When Is The Next Cost Of Living Payment? | What's On In North West London

It has been brought to our attention that with over 8 million UK households on specific benefits and Tax Credits, they will start to see their £300 cost of living payments that came through on the 31st of October 2023.

When will you be paid the £300 cost of living payment?

Wondering when is the next cost of living payment. What’s On North West London has got you covered. We will keep your mind at ease with our simple yet informational breakdown. The £900 grant will be paid to you in installments. You DO NOT need to apply for this. So please do not worry. This makes it easier for the Government to track whether you have received the right payment on time. Keeping everything simple is always the best way forward during challenging times.

If you are still wondering, are the payments tax-free? Yes, that is correct. All scheduled payments are free and do not count toward the benefits cap. Nor, will there be any impact on any current existing benefits you have. The next three costs of living installments are as follows:

1st Instalment: was paid from April 25th £301
2nd Instalment: is now underway £300
3rd Instalment: due by spring of 2024 £299

Look over exactly what the next cost of living payment will include

Benefits

When you should get your second £300 payment

Only child tax credit or working Tax credit. (This is without any other additional benefits included).

Between 10th November and 19th November 2023.

● Income support pension

● Pension credit

● Universal credit

● Income based on job seekers’ allowance

● Income-related employment allowance

Between 31st October and 19th November 2023.

The Key Dates To Get The New Payment

To help you understand a bit more how to get the £300 new cost of living payment, as highlighted above you must first be eligible for one. This includes at least one of the benefits above. However, the eligibility period must fall between 18th August 2023 and 17th September 2023 to receive your allowances.

To break this further you may still need to qualify for this payment even though you did not receive the £650 cost of living payment last year. It should be noted that there have been instances where some people on Universal Credit have missed the window of eligibility because of their assessment period or payment frequency. We strongly advise that you understand the notice periods to avoid this yourselves.

Those Who Are On Low-Income Benefits, such as Universal Credit

Do not worry if you are someone or know someone who is on low-income benefits, such as Universal Credit as you may also be entitled to the following:

Working tax credit
Income support
Pension credit
Working tax credit
Universal Credit- only if your Universal Credit was reduced to £0 for the entire period between 18 August 2023 and 17 September 2023. Rest assured sometimes your Universal Credit will remain at ‘0’ due to your partner’s earnings or savings increases, you pay being getting another benefit that reduces your eligibility.

The Third and Final Cost of Living Payment Outline, plus support for pensioners

To conclude there are three different cost-of-living payment types available: low-income, pensioners and one for those who are on disability benefits. All three have been announced for 2023/2024. Some UK households may also receive cost of living payments of £1,350 in total.

If you’re on low-income benefits, you’ll get up to £900 – paid from April 2023. (Please see the image above of the UK government cost of living eligibility to see the simple breakdown of all payments).
Remember if you are above the state pension age, you will get £300 – payment over winter 2023/24. Additionally, if you’re entitled to winter fuel payment, and are above state pension age (aged 66 and over), you’ll get a top-up of £300 in winter 2023/24. Keep yourself warm this winter.
If you claim certain disability benefits, you should have received £150 – paid from 20 June 2023.

To get the £150, all you will need is one of the below to be paid to you