In 2026, significant financial changes are on the horizon, and it’s crucial to mark your calendar with key dates. The Mirror has compiled a comprehensive list of important dates that will impact your finances.
Updates range from alterations in inheritance tax to the elimination of the two-child benefit cap. These changes, some of which were disclosed during the Budget announcement, have been in the works for some time.
Additionally, routine updates like the adjustment of the Ofgem energy price cap and essential deadlines for self-employed individuals’ tax obligations are scheduled. Ofgem will raise the energy price cap from £1,755 to £1,758 annually starting in January, affecting those with standard energy consumption habits.
The Office for National Statistics will issue the first inflation update on January 21, revealing the current Consumer Prices Index (CPI) inflation rate of 3.6%. Individuals over state pension age, eligible for the Winter Fuel Payment of up to £300, can reach out to the Winter Fuel Payment Centre starting January 28.
For those required to file a self-assessment tax return, the online submission deadline is January 31 for the 2024/25 tax year. Missing this deadline incurs a minimum fine of £100, regardless of tax liability. Furthermore, alcohol duty will rise by 3.66% from February.
The Bank of England will convene on February 5 to discuss potential interest rate adjustments. The base rate, currently at 4%, influences borrowing costs and savings interest rates. The Household Support Fund is set to conclude on March 31, providing financial aid to struggling residents through grants and vouchers.
From April 2026, the two-child benefit cap will be lifted, allowing low-income families to claim additional benefits beyond their second child. Minimum wage increases will take effect in April, with higher rates for different age brackets. Council tax bills in England may rise by up to 5% in April, and the TV licence fee typically sees an annual increase.
Water bills are expected to rise in April, following Ofwat’s approval for a 36% average bill hike by 2030. Car tax rates, which usually adjust annually in April, will see changes based on RPI inflation. The current tax year ends on April 5, resetting tax allowances for the upcoming year.
Benefit rates will rise by 3.8% from April 6, with Universal Credit and state pension receiving higher increments. Inheritance tax adjustments for farmers will be implemented in April, with a new cap on inherited agricultural assets.
Moreover, new regulations governing price displays in shops will be enforced, promoting transparent pricing comparisons. Tax relief claims for extra household expenses while working from home will cease from April 2026.
Starting July 15, 2026, buy now, pay later schemes will be fully regulated by the Financial Conduct Authority. The maximum annual university tuition fees in England will rise with inflation to £9,535. Fuel duty rates introduced in March 2022 will revert to normal levels by September 2026.
In September 2026, free school meal eligibility will extend to all children in England with parents receiving Universal Credit. A new duty on vaping products will be enforced in October 2026, with potential tobacco duty adjustments following in November. Self-assessment tax registration deadlines are in October, varying based on submission method.
Finally, if filing a paper tax return, the deadline is October 31, with online submissions due by January 31 the following year. Stay informed and plan ahead for these upcoming financial changes in 2026.