New £326 cost of living payment update for people on Tax Credits due money this week
06.09.2022 - 23:45
/ dailyrecord.co.uk
HM Revenue and Customs (HMRC) started issuing the first part of the £650 means-tested cost of living payment to more than one million people on Tax Credits on September 2 and expects most of the lump sums to have been made by Wednesday, September 7. The payments of £326 are being made automatically to eligible Tax Credits-only customers, so there’s no need to apply for the extra financial support.
This round of payments are only for people claiming Working Tax Credits or Child Tax Credits. Tax Credit claimants who also receive means-tested benefits from the Department for Work and Pensions (DWP) should have already received their first cost of living payment for £326 from July 2022.
However, HMRC has issued new advice to people who believe they are eligible for the payment, but do not receive it by September 7. Claimants are being advised to wait until Friday, September 16 before contacting HMRC in order to allow time for their bank, building society or credit union to process the payment.
HMRC said: “We won’t be able to provide customers with any further information before this date.”
The department previously warned that there may be a delay in payments for some people who have recently closed the bank account their Tax Credits are usually paid into and have not informed HMRC of the change - the money may be paid into the old bank account, meaning the payment will be rejected.
If this is the case, HMRC will follow this up by letter to let the claimant know that they need to contact them with their updated bank details.
To qualify for the Tax Credits-only £326 Cost of Living Payment due to land in bank accounts by September 7, claimants must have been entitled, or later found to be entitled, to a payment, or an annual
The website popstar.one is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can
send a complaint on the news if you find it unreliable.