This is when millions of people will get a £300 cost of living payment

Millions of households across the UK will soon receive a £300 cost of living support payment.

The cash, directly from the Department for Work and Pensions (DWP), will be the second of three payments adding up to £900 during this financial year.

Households who are eligible and receiving means-tested benefits, like Universal Credit, Pension Credit or tax credits, will receive the payment between October 31 and November 19.

People who are only claiming tax credits and don’t qualify for a payment from the DWP will receive £300 from HMRC between November 10 and 19.

Payments are tax-free, will not count towards the benefit cap and will not have any impact on existing benefit awards, the government said.

Eligible pensioners will also get a further £300 payment later this year in addition to the winter fuel payment.

The £300 cost of living payment will be sent out automatically and directly to recipients, meaning those eligible do not need to apply, contact the government or do anything to receive it.

This includes tax credits-only customers, who will receive the payment from HMRC.

Work and Pensions Secretary Mel Stride said: ‘The best way we can boost bank balances is by bearing down on inflation, but, as we get there, we are ensuring the most vulnerable households are cushioned from high prices with a further cost of living payment.’

Do you think the £300 cost of living payment is enough to support struggling households?Comment Now

Chancellor Jeremy Hunt said: ‘Halving inflation and getting price rises under control is the best way to support households struggling with their bills.

‘But it is also right that we are helping the most vulnerable in our society, and this latest cost of living payment is part of a package of support worth £3,300 per household on average over this year and last to help those struggling the most.’

The DWP will pay more than seven million households and HMRC will follow with around 830,000 more, taking the total number of households eligible for the cost-of-living payment to around eight million.

But people are being warned to look out for scammers posing as government bodies – as the cost of living payments are being made automatically, so nothing needs to be done to receive the cash.

Get in touch with our news team by emailing us at webnews@metro.co.uk.

For more stories like this, check our news page.