Big bill hikes, but some extra cash too—here’s what’s coming this month.
April is bringing some significant changes to our wallets. From rising bills to a boost in wages and benefits, here’s what we need to watch out for.
April 6: A Fresh Tax Year
The new tax year kicks off, meaning any changes to tax rates or benefits will start to show in our pay packets. It’s a good time to check if we’re on the right tax code and see if we’re due any rebates.
Tax Credits Ending
Tax Credits will come to an end on 5 of April and all claimants should be moved onto Universal Credit by this date. If we still need to apply, we should do so quickly or our benefits will stop. If we need an extension, contact an advisor before the deadline. If we need an extension, we need to contact an advisor before our deadline. Click here to contact an advisor.
Energy Bills Set to Rise
Energy bills are expected to go up by around 6.4% after April. That means an extra £111 a year for the average household. Adam Scorer from National Energy Action shared his frustration, saying, “Households already faced sky-high bills as a result of the energy crisis, and today’s announcement will add to the burden on the most vulnerable.”
For support on paying bills, click here.
Council Tax Hike
Councils across England, Scotland, and Wales are increasing their council tax rates this April, with the average rise around 5%. Some local authorities are going even higher, with parts of Scotland and Wales are seeing hikes that could add over £200 a year to some bills. Check out council tax support schemes for help. Read more here.
Water Bills Soaring
In England and Wales, water bills are set to rise by about £10 a month, but there is a lot of variation depending on the supplier. Rises are less stark in Scotland, averaging an increase of £3.68 per month. If we’re feeling the pressure, there are plenty of tips and support available to help reduce water use. Find out more here.
TV Licence Fees Going Up
The TV licence fee will rise by £5 this April. It’s a small increase, but with all the other price hikes, it can add up.
A Silver Lining: Wages and Benefits Rising
Not everything in April is bad news—just like April showers bring May flowers, wages and benefits are getting a much-needed boost.
- The National Minimum Wage for over-21s jumps from £11.44 to £12.21 an hour. That’s a welcome increase for many of us on lower incomes.
- Benefits will rise by 1.7%, following last September’s inflation figure.
- The State Pension will rise based on inflation, wage growth, or 2.5%, helping pensioners keep up with the cost of living.
Help to Save Scheme Expanded
From April 6, the Help to Save scheme will be available to all Universal Credit claimants. This offers a 50% top-up on money saved, helping build a nest egg. More details here: Help to Save. More details here: Help to Save.
Image: Fizkes / Shutterstock
