{"id":78897,"date":"2023-09-26T12:30:15","date_gmt":"2023-09-26T12:30:15","guid":{"rendered":"https:\/\/posterboyedit.com\/?p=78897"},"modified":"2023-09-26T12:30:15","modified_gmt":"2023-09-26T12:30:15","slug":"eight-money-changes-coming-in-october-from-600-payment-to-energy-price-cap","status":"publish","type":"post","link":"https:\/\/posterboyedit.com\/lifestyle\/eight-money-changes-coming-in-october-from-600-payment-to-energy-price-cap\/","title":{"rendered":"Eight money changes coming in October \u2013 from \u00a3600 payment to energy price cap"},"content":{"rendered":"

Feeling strapped for cash at the moment? It's safe to say many Brits are feeling the pinch this year with the cost of living crisis hitting millions.<\/p>\n

Fortunately the government has introduced a flurry of money schemes to help struggling households. The price of first-class stamp are going up, while the bus fare cap is ending. <\/p>\n

Also millions of households are set to receive \u00a3300 cost of living payment within weeks. While applications for the Winter Fuel Payment is set to open.<\/p>\n

READ MORE: Brits warned PIP payments could be stopped if you don't follow correct rules <\/b><\/p>\n

You can read more money saving tips here. <\/b><\/p>\n

Here are eight key money changes coming in October…<\/p>\n

<\/p>\n

Energy price cap \u2013 October 1<\/h3>\n

Ofgem's new energy price cap is coming into effect from October 1. It means typical dual-fuel tariff households will pay \u00a31,923 a year for their energy bills, down from \u00a3151.<\/p>\n

The energy price cap works by setting a limit on the maximum amount suppliers can charge for each unit of gas and electricity. It's worth noting, the more you use, the more you'll pay.<\/p>\n

First-class stamps rise \u2013 October 2<\/h3>\n

The Royal Mail is increasing the price of its first class stamps on October 2, from \u00a31.10 to \u00a31.25. Second class stamps will be staying the same at 75p.<\/p>\n

<\/p>\n

Winter Fuel Payment \u2013 October 4<\/h3>\n

Applications open for the scheme where state pensioners can claim help from the government. Postal applications opened on September 18, but from October 4, Brits can apply via phone.<\/p>\n

Most people receive the Winter Fuel Payment automatically but some have to apply for it. It's worth \u00a3300 and this year the government is topping it up with an extra \u00a3300 so it's \u00a3600.<\/p>\n

Self-assessment register deadline \u2013 October 5<\/h3>\n

If you've never completed a self-assessment tax return, you have to register with HMRC by October 5 for the 2022\/23 tax year. You will have to fill in one of these tax returns if you're self-employed or haven't had tax deducted.<\/p>\n

You may also have to file a self-assessment tax return if you've earned extra cash outside your normal employment.<\/p>\n

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