When is the Next Cost of Living Payment? Cost of Living Schedule for 2024

Check out the details about When is the Next Cost of Living Payment? Cost of Living Schedule for 2024 from this article. Various information about When is the Next Cost of Living Payment? Cost of Living Schedule for 2024 and other relevant details are included in this article.

When is the Next Cost of Living Payment?

The cost of living payment was recently made between November 10 and November 19 for most people. The next cost of living payment will be issued by Spring 2024. The amount of the next cost of living payment will be £299.

In order to qualify for the next cost of living payments, the citizens must be recipients of certain tax credits or benefits. The exact date on which the next cost of living payment will be issued will be provided by the UK government in due course.

Important Links

  1. Cost of Living Payment
  2. UK Child Benefit Payments
  3. Utilita Guest Payment
  4. Hardship Payment Credit
  5. UK Housing Benefit

Cost of Living Payment Overview

Name Cost of Living Payment
Administering Body Department for Work and Pensions
Country UK
Payment Type Non-Taxable
Amount £900 (£301, £300 and £299)
Next Payment Date By spring 2024
Next Payment Amount £299
For more information www.gov.uk

What is the Cost of Living Payment?

The cost of living payments in the UK is administered by the Department for Work and Pensions. These payments rate additional payments that are provided to the recipients of certain benefits and tax credits.

When is the Next Cost of Living Payment

If a person is qualified to receive the cost of living payment, they don’t need to do anything to get the payment, as they will automatically receive the payment.

The Cost of Living Payments are non-taxable payments made by the government. This means that these payments will not affect the benefits that people are currently receiving.

The complete information on this benefit, eligibility requirements, payment dates, amount, frequency, and other relevant aspects can be learned by visiting the authorized web portal of the UK Government.

Who is Eligible to Receive Cost of Living Payment?

People should be receiving certain tax credits and benefits on specific dates to qualify for the Cost of Living Payments. People can get a maximum of 5 cost of living payments from the government if they satisfy all the prerequisites.

Individuals receiving any of these benefits and tax credits might receive a maximum of 3 payments –

  • JSA (income-based)
  • ESA (income-based)
  • Universal Credit
  • Working Tax Credit
  • Pension Credit
  • Income Support
  • Child Tax Credit

Please note that the cost of living payments will be made separately from the qualifying benefits that people are already receiving. Unlike other additional benefits, these payments will not be included in these benefit and tax credit payments.

To receive £300 payment –

  • Income Support/Income-based ESA/Pension Credit/Income-based JSA: If a person is entitled to get any of these payments between August 18, 2024, and September 17, 2024, they will receive a £300 payment.
  • Universal Credit: If an individual is entitled to receive this credit between August 18, 2024, and September 17, 2024, they will receive a £300 payment.
  • Tax credits: If a person receives or later receives tax credits for any day between August 18, 2024, and September 17, 2024, they will receive a £300 payment.

To receive £301 payment –

  • Income Support/Income-based ESA/Pension Credit/Income-based JSA: If a person is entitled to get any of these payments between January 26, 2024, and February 25, 2024, they will receive a £301 payment.
  • Universal Credit: If an individual is entitled to receive this credit for an assessment period that ended between January 26, 2024, and February 25, 2024, they will receive a £301 payment.
  • Tax credits: If a person receives or later receives tax credits for any day between January 26, 2024, and February 25, 2024, they will receive a £301 payment.

The information on the next cost of living payments of £299 will be provided soon by the government. The next payment is due in Spring 2024.

Cost of Living Schedule for 2024

The schedule of the Cost of Living Payments for 2024 will be provided once the payments of the prior year are completed. The schedule for 2024/2024 is as follows –

  • The first payment of £301 was made between April 25 and May 17, 2024.
  • A Disability payment of £150 was made between June 20 and July 4, 2024.
  • The second payment of £300 was made between October 31 and November 19, 2024.
  • The £300 payment for tax credits and no other low-income benefit was made between November 10 and November 19, 2024.
  • An additional Winter Fuel Payment of £300 is yet to be made.
  • The third £299 payment will be made by Spring 2024.

Important Links

  1. UK Widow Pension 2024
  2. UK Child Tax Credit
  3. Scottish Child Payment
  4. Bereavement Support Payment
  5. Cold Weather Payment

Cost of Living Payment Schedule

If a person is receiving both the Working Tax Credit and Child Tax Credit, they will get the Cost of Living payment only for the Child Tax Credit. If a person receives a payment that they were not entitled to get, they might have to repay the received amount.

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