HMRC has confirmed when one million Tax Credit claimants will start to receive the £301 cost of living payment.
The first instalment will be paid automatically into most bank accounts between May 2 and May 9.
This payment is the first of three cost of living payments totalling up to £900 overall.
The dates for this payment are for those who claim Tax Credits from HMRC and no other Department for Work and Pensions (DWP) benefits.
For those claiming any means-tested DWP benefits, the first payment will be paid a little earlier between April 25 and May 17.
If you are claiming Child Tax Credit or Working Tax Credit, then you need to have been eligible for payments, or later found eligible, during the "qualifying week".
The "qualifying week" is from January 26 to February 25 2023.
If eligible, the payment will show as "HMRC COLS" in your bank and building society accounts.
It will be the same account where you normally receive your Tax Credit payments.
If you are eligible, then you won't need to apply for the money - you will receive the cost of living payment automatically.
Angela MacDonald, HMRC’s deputy chief executive and second permanent secretary, said: "The £301 cost of living Payment will deliver vital financial help to eligible tax credit customers across the UK. Further support will be paid in autumn 2023 and spring 2024 to those entitled to payment.
"HMRC will pay eligible tax credit customers automatically and with no action required from the customer, to make this as simple and helpful as it can possibly be."
After the first £301 cost of living payment, two more will follow later this year and in the spring of 2024.
These payments will be for £299 and £300.
The dates for these payments and the qualifying periods for them for both DWP claimants and Tax Credit claimants have not yet been announced.
All the cost of living payments will be tax-free, do not count towards the benefit cap, and will not have any impact on existing benefit awards.
