Make sure to pencil in these key money dates in your new diary to avoid any nasty financial surprises…
January 31: File your tax return
You have weeks to file an online return and pay what you owe.
There’s a £100 fine if you file up to three months late. For late payments, you’re charged 7.25 per cent interest.
March 2: Train fare hike
Commuters beware – train fares in England will increase by 4.6 per cent.
January 2025: You have weeks to file your online tax return and pay what you owe. There’s a £100 fine if you’re up to three months late. After this, interest is charged at 7.25%
April 1: Stamp duty relief ends
No stamp duty is payable on the first £250,000 of a home – but this is set to drop to £125,000.
First-time buyers don’t pay stamp duty until a home is worth £425,000, but this will fall to £300,000.
April 1: Household bills rise
Households will be pummelled with swathes of bill hikes – most notably council tax and water bills in England and Wales.
The latter will rise by an average of £86 a year, while the TV licence fee is set to increase by £5 to £174.50.
April 5: Pension top-ups change
Some 35 years of National Insurance contributions are needed to get the full new state pension.
But after April 5, you’ll only be able to top up gaps in your record for six previous tax years, rather than going back to 2006, as you can currently.
April 5: Isa deadline
Savers and investors have until April 5 to use this financial year’s tax-free Isa allowance of £20,000 – or lose it.
April 6: State pension increase
Pensioners on the full new state pension will get a £472-a-year boost.
Weekly payments to those who retired after April 2016 will rise to £230.25, while those who retired before then will receive £176.45.
l.evans@dailymail.co.uk
***
Read more at DailyMail.co.uk