Major update on £301 cost of living update from today
THE Government has issued a major update for anyone on tax credits waiting for the £301 cost of living payment.
The Department for Work and Pensions (DWP) is in the process of issuing the tax-free cash to millions on benefits.
The vast majority should have received the money by May 17.
However, HMRC issued payments for those on tax credits between May 2 and 9.
HMRC was urging anyone who hadn’t received the payment to not get in touch.
But, you can contact them from today (May 16).
In a recent Twitter post, HMRC said: “If you receive tax credits and expected the cost of living payment of £301 but cannot see it in your account – please wait until 16 May to contact HMRC, to allow time for your payment to be processed.”
If you are on tax credits, the £301 cost of living payment should have showed up in your account as “HMRC COLS”.
So if you were expecting one and don’t have that code in your statement, it’s worth getting in touch with HMRC.
You can call the department on 0345 300 3900 Monday to Friday between 8am and 6pm.
The Government’s website says phone lines are less busy from Tuesday to Thursday between 2pm and 4pm.
You can get in touch online too, by using HMRC’s digital assistant on the Government’s website, or by tweeting @HMRCgovuk.
What is the cost of living payment?
In November, the Government announced it would be offering millions of people cost of living payments collectively worth £1,350.
The payments, worth £900, £150-£300 and £150, have already started being made, and should all be processed by spring 2024.
The £900 payment has been split into three instalments worth £301, £300 and £299.
The first £301 payment is the one that is currently being issued to millions on certain benefits.
You qualify for this payment if you were receiving the following benefits between January 26 and February 25 this year:
- 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 second and third instalments are being made in autumn this year and spring 2024, respectively.
How to claim a missing payment
If you are on tax credits and haven’t yet received the £301 cost of living payment, you can get in touch with HMRC from today.
If you are on JSA, ESA, Income Support, Pension Credit and Universal Credit, payments are still being processed by the DWP.
They should all be paid by May 17.
If you’ve not received your payment after this date, you can get in touch with the DWP via the Government’s website.
However, before you do report any missing payments either to HMRC or the DWP, make sure you double-check your bank statement for the £301 payment as you might have missed it.
Do you have a money problem that needs sorting? Get in touch by emailing money-sm@news.co.uk