All the major changes affecting your money in April - including new DWP cost of living payment
Many can expect to see some key benefit rule changes as well as increases to payments and wages. Meanwhile, other utility bills such as gas, electricity, water, and broadband will face a series of increases.
Increase in energy bills - April 1 The energy bill support scheme will come to an end, which will result in a monthly increase of roughly £70 on average. It's important to note that this has been buffered somewhat by the energy price guarantee which will remain in place. Rise in water bills - April 1 Households across the country will face the largest increase to water bills in almost 20 years. According to Water UK, an increase of 7.5 per cent would results in an average price rise of £448 a year.
BT, EE, Plusnet and Vodafone broadband contracts allow prices to go up by CPI plus 3.9%. At TalkTalk, it is CPI plus 3.7%, while Shell Energy can add CPI plus 3%. Sky and Virgin Media contracts allow mid-contract price increases but they do not use the same pricing formula as others. Income tax - April 6 The 45% additional rate of income tax threshold is being cut from £150,000 to £125,140, which means more higher earners will pay higher tax.
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