April 13, 2024

9 money changes coming in March – including rail fare rise and cost of living deadlines

We round up all the money changes coming up this month, including the Budget, rail fare increases and all the financial schemes that are closing like the Warm Home Discount

There are plenty of money changes coming in March(Getty Images)

March is set to be a big month for your finances, with the Budget delivered by Jeremy Hunt to take centre stage.

The Chancellor will deliver his fiscal plan next week, where we will find out if any further tax cuts will be delivered. There are also rumours of more help for first time buyers, while we may also see changes to stamp duty and inheritance tax. We won’t know exactly what will be unveiled until the Chancellor makes his speech.

In worse news for commuting Brits, rail fares will go up this month, while we’ll also have monthly inflation figures and the next Bank of England interest rates announcement. There are key schemes closing this month as well, including the Household Support Fund and Warm Home Discount. Here is everything you need to know.

March 3 – Rail fares going up 4.9%

Regulated rail fares in England will increase by up to 4.9% from March 3. This includes season tickets on most commuter journeys, some off-peak return tickets on long distance routes and flexible tickets for travel around major cities.

It follows a 5.9% rise in rail fares last March. To save money on train travel, try to book your tickets as far in advance as possible and see if you could benefit from a railcard. It may also be worth looking at flexi or weekly, monthly or annual tickets, depending on how often you travel.

March 5 – Deadline to backdate benefit claim for £299 cost of living payment

Thousands of households should check their eligibility for Pension Credit by March 5 so they can then get the £299 cost of living payment. You can backdate Pension Credit by three months.

Pension Credit is available to people who have reached state pension age and are on a low income. It tops up your income to £201.05 per week for single people and to £306.85 for couples, and also unlocks over benefits such as free TV licences for over-75s and council tax discounts.

If you can’t see the poll, click here

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *


Get our latest downloads and information first.
Complete the form below to subscribe to our weekly newsletter.

100% secure your website.