October is shaping up to be a significant month for financial matters, with various key dates to mark on your calendar. Energy bills are set to rise at the beginning of the month, but a program offering a £150 reduction in electricity costs is also reopening for those in need.
Additionally, the Winter Fuel Payment phone line will be available for applications, although most eligible individuals will receive it automatically. Self-employed individuals should be aware of the upcoming self-assessment tax registration deadline in October.
It is crucial to note that the Ofgem energy price cap will increase from £1,720 to £1,755 per year on October 1, affecting typical dual fuel households paying through direct debit. The cap will remain in place until December 31 before being revised.
For those new to self-assessment tax returns, registration with HMRC must be completed by October 5 for the 2024/25 tax year. Individuals can check if they need to file a tax return on GOV.UK, especially if they are self-employed or have additional untaxed income.
Winter Fuel Payments, valued at up to £300, will be automatically issued to eligible recipients, with applications necessary in specific cases starting October 13. The deadline to contribute to the Tesco Christmas Saver scheme is October 16, where Clubcard points can be accumulated for festive season shopping.
The Office for National Statistics will release the latest inflation data on October 2, reflecting price changes over time. Notably, the deadline for postal submission of self-assessment tax returns is October 31, with penalties for late filing and subsequent delays.
Households entitled to the Warm Home Discount, providing a £150 electricity bill reduction, can anticipate receiving notification by post from October 20. This benefit is applicable to households receiving qualifying benefits, like Pension Credit or Universal Credit, with the discount applied directly to the energy provider.
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