Announcement – Cost of living payment for tax credit claimants
From today, 16 February 2024, HMRC is making cost of living payments to eligible tax credit claimants. The payments will be made between 16 and 22 February 2024.
A cost of living payment of £299 is being made to eligible tax credit claimants to help with everyday costs. This is the third of three payments totalling up to £900. You can check if you are eligible for a cost of living payment on GOV.UK.
This payment is for those who meet the conditions and receive tax credits only - with no other qualifying benefits. If you receive a Department for Work and Pensions (DWP) benefit and qualify for a cost of living payment, £299 should have been paid to you by DWP between 6 and 22 February 2024.
HMRC say the payments are tax-free and will not count towards the benefit cap or have any impact on existing benefit awards.
The payment from HMRC will appear on your bank statement as ‘HMRC COLS’. If you have not received the payment between 16 and 22 February 2024 and think you meet the eligibility conditions you should contact HMRC from 23 February onwards.
HMRC are urging people to be aware of scams targeting cost of living payments. If someone contacts you about this payment saying they are from HMRC or DWP, it might be a scam. Check GOV.UK to see if contact from HMRC is genuine.
