Related Articles
A series of changes affecting the Department for Work and Pensions (DWP) claimants have been announced, with UK households set to face a raft of new rules in October 2024. Among the changes is the opening of the Winter Fuel Payment phone lines.
The shake-up will impact everything from energy bills to Royal Mail stamps. Winter Fuel Payments, worth up to £300, will be automatically received by most eligible individuals, but some will need to apply. Those needing to apply can do so via phone from October 28.
In addition to the Winter Fuel Allowance, which is valued at £300, there are other changes, financial rules and laws that will affect people. Here is the list of changes ahead of the shake-up.
Ofgem energy price cap rises
From October 1, the Ofgem energy price cap will rise. Energy bills will increase in October following the industry regulator’s announcement of a 10% hike in its 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.
The Warm Home Discount will open in October
The Warm Home Discount Scheme, a government initiative designed to provide financial assistance towards energy bills for some of the UK’s lowest earners, is set to reopen this October. Those eligible for the scheme will receive a £150 contribution towards their energy costs.
(Image: Getty)
New mobile roaming rules
In an effort to ensure mobile customers are well-informed, Ofcom is implementing new protections from 1 October 2024. Mobile providers will be required to notify customers when they begin roaming and must provide clear, accessible information to help customers make informed decisions about using their mobile phones abroad.
Cristina Luna-Esteban, Ofcom’s Director of Telecoms Consumer Policy, commented: “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,”.
Self-assessment register deadline
If you’re diving into self-employment, remember the key date for registering for self-assessment is 5 October following the end of the tax year. For instance, for the tax year running from 6 April 2023 to 5 April 2024, your deadline is 5 October 2024.
No need to re-register if you filed a self-assessment last year; HMRC should nudge you to submit one this year, but ultimately, it’s on you to remember.
Stamp prices rise again
Brace yourselves as stamp prices are set to soar from Monday, 7 October. Royal Mail has announced a hefty 22% hike in the price of standard first-class stamps.
However, there’s a silver lining stamps bought before the increase can still be used post-hike, so it might be wise to stock up now.
Nick Landon, Royal Mail’s chief commercial officer, commented on the rise: “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 behind the scenes: “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 fraud rules for banks
Also kicking in on 7 October are new fraud rules for banks, marking another significant change to keep an eye on.
From 7 October, in a groundbreaking move, refunds will become compulsory, as declared by the Payment Systems Regulator (PSR). The authority has decided to lower the maximum compensation from an earlier suggestion of £415,000. It explained that the new limit of £85,000 would encompass over 99% of claims.
Which? director of policy and advocacy, Rocio Concha, criticised the reduction in the proposed reimbursement amount, arguing it could weaken the resolve of banks and payment companies to prevent fraud effectively. “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 remarked.
Inflation figures are set to be published on October 16 by the Office for National Statistics (ONS). Inflation tracks the variation in prices over time.
According to the most recent ONS report, inflation remained steady at 2.2% in the year leading up to August. Previously, inflation had peaked at 11.1% in October 2022.
Chancellor Rachel Reeves is scheduled to present Labour’s inaugural Budget on Wednesday, October 30. Early in September, she indicated to the BBC that the budget would necessitate “difficult decisions” regarding taxes, spending, and benefits.
Nonetheless, her address at the Labour Party conference hinted at a more hopeful outlook for the economy’s future. For those who prefer to file their Self Assessment via a paper return instead of online, the deadline is midnight on 31st October. It’s important to remember that this is the date by which HMRC needs to have received your return, so ensure you factor in time for preparation and postage.
