Low-income households are set to receive a second £300 cost of living payment from today.

The payment will be made to people who get certain benefits, including universal credit, and will be paid directly into their bank accounts.

More than 8 million households across the UK will receive the second cost of living support payment after the first in the spring.

It is due to arrive in bank acounts between 31 October and 19 November.

If you are eligible, the payment will be sent out automatically and the same way you receive your existing benefits – so you do not need to apply or do anything to receive it.

The payments are tax-free, do not contribute towards the benefit cap, and do not impact on existing benefits.

A further payment is due to be made next spring, bringing the total to £900.

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As the payments were rolled out, Rishi Sunak said: “I know that winter can be a particularly challenging period for many families across the country.

“That’s why we have put in place a package of immediate support for vulnerable households over the coming months.”

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Who is eligible?

Those who are entitled to receive the payment are those on:

• Universal credit
• Pension credit
• Income-based jobseeker’s allowance
• Income-related employment and support allowance
• Income support
• Working tax credit
• Child tax credit

Most people will be paid through the Department for Work and Pensions (DWP) but those eligible solely through tax credits will be paid by HM Revenue and Customs (HMRC) instead.

HMRC will publish specific details of when payments will be made to these people.

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