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Winter Fuel Payments are worth up to £300 and the majority of people who are eligible will receive this cash automatically – but there are some that need to apply
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The Department for Work and Pensions (DWP) has unveiled nine money and rule changes that will affect claimants and more. UK households are set to face a raft of new rules in October 2024, including the opening of Winter Fuel Payment phone lines as part of the shake-up.
Changes are expected across the board, 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.
If you’re among those who need to apply, you can do so by phone starting October 28.
Beyond the £300 Winter Fuel Allowance, there are nine other changes, financial rules and laws that will have an impact. BirminghamLive has revealed the list of changes ahead of the shake-up.
Ofgem energy price cap rises from October 1
The Ofgem energy price cap is set to rise on October 1. Energy bills will see an increase in October following the industry regulator’s announcement of a 10% hike in its cap on energy prices, reports Birmingham Live.
With the new price cap, the average annual energy bill will jump to £1,717 for gas and electricity, a £149 increase from the current level of £1,568, which has been in place since July.
The average price cap for standard credit households will rise by £161 to £1,829.
Warm Home Discount – opens in October
The Warm Home Discount scheme will open in October.
The Warm Home Discount Scheme, a government initiative designed to support some of the UK’s lowest earners with their energy bills, is set to open again this October. Those eligible for assistance will receive £150 towards their bills through the scheme.
New mobile roaming rules – October 1
New mobile roaming rules are set to come into effect on October 1. In an effort to ensure all mobile customers have the necessary information at the right time, Ofcom is introducing new protections.
From October 1, 2024, mobile providers will be required to notify customers when they start roaming. They will also need to provide clear, free-to-access information so customers can make informed decisions about using their mobile phones 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
The deadline to register for self-assessment is October 5.
You need to sign up for self-assessment by 5 October following the end of the tax year. For instance, if you’re due to fill out a tax return for the period from 6 April 2023 to 5 April 2024, you’ve got until 5 October 2024 to register.
If you did a self-assessment last year, no need to do it again HMRC will usually send a reminder to file your return (but remember, it’s on you to ensure you do it whether they nudge you or not).
Stamp prices rise again – October 7
Stamp prices are set for another hike on October 7.
Get ready to fork out more for your stamps as standard first-class stamp prices are set to soar by a hefty 22% come Monday 7 October, Royal Mail has announced. However, stock up now and you can still use them even after the price jump.
Nick Landon, Royal Mail’s chief commercial officer, commented: “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 added: “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 – October 7
Banks face new fraud rules starting October 7.
A groundbreaking move will see refunds become obligatory from 7 October, as per the Payment Systems Regulator (PSR). However, it has scaled down the maximum payout from an earlier suggestion of £415,000, stating that the new limit of £85,000 would suffice for over 99% of cases.
Which? policy and advocacy director Rocio Concha criticised the reduction in the proposed compensation amount, claiming it diminishes incentives for financial institutions and payment companies to strengthen fraud prevention efforts.
“The regulator has shamefully sidelined scam victims, despite the evidence showing that this decision could have a negative financial and psychological impact on them,” Concha said.
Inflation – October 16
Inflation figures are set for an update on October 16, with the Office for National Statistics poised to reveal whether prices have shifted. The most recent ONS report showed inflation steady at 2.2% up to August, contrasting with a peak of 11.1% in October 2022.
Budget – October 30
Later in the month, on October 30, Chancellor Rachel Reeves will present Labour’s inaugural Budget. Despite indicating “difficult decisions” ahead during a September interview with the BBC, her conference address suggested a brighter outlook for Britain’s economy.
Self-assessment paper deadline – October 31
Individuals opting for paper filing must note the self-assessment deadline looming on October 31.
If you’re planning to file 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.
