One million families claiming tax credits to receive Cost of Living Payment from 2 May

HMRC announces date for the first Cost of Living payment during the 2023 to 2024 tax year, for tax-credits only customers.

One million eligible claimant families receiving tax credits, and no other means-tested benefits, will get the first Cost of Living Payment for the 2023 to 2024 tax year from Tuesday 2 May 2023, HM Revenue and Customs (HMRC) has confirmed.

The £301 government payment will be paid automatically into most customers’ bank accounts between Tuesday 2 and Tuesday 9 May 2023 across the United Kingdom. Only eligible families who receive tax credits and no other means-tested benefits will receive the payment from HMRC.

This is the first of three payments totalling up to £900 for those eligible in the 2023 to 2024 tax year.

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