In this article we provide a list of the key dates that are likely to impact your finances in 2024. Below you will find a simple summary of the important dates that could impact your money this year, listed in chronological order running from January through to December.
January 2024
1st January
- New rules come into place that will affect those earning money through side hustles. Companies such as Etsy, eBay, Vinted, Uber and Deliveroo will be required to declare how much individuals are earning via their platform. Read our article 'What are the new side hustle tax rules and how do they affect you?' for more information.
- The Energy Price Cap increases to £1,928 for the average dual-fuel household. Read our article 'Should I fix my energy prices' for more information and for details on whether you should consider fixing your energy tariff.
2nd January
- Applications open for 15 hours per week of free childcare for qualifying working parents of children aged 2. Access to this additional free childcare will be available from April 2024. This is the first phase of the expansion of the free childcare initiative, which currently provides 30 hours of free childcare for children aged 3-4. Read more in our article 'Working parents to get 30 hours of free childcare support'
6th January
- The main rate of National insurance (charged on earnings between £12,570 and £50,270) to be cut from 12% to 10%. It means that an average worker on £35,400 would receive a tax cut of £450 in the 2024/25 tax year. Read our summary of the Autumn statement to find out more.
17th January
- The latest inflation figures are announced.
31st January
- Deadline for online self-assessment tax return for the 2022/23 tax year. Read our article '7 tips for your self-assessment tax return' for further guidance.
February 2024
1st February
- The latest Bank of England announcement on the base rate of interest is due.
14th February
- The latest inflation figures are announced.
March 2024
3rd March
- Regulated rail fares across England and Wales due to increase by 4.9%. Train fares usually increase every January in line with the Retail Prices Index (RPI) figure for the previous July, however, with RPI at 9%, the Department for Transport decided instead to cap the increase at 4.9%. It was also announced that future fare changes will also take place in March, rather than January.
6th March
- 2024 Spring Budget. Read our 2023 Spring Budget summary. We'll provide a link to our 2024 Spring Budget summary as soon as it ends.
20th March
- The latest inflation figures are announced.
21st March
- The latest Bank of England base rate announcement is due.
23rd March
- The temporary 5p fuel duty cut is due to end.
April 2024
1st April
- The national living wage increases. We explain the increase in more detail in our summary of the Autumn Statement.
- Expected increases to UK Council Tax (Excluding Scotland as this has been frozen). Most councils can increase bills by up to 5% (otherwise a referendum would need to be called). The average Council Tax band D rate currently stands at £2,065, which would mean an increase of £103.25 per year or around £8.60 per month.
- Colour TV licence increases from £159 to £169.50 per year.
- Expected increases to household bills including broadband and mobile phone contracts. Providers issue price rises linked to inflation each year and these even apply to those who are mid-contract. You can read our articles where we covered the price rises in 2023 for both broadband and mobile. Check out our articles 'How to switch broadband provider' and 'How to save money on your mobile phone bill'.
- New Energy Price Cap figures for the second quarter to come into force. In December 2023, analysis by independent energy specialist Cornwall Insight predicted that energy prices could fall by around 16% in April 2024, a £268 drop to £1,660 for the average dual-fuel household.
5th April
- Final day of the 2023/24 tax year. Each tax year, adults are entitled to a £20,000 ISA allowance. You will need to ensure you take advantage of your allowance as it cannot be rolled over. Children are also entitled to a £9,000 tax-free allowance via a Junior ISA. Check out our best ISA cashback offers.
6th April
- Tax cuts for the self-employed come into force. Class 2 tax contributions abolished and Class 4 contributions reduced from 9% to 8% on profits between £12,570 and £50,270. This represents a saving of around £350 for the tax year 2024/25, based on an average self-employed salary of £28,200. We explain this in more detail in our 2023 Autumn Statement summary.
- Tax-free allowance on dividends halved to £500
- Tax-free allowance on Capital Gains Tax (CGT) halved to £3,000
8th April
- State Pension increases by 8.5%. Read more in our article 'State pension to increase by 8.5% in April 2024'.
- State benefits such as Universal Credit and Pension Credit increases by 6.7% (in line with CPI figures for September 2023).
17th April
- The latest inflation figures are announced.
May 2024
9th May
- The latest Bank of England base rate announcement is due.
22nd May
- The latest inflation figures are announced.
June 2024
19th June
- The latest inflation figures are announced.
20th June
- The latest Bank of England base rate announcement is due.
July 2024
1st July
- New Energy Price Cap figures for the third quarter to come into force.
17th July
- The latest inflation figures are announced.
August 2024
1st August
- The latest Bank of England base rate announcement is due.
14th August
- The latest inflation figures are announced.
September 2024
1st September
- All qualifying working parents of children aged over nine months can now access 30 free hours a week of childcare. This is the second phase of the expansion of the free childcare initiative.
18th September
- The latest inflation figures are announced.
19th September
- The latest Bank of England base rate announcement is due.
October 2024
1st October
- New Energy Price Cap figures for the final quarter of 2024 to come into force.
5th October
- Registration deadline for those new to self-assessment.
16th October
- The latest inflation figures are announced.
31st October
- Deadline for postal self-assessment tax return for the 2023/24 tax year. Those wishing to complete their self-assessment tax return online have until 31st January 2025.
November 2024
7th November
- The latest Bank of England base rate announcement is due.
14th November (Approx)
- The Autumn Statement is usually delivered in mid to late November. In 2023 it was delivered on 22nd November. We will update the date once it is confirmed. Read our 2023 Autumn Statement summary. We'll provide a link to our 2024 Autumn Statement Summary straight after it has ended.
20th November
- The latest inflation figures are announced.
December 2024
18th December
- The latest inflation figures are announced.
19th December
- The latest Bank of England base rate announcement is due.
Additional dates to add to your personal finance diary in 2024
Alongside the dates listed above, there are several key dates that are likely to impact your own personal finances this year. Below, we summarise the additional dates you may wish to add to your diary in 2024.
Mortgage renewal date
If you have a fixed-rate mortgage, then dig out your paperwork and make a note of when the fixed-rate deal is set to expire. Most mortgage providers allow you to apply for a new fixed-rate deal up to 6 months before your current deal expires, so make sure you add a note in your diary 6 months prior to your fixed deal ending. Check out our guide on how to remortgage and get the best rate and for the best deals, check out our article 'Best remortgage deals in the UK' to easily find the best remortgage deals.
Car insurance renewal
Check to see whether your car insurance is set for automatic renewal. If it is, contact your provider and request for this option to be removed so that you have full control over the renewal process. Make a note of your renewal date and use a comparison site to find the cheapest car insurance policy. Read our article 'Best car insurance in the UK' to learn more.
Home insurance renewal
As with your car insurance renewal, check to see whether your home insurance is set for automatic renewal. Again, if it is, contact your provider and request for this option to be removed to gain control over the renewal process. Ensure you make a note of your renewal date and then use a comparison site to find the cheapest home insurance policy. Read our article 'Best home insurance in the UK' for more information.
Energy prices
Keep an eye on the latest energy price cap figures, released every quarter (1st January, 1st April, 1st July and 1st October). Depending on the latest figures and how competitive the energy market is, it may be worth fixing your energy tariff. Read our article 'Should I fix my energy prices'.
Savings accounts
Check the rate you are getting on your savings and when any limited-time deal is due to end. Make sure that you compare the best savings rates and look out for when any new rates and bonuses are set to expire.
Subscription renewals
Make a note of all of your subscriptions and when they renew. If you pay monthly, then you may be able to save money by paying annually, if you can afford to. Also, make sure that your subscriptions are not set to auto-renew and keep an eye out for offers. If you are paying monthly, then going through a cancellation process (even if you don't intend to do so) can sometimes trigger a special offer. Read our article 'How to find and cancel unwanted subscriptions'.
