money by February 22.
If you claim Tax Credits only from HMRC, the payment won’t be sent out until at least February 16 - but again, you should be paid by February 22 at the latest. If you don’t receive the money by this date, but you believe you’re entitled to the payment, you’ll be able to fill in a form on GOV.UK from February 23.
However, there are some legitimate reasons why you may still get the payment beyond this date - for example, if you start claiming benefits and your claim gets backdated. You can backdate Pension Credit by three months and the deadline to do this, and be entitled to the £299 cost of living payment, is by March 5. The full list of benefits that make you entitled to the £299 payment are:
- Universal Credit
- Income-based Jobseeker's Allowance
- Income-related Employment and Support Allowance
- Income Support
- Working Tax Credit
- Child Tax Credit
- Pension Credit
You need to have been claiming one of these benefits between November 13 and December 12 last year, in order to receive the £299. If you claim Universal Credit, you must have been eligible for a payment for an assessment period ending between these dates.
Six teachers open up on 'difficult' strike decision - and why they are doing it
But you should note there are some examples where you may not be eligible for the money, even if you're claiming one of the correct benefits during this timeframe. For example, if your Universal Credit is reduced to £0 in the eligibility timeframe, then you won't be entitled to the £299. You also won't be eligible if you claim Tax Credits and your entitlement for the tax year is below £26.
Those who are eligible should see the money automatically paid into their bank account - meaning you won't need to apply for it. The payment will show in your bank account as your National Insurance Number followed by DWP COL. The HMRC payment reference will be HMRC COLS.