MILLIONS of households will get free £300 cash from today – and they should look out for a specific code.
Households on defined benefits from 31 October will receive a second cost of living payment directly into their bank accounts.
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Millions of households will receive a free £300 in cash from today
The money is being distributed from today until November 19.
Those who are in line for a tax-free payment do not need to do anything as the payment is made automatically.
But they should look out for a specific code that will tell them it’s a living expenses payment.
Anyone who receives a payment from the DWP will see “DWP COL” displayed on their statement, preceded by their National Insurance number.
Meanwhile, anyone receiving a salary from HMRC will see “HMRC COLS” instead.
For example, if your NI number is JT 83 42 97B, your payment will show as “JT 83 42 97B DWP COL” or “JT 83 42 97B HMRC COLS”.
The full list of benefits that qualify people for payment is:
Those who only do Tax Credit or Child Tax Credit will receive a payment from HMRC. All others will be paid by the DWP.
Crucially, you will need to receive one of the above benefits between 18 August and 17 September to be eligible for the £300 payment.
If you are later found to be entitled to any of the above benefits between the same dates, don’t worry, you will still be eligible.
Households with only tax relief will receive a payment from HMRC between 10 and 19 November.
This is to ensure that those receiving other qualifying benefits on top of tax relief do not get paid twice.
The £300 payment is the second of three installments issued by the Government.
The first, worth £301, was paid out to more than eight million households in April and May.
The third, worth £299, will land in the bank accounts of eligible people in spring 2024, although the exact date is yet to be confirmed.
It follows the first payment of £650 to more than eight million people last year.
What other help is available?
If you’re not ready to receive your second installment of living expenses in cash, don’t worry because there’s more help available.
A separate living expenses payment for pensioners of £300 will follow from November, but the exact date is yet to be announced.
If you are eligible for the Winter Fuel Payment (WFP) for the winter of 2023 to 2024, you will receive additional cash paid with your normal WFP money.
WFP is worth up to £300 on its own, so if you’re eligible, you could be in for a total of £600.
In addition, a £150 warm home discount applies from 16 October.
Households can get £150 off their electricity bill for the winter of 2023 to 2024 through the Warm Home discount scheme.
The money isn’t paid to you, it’s a one-off discount applied to your electricity bill between now and March each year.
Struggling households across the country can get £25 a week in support when temperatures drop.
Those eligible for the Cold Weather Payment receive £25 for every seven days of unseasonably cold weather between 1 November and 31 March.
Those on universal credit and other benefits could be eligible for an extra boost as Christmas fast approaches.
The Department for Work and Pensions usually pays out in the first full week of December, and this year households are expected to receive £10.
The best part is that you don’t have to do anything – if you’re eligible, you’ll be paid into the account where you normally receive your benefits.
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Categories: Optical Illusion
Source: HIS Education