October is shaping up to be a significant month for your finances, with various key dates to mark on your calendar. Energy bills are set to increase at the beginning of the month; however, a scheme offering a £150 discount on electricity costs will also reopen, providing relief for those facing financial challenges.
For those needing to apply for the Winter Fuel Payment, the phone line will reopen in October. Additionally, self-employed individuals should take note of the approaching self-assessment tax registration deadline.
The Ofgem energy price cap will see an increase from £1,720 to £1,755 annually on October 1, affecting typical dual fuel households paying via direct debit. This adjustment will remain in effect until December 31, with the cap subject to periodic updates.
Individuals new to filing self-assessment tax returns must register with HMRC by October 5 for the upcoming tax year. Eligibility for Winter Fuel Payments, worth up to £300, varies, with most recipients automatically receiving the benefit, while others may need to submit a claim.
The deadline to contribute to the Tesco Christmas Saver scheme is October 16, allowing participants to accumulate Clubcard points throughout the year for holiday shopping. Inflation data from the Office for National Statistics will be released on October 2, offering insights into price fluctuations.
Filing a self-assessment tax return by post must be done by October 31 to avoid penalties. Late submissions incur a £100 fine, with additional penalties for further delays. Those entitled to the Warm Home Discount can anticipate a notification letter by October 20, with eligibility criteria including certain benefit recipients.
The Warm Home Discount provides £150 off electricity bills, directly credited to the energy provider. Stay informed about these financial matters to manage your expenses effectively.