Cost of living payments

You may have been entitled to a Cost of Living Payments of £301 (paid April/May 2023) and should be about to receive £300 (payable early November 2023) and a further £299 due spring 2024. Payments are limited to persons claiming the following

You may have been entitled to a Cost of Living Payments of £301 (paid April/May 2023) and should be about to receive £300 (payable early November 2023) and a further £299 due spring 2024. Payments are limited to persons claiming the following benefits.

  • income-based Jobseeker’s Allowance (JSA)
  • income-related Employment and Support Allowance (ESA)
  • Income Support
  • Pension Credit
  • Universal Credit
  • Child Tax Credit
  • Working Tax Credit

The payments will be made separately from your benefit payments.

You will not get a payment if you are only receiving New Style ESA, contributory ESA, or New Style JSA.

If you have a joint claim on the qualifying dates, a single payment of £301, £300 and £299 will be sent using the same payment method used between these dates if you are eligible.

If you are getting both Child Tax Credit and Working Tax Credit, you will receive a Cost of Living Payment for Child Tax Credit only, which will be paid by HMRC.

If you are getting tax credits from HMRC and a low income benefit from the Department of Work and Pensions (DWP), you cannot receive a Cost of Living Payment from both HMRC and DWP. You will usually be paid by DWP.

Your payment might come later, for example if you’re awarded a qualifying benefit at a later date or you change the account your benefit or tax credits are paid into. You will still be paid the Cost of Living Payment automatically.

If you have received a Cost of Living Payment, but later it is found that you were not eligible for it, you may have to pay it back.

Source: Other Mon, 06 Nov 2023 00:00:00 +0100

Latest INSIGHTS

Check out our latest Insights for useful accounting tips and information.

New Companies House powers

The recently introduced Economic Crime and Transparency Act has gifted Companies House a range of new powers aimed at reducing exploitation by corporate entities to pursue illegal enterprise.

The aim of the new reforms are:

Introducing identity

Read More

Cyber protection laws introduced

New consumer protections against hacking and cyber-attacks came into force at the end of April 2024. All internet connected smart devices will be required by law to meet minimum-security standards.

Manufacturers will be legally required to protect

Read More

Tax Diary June/July 2024

1 June 2024 – Due date for corporation tax due for the year ended 31 August 2023.

19 June 2024 – PAYE and NIC deductions due for month ended 5 June 2024. (If you pay your tax electronically the due date is 22 June 2024).

19 June 2024 – Filing

Read More