A series of nine money and rule changes for Department for Work and Pensions (DWP) claimants are 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. Those needing to apply can do so by phone from October 28.
Beyond the Winter Fuel Allowance, valued at £300, there are nine other changes and financial rules and laws that will affect people.
Ofgem energy price cap rises
From October 1, the Ofgem energy price cap will rise. Energy bills will increase in October following a 10% hike in the industry regulator’s cap on energy prices, reports Birmingham Live.
Under the new price cap, the average annual energy bill will surge to £1,717 a year for gas and electricity, a £149 increase from its 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
The Warm Home Discount Scheme will open in October, it is a government initiative designed to assist some of the UK’s lowest earners with their energy bills. Eligible individuals will receive £150 towards their bills through the scheme.
New mobile roaming rules
New mobile roaming rules are also 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 extensive new protections.
Mobile providers will be required to notify customers when they start roaming. They must also provide clear, free-to-access information so customers can make informed decisions about using their mobile phones abroad.
Cristina Luna-Esteban, Ofcom’s Director of Telecoms Consumer Policy, said: “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
You need to register for self-assessment by 5 October following the tax year’s end. For instance, if you’re due a tax return for the period of 6 April 2023 – 5 April 2024, your registration deadline is 5 October 2024.
Those who’ve previously submitted a self-assessment need not re-register; HMRC is expected to prompt you. Yet, it remains your duty to complete a return whether or not a reminder is sent.
Stamp prices rise again
Come Monday, 7 October, the price of a standard first-class stamp will jump a hefty 22%, Royal Mail has announced. But any stamps bought now will remain valid after the hike.
Royal Mail’s chief commercial officer, Nick Landon, 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.”
Moreover, he explained the complexity involved in mail delivery: “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
In a groundbreaking move, the Payment Systems Regulator (PSR) has announced that from 7 October, refunds for scam victims will become mandatory. However, the watchdog has reduced the maximum compensation from the initially proposed £415,000 to £85,000, which it claims will cover over 99% of claims.
Rocio Concha, Which? director of policy and advocacy, expressed disappointment, stating that lowering the proposed reimbursement would reduce the incentives for banks and payments firms to take fraud prevention seriously.
“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 added.
Key upcoming dates include:
* 16 October: The Office for National Statistics (ONS) will release the latest inflation data, which measures changes in prices over time. The previous update revealed inflation remained unchanged at 2.2% in the 12 months to August, with a peak of 11.1% in October 2022.
* 30 October: Chancellor Rachel Reeves will deliver Labour’s first Budget, which she has warned will involve “difficult decisions” on tax, spending, and benefits. However, her recent speech at the Labour Party conference struck a more optimistic tone about the economy’s future.
* 31 October: The deadline for self-assessment paper submissions. For those who prefer to file their Self Assessment via a paper return rather than 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.
