Cost of living payment guide: Who is eligible and when will you receive the money? | Personal Finance | Finance

When is the cost of living payment due?

As mentioned the cost of living payment has been split into two instalments with the first lot already being distributed to some groups.

For those who claim Universal Credit, Income-related Employment Support Allowance, Income-based Jobseeker’s Allowance, Income Support and Pension Credit, the first instalment of £326 would have hit bank accounts between July 14 to July 31.

The second instalment for these groups, which amounts to £324, is due to hit bank accounts in autumn, but the exact date is yet to be announced.

Households on tax credits, however, should expect the first payment of £326 in September and the second instalment of £324 from winter 2022. The exact dates for these also haven’t been announced yet.

If you have a joint benefit claim with your partner, you will still only receive one payment of £326 and one payment of £324 for your joint claim.

Will the cost of living payment affect my benefits?

These payments are not taxable and will not affect the benefits or tax credits you already get.