Some changes were previously announced in the Budget, while some have been in the pipeline for a while longer
2026 will be a year of big changes for your wallet – and the Mirror has rounded up all the key dates you need to note in your diary.
From changes to inheritance tax, to the two-child benefit cap being axed, we reveal everything you need to know. Some changes were previously announced in the Budget, while some have been in the pipeline for a while longer.
Other updates happen periodically, like the Ofgem price cap changing, or key deadlines for your tax bill if you are self-employed.
January – Ofgem energy price cap rises
The Ofgem energy price cap will rise from £1,755 a year to £1,758 from January. This represents someone with typical energy usage who pays by direct debit. Your bill can be higher or lower than this, depending on how much gas and electricity you use. Ofgem updates its price cap every three months, so it will change again in April, July and October.
January 21 – first inflation update of the year
The first inflation update from the Office for National Statistics will be released on January 21. Inflation is a measure of how prices have changed over time. The Consumer Prices Index (CPI) measure of inflation is currently at 3.6%. At its highest point, inflation reached 11.1% in the 12 months to October 2022. Inflation figures get released every month.
January 28 – Winter Fuel Payment deadline
If you haven’t received your Winter Fuel Payment, you can contact the Winter Fuel Payment Centre from January 28. The Winter Fuel Payment is worth up to £300 and is available to people over state pension age, but if you earn over £30,000 a year, then you will need to repay it through the tax system.
January 31 – self-assessment tax deadline
If you have to submit a self-assessment tax return, the deadline for filing this online is January 31. This applies for the 2024/25 tax year. If you miss this deadline, you face a fine of at least £100 – even if you have no tax to pay. You also need to pay any tax you owe for the previous tax year.
February – alcohol duty rises
Alcohol duty will rise by 3.66% from February, in line with RPI inflation. This will add 11p on a bottle of Prosecco, 13p on a bottle of red wine and 38p for a bottle of gin, according to the Wine and Spirit Trade Association.
February 5 – first Bank of England meeting of the year
The first Bank of England meeting of 2026 where it will decide what happens next to interest rates will take place on February 5. The base rate – which influences how much you’re charged to borrow money and how much interest you make from your savings – is currently at 4%. The Bank of England meets every six weeks to set the base rate.
March 31 – Household Support Fund ends
The Household Support Fund will come to an end on March 31. The Household Support Fund is a scheme that allows local councils to award specific help to residents who are behind on bills, or on low incomes. The support is normally given in the form of cash grants that don’t need to be paid back, or energy and supermarket vouchers.
April – two-child benefit cap axed
The two-child benefit cap is being axed from April 2026. The two-child benefit cap stops low-income families from claiming further means-tested benefits when they have a third or subsequent child born after April 6, 2017.
April – minimum wage goes up
Millions of workers will see the minimum wage rise from April. For someone aged 21 and over, minimum wage will rise from £12.21 an hour to £12.71 an hour, while those aged 18 to 20 will see their rate rise from £10 an hour to £10.85 an hour. If you’re under 18 or you’re an apprentice, minimum wage is rising from £7.55 an hour to £8 an hour.
April – council tax rises
Council tax bills will rise again in April. Local authorities in England are allowed to increase bills by up to 5% – if they want to introduce larger rises, they have to hold a referendum. The average band D council tax bill in England for 2024/25 is £2,280.
April – TV licence fee could rise
The TV licence fee normally rises every April, although the government has yet to officially announce if it will definitely go up again next year. It currently costs £174.50 a year for a TV licence. It typically increases every year in line with the previous September rate of CPI inflation.
April – water bills rise
Water bills are expected to rise again from April. It was previously confirmed that Ofwat will allow companies to raise average bills by 36% in England and Wales over five years, to 2030. This would see water companies increase average bills by about £157 over this period.
April – car tax rises
Car tax normally goes up every April in line with RPI inflation. The standard rate which is charged to all cars registered after April 2017 – excluding the first-year car tax rate for brand new vehicles – is currently £195 a year. The “expensive car supplement” for zero-emission vehicles (EVs) will increase from £40,000 to £50,000. The £40,000 threshold for petrol, diesel, and hybrid cars will remain unchanged.
April 5 – end of the tax year
The end of the current tax year always falls on April 5. This is the last day before all your tax allowances reset, so make sure you make the most of these before the new tax year starts on April 6. For example, there is an ISA allowance of £20,000 every tax year, as well as a cap of £60,000 for how much you can pay into your pension before you start to pay tax.
April 6 – state pension and benefits rise
Millions of people will see their benefits rise by 3.8% from April 6, but Universal Credit gets a larger boost to its standard allowance of around 6.2%. The state pension will increase by 4.8% in line with the triple lock promise.
April 6 – inheritance tax hike
Inheritance tax changes for farmers will be introduced in April 2026. There will be a new £1 million cap on inherited agricultural assets, with an inheritance tax rate of 20% charged on assets above this value.
April 6 – dividend tax rate hiked
The dividend tax rate will rise from 8.75% to 10.75% for basic rate taxpayers and 33.75% to 35.75% for higher rate taxpayers after changes were announced in the Budget.
April 6 – new shop price rules
New rules covering how prices must be displayed in shops will come into effect, designed to make it easier to compare prices by including the selling price and the unit price.
April 6 – work from home tax relief cut
If you work from home, you will no longer be able to claim tax relief from HMRC for extra household costs – such as gas and electricity – from April 2026. The work from home allowance in the UK is a flat rate of £6 per week.
July 15 – new buy now, pay later rules
Buy now, pay later will become fully regulated by the Financial Conduct Authority (FCA) from July 15, 2026. It means buy now, pay later providers will have to check that people can afford to repay their loans and offer support if they get into financial difficulty.
August – university tuition fees increase
The maximum annual university tuition fees in England rise in line with inflation from £9,250 to £9,535.
September – fuel duty cut ends
The 5p per litre cut in fuel duty introduced by the Conservative government in March 2022 will start to be tapered away, back to normal levels, from September 2026. Rates will gradually return to March 2022 levels by March 2027.
September – free school meals eligibility expanded
The eligibility for free school meals will be expanded to include all children in England whose parents receive Universal Credit from September 2026. There is currently an income threshold of around £7,400 to qualify for free school meals.
October –
A new duty will be charged on vaping products at £2.20 per 10ml of vaping liquid from October 2026. At the same time there will be a one-off rise in tobacco duty. This could then be followed by another tobacco duty rise in November in the Budget.
October 5 – deadline to register for self-assessment
If you need to register for self-assessment tax for the first time, the deadline is always October 5 every year. You may end up being fined by HMRC if registering late means you miss the tax return and tax payment deadlines.
October 31 – file paper self-assessment tax return
If you plan on filing a paper self-assessment tax return, the deadline is October 31. If you don’t send your paper forms in time, you can instead fill out your tax return online – the deadline for this is January 31 the following year. Again, you face fines if you miss the deadline.
