Some major changes will come into place next year, including energy bill hikes
Households all across the country have been budgeting to make ends meet in the face of growing cost of living crisis.
"It’s expected to ease off as we go through 2023 but it’s going to stay tough. Added to this the amount of tax we pay continues to rise as the complex web of tax freezes and increases continues to pull more people into paying more tax.If you need to file an online self-assessment tax turn, the deadline for doing this is January 31, 2023. This is for the 2021/22 tax year. If you miss this deadline, you could be fined a minimum of £100 even if you have no tax to pay.
5. Energy discounts end - March 31 Millions of households across the UK are currently getting a £400 rebate on their energy bills, split over the winter period months. The scheme is due to end after March 31, 2023 with no current plans for it to be extended. Instead of councils only being able to raise them by 3% without a referendum, they will be able to raise them by 5%. This is made up of 3% in core council tax plus a further 2% for social care.
10. End of the tax year - April 5 The end of the current tax year always falls on April 5. This is the last day before all your tax allowances reset. The triple lock guarantees the state pension rises by the highest of average earnings, CPI inflation and 2.5%. 13. Stamps deadline - July 31 Classic stamps are being replaced by digital barcodes. Traditional stamps will no longer be accepted from July 31.
If you receive a Winter Fuel Payment, then you'll be eligible for the pensioner cost of living payment as well - this means you could potentially get up to £600. Winter Fuel Payments are normally worth between £100 and £300 - depending on your age, who you live with and if you claim benefits.
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