Starting today, February 16, 2024, around 700,000 families across the UK who receive tax credits and no other qualifying benefits will begin receiving their £299 Cost of Living Payment. This payment aims to provide financial support to these households to help with everyday costs amid rising living expenses.
HM Revenue and Customs (HMRC) is overseeing the distribution of these payments to eligible tax credit customers between February 16 and February 22, 2024. This payment is the third of three instalments totalling up to £900 for those eligible and on means-tested benefits such as Universal Credit, Pension Credit, or tax credits in the 2023 to 2024 tax year. It is part of the government’s £104 billion cost of living support package.
