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A series of nine money and rule changes for Department for Work and Pensions (DWP) claimants have been unveiled, set to impact UK households from October 2024. Among these changes is the opening of the Winter Fuel Payment phone lines.
The shake-up will affect everything from energy bills to Royal Mail stamps. Winter Fuel Payments, worth up to £300, will be received automatically by most eligible individuals, but some will need to apply. If you’re among those who need to apply, you can do so by phone from October 28.
Beyond the Winter Fuel Allowance, which is valued at £300, there are nine other changes, financial rules and laws that will affect people. Take a look below at the list of changes ahead of the shake-up.
READ MORE: Martin Lewis says Winter Fuel Payment cut could be delayed until next year
(Image: Getty)
Energy Price Cap – October 1
From October 1, the Ofgem energy price cap will rise. Energy bills will increase in October following a 10 per cent hike in the industry regulator’s cap on energy prices, reports Birmingham Live.
Under the new price cap, the average annual energy bill will climb to £1,717 for gas and electricity, an increase of £149 from the current level of £1,568, which has been in effect since July. The average price cap for standard credit households will rise by £161 to £1,829.
Warm Home Discounts – October 1
The Warm Home Discount Scheme, a UK government initiative to support the lowest earners with their energy bills, is set to kick off again this October. Eligible individuals will receive £150 towards their bills through the scheme.
New mobile roaming rules – October 1
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As for travellers and mobile users, take note: Ofcom is introducing new rules on October 1, 2024. Mobile providers will be required to notify their customers when they start roaming and provide clear, free information to help them understand the costs and manage their usage abroad.
“The last thing holidaymakers want when returning from a trip abroad is an unexpected mobile phone bill. At the moment, some customers aren’t getting clear information from their provider to help them manage their mobile use and plan their spend. Our new protections will mean you’re told what it’ll cost when you start roaming, so you can be confident that there won’t be any surprises when it comes to your mobile bill while on holiday,” said Cristina Luna-Esteban, Ofcom’s Director of Telecoms Consumer Policy.
Self-assessment register deadline – October 5
Remember, if you’re diving into self-employment or earning extra income, you need to register for self-assessment by 5 October following the end of the tax year. Say you’ve got to sort out your taxes for the period of 6 April 2023 to 5 April 2024, get yourself registered by 5 October 2024.
If you did the whole self-assessment song and dance last year, no worries you don’t need to do it again. HMRC should give you a nudge to fill in your return, but keep in mind, it’s on you to remember whether they prompt you or not.
Stamp prices increase – October 7
Get ready to dig a bit deeper into your pockets as stamp prices are set to soar from Monday 7 October. Royal Mail is hiking the price of a standard first-class stamp by a hefty 22 per cent. But here’s a tip: stock up now and you can still use them after the price jump.
Nick Landon, Royal Mail’s chief commercial officer, commented on the price hike: “We always consider price increases very carefully. However, when letter volumes have declined by two-thirds since their peak, the cost of delivering each letter inevitably increases.”
He further explained the complexity of the delivery process: “A complex and extensive network is needed to get every letter and parcel across the country for a single price travelling on trucks, planes, ferries and in some cases drones before it reaches its final destination [delivered] on foot. We are proud to deliver the universal service, but the financial cost is significant.”
New banking fraud rules – October 7
Mandatory refunds from 7 October are set to become a world first, the Payment Systems Regulator (PSR) has declared. They’ve revised down the maximum payout from an initial suggestion of £415,000, explaining that the new limit of £85,000 is expected to cover upwards of 99 per cent of claims.
Which? director of policy and advocacy Rocio Concha expressed disappointment at the diminished reimbursement proposal, cautioning that it could weaken the resolve of banks and payment providers when it comes to fraud prevention. “The regulator has shamefully sidelined scam victims, despite the evidence showing that this decision could have a negative financial and psychological impact on them,” she said.
Inflation – October 16
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In terms of keeping track of the cost of living in the UK, eyes will be on the Office for National Statistics (ONS) come October 16, when they’re due to drop their latest figures on inflation. Inflation measures shifts in price levels over time – previous ONS communication pinned it steady at 2.2 per cent for the year ending in August, after peaking at a staggering 11.1 per cent in October 2022.
Autumn Budget – October 30
Looking a little further into the month, Chancellor Rachel Reeves is slated to present what will be Labour’s first Budget on Wednesday, October 30. Early September saw her conversing with the BBC about upcoming “difficult decisions” involving taxes, spending, and welfare, while her conference talk at the Labour Party event painted a more hopeful picture for the nation’s fiscal direction.
Self-assessment paper deadline – October 31
If you’re planning to submit your Self Assessment via a paper return instead of online, then the deadline is midnight on 31st October. Remember, 31st October is the date by which HMRC needs to have received your return, so ensure you factor in time for preparation and postage.
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