As the cost of living crisis continues to make life tough for many people, help is on its way in the form of cost of living payments.
Chancellor Rishi Sunak announced eight million of the lowest paid households will be receiving an extra £650 to help pay for soaring energy bills.
It will also be paid to people on Income-based Jobseeker’s Allowance, Income-related Employment and Support Allowance, Income Support, Working Tax Credit and Child Tax Credit.
Eligible people on tax credits can expect the first payment of £326 from autumn 2022, and the second payment of £324 from winter 2022.
Who is eligible for the £650 Cost of Living payment?
To get the first instalment of £326, people must have been entitled to a payment (or later found to be entitled to a payment) of either:
- Universal Credit for an assessment period that ended in the period April 26 2022 to May 25 2022
- Income-based JSA, income-related ESA, Income Support or Pension Credit for any day in the period April 26, 2022 to May 25, 2022.To get the first Cost of Living Payment of £326, Working Tax Credit or Child Tax Credit recipients must have received a payment, or an annual award of at least £26, of tax credits on any day in the period April 26, 2022 to May 25, 2022.