October is shaping up to be a significant month for your finances, with key dates to mark on your calendar. Energy bills will increase at the beginning of the month, but there’s good news as a program offering a £150 discount on electricity costs will reopen. Keep an eye out for this opportunity, especially if you’re facing financial challenges.
For those who need to apply, the Winter Fuel Payment phone line will reopen, although most recipients will receive it automatically. Self-employed individuals should note that the deadline for the self-assessment tax register is approaching in October.
If you prefer to file your self-assessment tax return by post, there is a deadline to meet. Make sure you are aware of all the necessary details for a smooth process.
Additionally, the Ofgem energy price cap will increase from £1,720 to £1,755 annually as of October 1. This cap regulates the maximum charges for gas and electricity units, along with fixed daily standing charges.
If you are new to submitting a self-assessment tax return, ensure you register with HMRC by October 5 for the upcoming tax year. It’s important to check if you are required to complete a tax return, especially if you are self-employed or have additional untaxed income.
The Winter Fuel Payments, which can reach up to £300, will be automatically distributed to eligible individuals, but some may need to apply. The application period for certain cases begins on October 13.
Don’t forget that the deadline to contribute to the Tesco Christmas Saver scheme is October 16. This initiative allows you to save Clubcard points throughout the year for holiday shopping purposes, with additional bonuses offered based on your savings amount.
Stay informed about the latest inflation data release by the Office for National Statistics on October 2, which measures price changes over time. Remember that the deadline for filing your self-assessment tax return by post is October 31, with penalties for late submissions.
Lastly, if you qualify for the Warm Home Discount providing a £150 reduction on electricity bills, expect a notification letter by October 20. This discount benefits households receiving certain benefits, and the amount is directly credited to your energy provider.
