The DWP has announced the first cost of living payment will be exactly £326 and will end up in applicants’ bank accounts sometime between July 14 and 31 – unless you have tax credits
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Millions of Britons on benefits will receive their £326 of living expenses from July 14, according to plans confirmed by the government on Wednesday.
Work and Pensions Secretary Therese Coffey will provide further details of a support package unveiled by the Chancellor last month.
She will confirm the date of the first payment to individuals on Universal Credit, earnings-related ESA and JSA, Income Support, and Retirement Credit.
It will arrive in beneficiaries’ bank accounts directly from the Department for Work and Pensions (DWP) between 14 July and 31 July.
There is no exact date on when the payments will arrive within this period, but they will be separate from the usual day for benefit payments.
Those with Working Tax Credit and Child Tax Credit will have to wait until later in the summer as these payments are processed by HMRC.
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A total of 8.3 million UK beneficiaries will receive the payments, along with a second installment of £324 later in the autumn.
Eligible beneficiaries must consume these benefits no later than May 25, 2022 to be eligible for the first of the two payments.
The deadline for the second period has not yet been confirmed. Payments are slightly different to reduce the risk of fraud.
The £650 is tax-free, does not count towards the benefit cap and has no impact on existing incentive awards.
It was part of a series of other measures unveiled by Rishi Sunak after months of pressure over rising energy bills.
The Chancellor also announced that she would deduct £400 from energy bills for all households from July and October respectively.
The hated £200 buy now, pay later rebate on energy bills in October has been scrapped after an outcry.
But he faced criticism after admitting people with second homes – including himself – would get the £400 twice over. He gives his discount to charity.
There is also £300 for pensioners in November and December and £150 for disabled people in September.
About £10bn of the £15bn will be funded by borrowing, although the Chancellor has repeatedly said he cannot bail out of the crisis.
And Treasury Department insiders have not ruled out that the disclosure will exacerbate inflation.
Mr Sunak said: “I said we would stand by people when they need help and we do.”
https://www.mirror.co.uk/news/politics/dwp-confirms-exact-dates-amount-27234525 DWP confirms exact dates and levels of living expenses for millions of Britons