All the big announcements that affect your money in 2025 – dates
Stay informed about the new tax year changes, benefit adjustments, and critical financial milestones that could affect your budgeting and financial planning.
We'll be adding to this list through the year when we get a clearer picture of what is happening later in 2025.
January
Energy price cap: New prices came into force on January 1 2025 and run until March 31. The price cap is announced quarterly.
Tax return deadline: January 31 2025 is the deadline to pay tax owed for the 2023/24 year.
February
Bank of England base rate decision: The next decision is due on February 6 2025. In January the base rate was 4.75%, having fallen from 5% in October.
The base rate has a big bearing on mortgage rates and interest on savings. The higher the base rate, the more you're likely to pay on a mortgage if on a variable rate or renewing.
Energy price cap: The price cap for April 1-June 30 is announced on February 25.
VAT returns due: For businesses whose VAT quarter ended on December 31, 2024
March
Budget: The Chancellor of the Exchequer will announce the Spring Statement on March 26 2025, six months after the full Budget in 2024 which sent shockwaves through small businesses with National Insurance rises.
Also known as a 'mini Budget', the Spring Statement will also include some financial changes, for example adjustments to tax policies like the income tax threshold.
The Chancellor will give economic forecasts and updates on Government spending.
Consultation on sickness and disability benefits reform: The Department for Work and Pensions says this will be launched in Spring 2025.
Household Support Fund: The funding pot given to all councils to support vulnerable people through the cost of living crisis comes to an end in March. It was originally due to end on September 30 2024 but was extended.
April
New tax year: Starts on April 6 2025. April also brings lots of changes to benefit payment rates and taxes.
Deadline for ISA allowance: Your annual ISA allowance restarts on April 6, so if you’re wanting to invest tax free, you may want to look at options before April 5.
National Living Wage: Will rise by 6.7% in April, from £11.44 to £12.21.
Those aged 18 to 20 will see a 16.3% rise from £8.60 to £10 an hour, bringing them close in line to those aged 21 and over.
The minimum wage for under 18s will be £7.55, the same as apprentices.
TV licence: The fee will rise by £5 to £174.50 on April 1. This is the second year of increases since 2021 after the Government froze it until 2024.
Changes to benefits: The Chancellor announced in October that benefits will rise 1.7% from April 1.
The uplift will apply to all working-age benefits including Universal Credit, PIP, DLA, attendance allowance and carer's allowance.
Car tax: Is rising, especially for electric vehicle owners who will have to pay (£190) for the first time. We have an explainer on the car tax changes for both EV and combustion engine drivers, here: From car tax to PCP probe - major driving rules and changes launching in 2025
State Pension: The State Pension is set to rise by 4.1% under the triple lock. The £472 uplift matches wage growth in 2024.
Business rates: New business rates for 2025/26 begin.
Water bills: New prices will come into effect on April 1 and for those in England and Wales they're likely to increase by an average of £86 - excluding inflation - after Ofwat agreed households could help fund major infrastructure works needed to stop sewage spillages into waterways.
Council tax: Rises of up to 5% can come into effect from April 1 for those in England. A 5% rise would see a typical Band D property pay £2,280 a year - £109 more than 2024.
Regular announcements
Energy price cap: It's announced quarterly by Ofgem. The next update is due on February 25 2025, with the prices coming into force on April 1.
Bank of England base rate: This is the interest rate level set by the Bank of England and announced usually monthly. The next decision on February 6, 2025
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