DWP and HMRC payments worth up to £617 being paid out in May

The exact dates Department for Work and Pensions and HMRC payments worth up to £617 will be paid in May have been revealed. The DWP and HMRC has shaken up its payment dates during the fifth month of the year as the Cost of Living crisis continues.

The first May bank holiday falls on Monday, May 6, so benefits due to be paid on this day are typically affected. These benefits are paid on the previous working day, so claimants can expect to receive their payments on Friday, May 3 instead.

Andy Wood, a tax expert at Tax Degens said: "As the May bank holiday approaches, it's vital for recipients of benefits such as Attendance Allowance, Carer’s Allowance, and Employment Support Allowance to be aware of changes to their payment schedules.

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"These payments will be made earlier than usual, specifically moved to May 3 instead of May 6. This shift is important to manage effectively, as it can affect financial planning and budgeting." The bank holiday adjustment impacts various benefits including Jobseeker’s Allowance, Pension Credit, Personal Independence Payment, and the state pension, all typically paid every four weeks.”

In another message to UK households, he added: "Those receiving Universal Credit, Working Tax Credit, Child Tax Credit, and Child Benefit must also be aware of these changes. While Universal Credit is paid monthly, and Tax Credits and Child Benefit may be paid weekly or every four weeks, the early payment in May due to the bank holiday could significantly affect your financial rhythm.

“Checking these dates early allows for better financial preparedness and avoids potential issues like overdraft fees or missed payments." He also went on and said: “This proactive approach not only helps in planning important expenditures but also helps ensure that all financial commitments are met smoothly during the month."