Key dates for your money in 2025

From council tax hikes to bus fare increases, 2025 is packed with important  dates for your finances.  

To help you plan ahead and avoid surprises, here’s a list of key money-related dates you’ll want to mark in your calendar.  

January  

1 January – new energy price cap  

The energy price cap, which limits how much companies can charge per unit of energy, will rise by around 1.2%. 

This means the average household’s annual energy bill will rise by an extra £21 –about £1.75 more each month.  

This will affect around 27 million households on a variable tariff. 

1 January – bus fare cap rises  

The bus cap on single journeys will rise from £2 to £3. The new fare will be in place until the end of 2025.  

The bus fare cap was introduced in 2022 to help people cope with rising living costs. It sets a limit on how much you can pay for a bus ride.   

This cap applies to most bus services in England, but it doesn’t cover London, Greater Manchester and West Yorkshire, which already have their own fare limits.   

A single fare will still be £1.75 in London, while Greater Manchester fares will stay at £2. 

29 January – deadline for winter fuel payment 

Pensioners who receive certain benefits qualify for a winter fuel payment worth up to £300.  

If you haven’t received it or heard anything by 29 January, get in touch with the winter fuel payment centre on 0800 731 0160. 

31 January – self-assessment deadline 

If you need to file a tax return or pay tax for 2023/24, the deadline for online submissions and payments is 31 January.  

You’ll also need to make your first ‘payment on account’ towards next year's tax bill. 

February  

1 February – alcohol duty rise  

The freeze on alcohol duty had been extended until 1 February 2025. 

After this date, the price of some alcohol will go up as duty rates on all non-draught products will rise in line with the retail price index (RPI) measure of inflation. 

It’s not all bad news though, as the cost of draught beer served in pubs will remain unchanged. 

6 February – interest rate decision  

The Bank of England (BoE) will announce its decision on interest rates. This affects how much you’ll pay to borrow money or earn on savings. 

In 2023, the base rate climbed to a 15-year-high of 5.25%. But it has since fallen to 4.75%, following a drop in rates of inflation.  

The BoE governor recently said there are likely to be four interest rate cuts in 2025.  

25 February – next energy price cap announcement  

Expect the announcement of the new energy price cap for April to June. If it rises, energy bills could increase again.  

March 

2 March – train fares increase  

Train fares in England will rise by 4.6% and railcard prices will increase by £5, up nearly 17%. 

Check out our tips on how to buy cheaper train tickets.  

3 March – Free Will Month  

Free Wills Month starts, offering free basic wills to people aged 55+ through participating solicitors and charities. 

31 March – household support fund ends

31 March – temporary stamp duty relief ends 

The temporary relief on stamp duty that was introduced in September 2022 will end.  

As of 1 April, homeowners will pay stamp duty on purchases over £125,000 instead of the current £250,000.  

The stamp duty threshold for first-time buyers will be £300,000, rather than the current £425,000 threshold. 

April 

April is without doubt the busiest month in the financial calendar.  

1 April – national living wage increase  

The national living wage will increase on 1 April.  

The minimum wage is the least an employer can legally pay you if you work in the UK, depending on your age. For those over 21, this is called the national living wage. If you’re under 21, you receive the national minimum wage.   

The living wage for those aged over 21 will rise by 77p to £12.21 an hour from April 1. 

The rate for 18-20-year-olds will increase by £1.40 to £10. 

Apprentices will get £7.55 an hour, a £1.15 increase. 

You can use the minimum wage calculator to find out if you're being paid the correct national minimum wage or national living wage.  

1 April – council tax rise  

Millions of households could see their council tax bill rise by up to 5%. The exact amount your bill will increase by will depend on where you live and what band your property is in. 

You can check your band using this tool on the government website. 

1 April – water bills increase 

The water regulator Ofwat has forecast that bills will rise by £27.40, pushing up the average household water bill to £473. 

1 April – TV licence increase  

In December, the government announced that the cost of a TV licence will increase by £5 to £174.50.  

1 April – car tax increase 

Car tax will also rise in line with RPI. Car tax on electric vehicles also comes into effect. 

5 April – end of tax year 

If you contribute to an individual savings account (ISAs) or junior version, use up your annual allowance before 5 April to avoid losing it. 

5 April – state pension top-up deadline  

If you have gaps in your national insurance record, you can buy back years to go towards your state pension from 2006. But do so before 5 April, after which only six years can be topped up. 

Your national insurance record determines how much state pension you get and you need 35 years of contributions or credits to get the full amount. 

5 April – tax credits end 

If you receive tax credit, you only have until this date to move to universal credit before the benefit ends.  

Those affected are being sent a ‘migration notice’ by the Department of Work and Pensions (DWP), who are urging people to respond so they continue to receive support.  

If you’re worried you might be missing out on benefits, we can check you’re claiming everything you’re entitled to. Get in touch, or try our benefits calculator. 

6 April – employer national insurance increase  

Employer national insurance rates rise from 13.8% to 15% and the threshold for payments lowers from £9,100 to £5,000. 

6 April – state pension rise 

Millions will see a rise of £472 in their state pension, as part of the triple lock guarantee, which guarantees payments rise in line with wages, inflation or 2.5% - whichever is highest. 

6 April – help to save scheme expanded 

From this date, anyone earning at least £1 per month and claiming universal credit can apply for the government’s ‘help to save’ scheme, which gives you a bonus of 50p for every £1 saved. 

Currently, those who get universal credit must earn £793.17 or more each month to qualify.  

The help to save scheme is backed by the government, so all money is protected.  

May  

26 May – energy price cap announcement  

The energy regulator Ofgem will set the energy price cap for July to September. This will determine how much you’ll pay for your energy during the summer. 

June 

30 June – mortgage guarantee scheme closes 

If you’re trying to get a mortgage with a 5% deposit, the government’s mortgage guarantee scheme will close on 30 June. 

The scheme is aimed at helping people with low deposits buy their own home by giving lenders more protection.  

July  

1 July – energy price cap update  

The energy price cap for the third quarter of the year will come into effect.  

31 July – payment on account deadline 

If you’re self-employed, you’ll need to make your second 'payment on account' by 31 July. 

'Payments on account' are payments towards your next tax bill, which help spread the cost by making payments in two instalments.  

If you don’t expect to pay as much tax over the coming tax year as you did the previous year, you can apply to reduce your payment on account.  

August  

1 August – student fees rise  

The maximum fees that universities can charge students will rise from £9,250 to £9,535 a year.  

It will be the first increase in student fees since a freeze was introduced in 2017.  

September – free childcare rollout completed 

The government’s free childcare scheme for working parents will be fully rolled out, offering 30 hours of free childcare a week for children under five. 

Parents should apply before the start of the term when their child will be eligible. 

The government website has details of the deadlines to apply for each age group. 

October  

1 October – energy price cap  

The new energy price cap will come into effect until the end of December. 

5 October – self-assessment registration deadline 

If you’ve become self-employed or started renting property, you must register with HMRC by 5 October if you need to file a tax return. 

22 October – inflation figures announced 

Inflation figures for September will be released. September’s figures are important because they affect how much state pension and benefits will rise the following April.  

31 October – paper self-assessment deadline 

If you file your self-assessment by post rather than online, the deadline for it to reach HMRC is 31 October.  

Autumn budget 

It is around this time of year that the autumn budget takes place, where the government announces any proposed changes to taxes, welfare and public spending. 

Keep an eye on this event to stay informed about potential changes that could affect your income, benefits and overall cost of living. 

The 2024 autumn budget took place on 30 October: a number of positive steps were made by the chancellor, but it failed to fully meet the needs of low-income families.  

November  

28 November – Black Friday starts  

Black Friday kicks off on 28 November. It’s a great time for deals but be sure to ask yourself if you truly need the items before you buy them. Don’t get caught up in impulse spending! 

Check out our tips on how to score the deals while avoiding Black Friday’s buyer remorse.