- Over 8 million families to receive £301 from the Government with payments striking savings account from today
- Those eligible will be paid in between Tuesday 25 April and Wednesday 17 May, with HMRC paying to tax credit-only consumers in between Tuesday 2 and Tuesday 9 May
Over 8 million families throughout the UK will receive a £301 Cost of Living Payment from the Government, with payments presented from today, showing the Government’s unrelenting concentrate on our 5 top priorities – consisting of cutting in half inflation, growing the economy and decreasing financial obligation.
As the cost of living continues to impact households throughout the UK, these payments are created to target assistance towards the most susceptible in society and supply them with a monetary increase.
The Department for Work and Pensions (DWP) will send out payments immediately and straight to receivers’ savings account, with a referral of their National Insurance number followed by ‘DWP COL’.
This is the very first of approximately 3 payments for those qualified on means-tested advantages, consisting of Universal Credit, Pension Credit and tax credits, amounting to £900 through 2023/24. These will be accompanied by a £150 payment for individuals on qualified special needs advantages this summer season, and a £300 payment on top of Winter Fuel Payments for pensioners at the end of 2023.
This constructs on the considerable cost of living assistance already offered to qualified families throughout 2022 – now worth approximately £3,300 per household over this year and last.
Those entitled do not require to do make an application for the payment or do anything to receive it. Payments made throughout this window will be staggered over the next number of weeks implying not everybody entitled to receive a payment will receive it today.
Mel Stride, Secretary of State for Work and Pensions, said:
This latest extra payment will be invited by countless households – as will even more payments due over the next year.
We have actually continuously supported those most susceptible to increasing expenses, consisting of through record advantages and nationwide living wage increases along with these remarkable Cost of Living Payments reacting to the worldwide pressures we are dealing with.
We will likewise continue to provide on our 5 top priorities, consisting of cutting in half inflation, as this will relieve pressure on families presently dealing with household expenses and increasing rates.
Jeremy Hunt, Chancellor of the Exchequer, included:
The finest thing we can do to help individuals’s money go even more is provide on our top priorities to cut in half inflation and grow the economy.
But we’re likewise here to help individuals through these bumpy rides, which is why we’re holding down energy expenses, freezing fuel task, increasing Universal Credit, and providing £900 payments to low earnings and susceptible households – all in part moneyed through windfall taxes on energy revenues.
People will be qualified for the Cost of Living Payment if they have actually been entitled to a payment for among 7 advantages in between 26 January and 25 February 2023. The qualified advantages are:
- Universal Credit;
- Pension Credit;
- Income-based Jobseekers Allowance;
- Income-associated Employment and Support Allowance;
- Income Support;
- Working Tax Credit;
- Child Tax Credit.
Once most of those who are entitled to a payment by DWP have actually been paid, HM Revenue and Customs (HMRC) will pay of £301 in between Tuesday 2 and Tuesday 9 May to one million qualified households getting tax credits just, with the banking recommendation ‘HMRC COLS’.
The latest payment follows on from the £650 Cost of Living Payment provided by the Government in 2022, in addition to another £150 special needs payment and a £300 pensioner payment.
While payments are made immediately, individuals should be getting among the qualified certifying advantages throughout the specific duration to certify. Those who want to examine their privilege to advantages ought to utilize an advantages calculator on Gov.uk to get a much better concept of what they might receive.
Low-earnings pensioners especially ought to examine their eligibility for Pension Credit, as they might still have the ability to receive the £301 Cost of Living Payment, and subsequent payments, if they make an effective backdated application by 19 May 2023.
Those in requirement are likewise motivated to call their regional council to see if any extra assistance is available in their city, such as through the DWP’s Household Support Fund in England, worth over £2 billion throughout its life time.
Further Information
- These payments will all be tax-free, will not count towards the advantage cap, and will not have any effect on existing advantage awards.
- The 3 means-tested Cost of Living Payments, worth approximately £900 in overall, will be provided in 3 a little various quantities, each associating with a particular certifying duration prior to the payment is made. This permits DWP and HMRC to make sure assistance is targeted at those who require it and are qualified; to identify if a payee received the proper payments and determine the payment worth; and to decrease the danger of scams.
- To get the £301 payment somebody should (based on a really minimal exception explained listed below) have actually been entitled to a payment of a certifying advantage as follows:
- For Universal Credit, payment in regard of an evaluation duration ending in between the 26 January 2023 to the 25 February 2023
- For all other DWP means-tested advantages, payment in regard of any day in between 26 January and 25 February 2023.
- For tax credit-only consumers to be qualified they should have received a payment of tax credits in regard of any day in the duration 26 January 2023 to 25 February 2023, or later on be discovered to have actually been entitled to a payment for this duration.
- Those on DWP advantages aside from Universal Credit who are entitled to less than 10 cent and satisfy all other certifying requirements however who do not receive an advantage payment, will still receive a Cost of Living Payment.
- More than 6 million individuals on certifying special needs advantages will receive a Disability Cost of Living Payment of £150 throughout Summer 2023. This consists of those in invoice of among the following advantages:
- Disability Living Allowance;
- Personal Independence Payment;
- Attendance Allowance;
- Scottish Disability Benefits;
- Armed Forces Independence Payment;
- Constant Attendance Allowance;
- War Pension Mobility Supplement.
- The £300 Pensioner Cost of Living Payment will be paid to all families in invoice of Winter Fuel Payments, in the very same method as 2022/23 payments were made.
- Payment windows and eligibility dates for the staying Cost of Living Payments will be revealed in due course.
- For more details on these payments, please check out www.gov.uk/guidance/cost-of-living-payments-2023-to-2024
- For constituency and regional authority level breakdowns on payments, please check out www.gov.uk/government/news/first-2023-24-cost-of-living-payment-dates-announced
Table 1: Estimated variety of families qualified for the means-tested advantage Cost of Living Payment by area
| Region | Households (Thousands) | Proportion of all payments |
| London | 1,187 | 15% |
| South West | 567 | 7% |
| South East | 830 | 10% |
| Eastern | 615 | 8% |
| West Midlands | 783 | 10% |
| East Midlands | 545 | 7% |
| North West | 1,033 | 13% |
| North East | 395 | 5% |
| Yorkshire and The Humber | 713 | 9% |
| Wales | 422 | 5% |
| Scotland | 686 | 8% |
| Northern Ireland | 321 | 4% |
| Total | 8,097 | 100% |
Table 2: Estimated variety of people qualified for the special needs Cost of Living Payment by area
| Region | Households (Thousands) | Proportion of all payments |
| London | 653 | 10% |
| South West | 524 | 8% |
| South East | 733 | 11% |
| Eastern | 535 | 8% |
| West Midlands | 606 | 9% |
| East Midlands | 484 | 7% |
| North West | 878 | 13% |
| North East | 349 | 5% |
| Yorkshire and The Humber | 574 | 9% |
| Wales | 433 | 6% |
| Scotland | 639 | 9% |
| Northern Ireland | 340 | 5% |
| Total | 6,748 | 100% |
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