HMRC

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The first cost of living payments of 2023 are set to be made next week - here’s everything you need to know about the £301 cash boost and future payments.

Sophie Wills

Millions of UK households will receive a £301 payment from the Department for Work and Pensions (DWP) between 25 April and 17 May. It is the first of three payments, totalling up to £900, for those eligible and on means-tested benefits, such as universal credit or pension credit, in 2023/24. There will also be further payments worth £150 for eligible people with disabilities and £300 for pensioners due later this year, meaning some people will receive up to £1,350 in direct payments.

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If you invest any or all of the award in any type of investment that generates an income this potentially may reduce the award of Tax Credits.

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