October will bring significant financial events affecting your wallet. The Mirror has compiled a list of important dates to mark on your calendar.
Energy bills are increasing at the beginning of the month; however, a program offering a £150 reduction on electricity costs will reopen, providing relief for those facing financial challenges.
For individuals needing to apply for the Winter Fuel Payment, the phone line will reopen, although most recipients will receive it automatically. October also marks the deadline for self-employed individuals to register for self-assessment tax.
Another key date in October is the deadline for filing self-assessment tax returns by post. It is crucial to meet this deadline to avoid penalties.
The Ofgem energy price cap will rise from £1,720 to £1,755 per year on October 1, impacting the typical dual fuel household costs. This cap will remain in effect until December 31.
If you are new to submitting self-assessment tax returns, registration with HMRC is required by October 5 for the 2024/25 tax year. You can check your tax return status on GOV.UK to determine if you need to file.
Winter Fuel Payments, worth up to £300, will be automatically distributed to eligible individuals, but some may need to apply. The deadline to apply by phone is October 13.
Additionally, the Tesco Christmas Saver scheme allows participants to save Clubcard points throughout the year to use during the holiday season. Bonuses are offered based on savings amounts, ranging from £1.50 to £12.
The Office for National Statistics will release the latest inflation data on October 2, tracking price changes over time. It was reported that inflation remained steady at 3.8% in August.
For those submitting self-assessment tax returns by post, the deadline is October 31. Late filings will result in penalties, starting at £100 and escalating for further delays.
If eligible for the Warm Home Discount providing £150 off electricity bills, recipients will receive notification by post starting October 20. This benefit is allocated directly to energy providers.
Stay informed about these important financial dates to manage your finances effectively.
