From benefit payment date changes to energy bill updates, these are the key money changes in August parents need to be aware of.
There are a number of money changes in August that will affect families. From the deadline to extend Child Benefit for parents of teens, to when you need to apply for free childcare for preschoolers, here’s what you need to know. 1. Monday 5 and 26 August – benefit payment date changes If you receive benefits from the Department for Work and Pensions or HMRC, your payment date could change this month.
Currently the Ofgem price cap is £1,568 a year. This is the average amount a dual fuel household, paying by direct debit, pays for their energy bills. Analysts at Cornwall Insight predict this could rise to £1,723.It’s important to know, though, that the energy price cap isn’t a limit on how much you can be charged. Instead it’s a limit on the unit rates for gas and electricity, plus standing charges, that a supplier can charge.
Child Benefit automatically stops on the 31 August after your child turns 16. This means the benefit could end for 1.4 million parents at the end of this month. But if your child is continuing in education or on an approved training course, you can still claim Child Benefit until they reach 20.
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