Millions of people are expected to get £326 into their bank accounts next week as the government aims to tackle soaring costs of living. Households on the lowest incomes will begin receiving the first instalment of a £650 cost of living package from July 14 with the UK government aiming to make all payments by the end of the month.
Universal credit claimants will need to have been receiving the benefit, or have started a claim which is later successful, by Wednesday, May 25, this year in order to qualify for the payments. No exact date has been given for when people can expect the second instalment, worth £324, but it is expected to come in the autumn.
Read more: Cost of living payment: The people who will and won’t receive £326 from July 14
However, if you are on a low income and have yet to make a claim for universal credit, it might still be possible to receive the second instalment. This is because the government has not announced the qualifying dates to get the second payment of £324 yet.
Therefore, anyone who is on a low income or is intending to make a universal credit claim is being advised to do so as soon as possible, as you may qualify for the second instalment if you apply quickly. Currently, you might still be able to receive the second instalment later this year if your claim is successful, even if your eligibility for universal credit is not confirmed until a later date. This is similar to the circumstances for the first payment.
According to the UK government website, it says: "To get the first cost of living payment of £326, you must have received a payment, or an annual award of at least £26, of tax credits for any day in the period April 26, 2022 to 25 May 25, 2022.
"We will update this guidance when the government has announced the qualifying dates to get the second payment of £324."
The UK Government said: “HMRC and DWP are due to release further guidance and the UK Government will set out the eligibility date for the second instalment, in due course.”
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