Six family payments are set to rise within the coming months – with Britons already feeling the pinch anticipated to face sky-high prices.
Dubbed ‘terrible April’, struggling households can brace to pay a whole bunch extra in utilities. Whereas three of the UK’s largest water companies have urged regulators to permit them to cost clients much more than beforehand agreed.
It comes as Ofgem elevated its worth cap for a 3rd consecutive quarter.
1. Water payments
Water payments will go up for a median of £123 or 26 per cent annual rise from April, confirmed by trade physique Water UK
The rise will take the typical invoice from £480 to £603 for the following 12 months alone – an increase of round £10 a month, from £40 to £50.
Southern Water clients would be the worst-hit after being informed they’ll see a 47 per cent enhance, taking the typical yearly invoice with the corporate to £703.
Hafren Dyfrdwy and South West Water payments are rising by 32 per cent, whereas Thames Water clients will implement a 31 per cent hike.
Six family payments are set to rise in ‘terrible April’ as Brits feeling the pinch should face sky-high prices (inventory)
Virtually 9 in 10 native authorities in England are planning to hike council tax by at the very least 4.99 per cent from April (inventory)
Yorkshire Water is elevating payments by 29 per cent, and Bournemouth Water clients will see a 32 per cent enhance.
Different elements, resembling whether or not a buyer is metered and the way a lot water they use, means the invoice modifications will differ for purchasers relying on their circumstances.
Whereas in Scotland, water payments are anticipated to rise on the decrease finish at 10 per cent. Scottish Water, which is a public physique, mentioned spending was wanted to deal with durations of ‘drought and intense rainfall’ introduced on by local weather change.
Water corporations in England and Wales have mentioned the will increase are wanted to spend money on infrastructure, together with sewage, and to construct extra reservoirs.
2. Power payments
The common power invoice for a dual-fuel dwelling paying by direct debit will enhance from £1,738-a-year to £1,849 from April 1 after a 6.4 per cent enhance in Ofgem’s power worth cap.
The rise will equate to £111 for a median family per 12 months, or round £9.25 a month, over the three-month interval of the value cap from April 1 to June 30.
It follows a earlier 1.2 per cent rise of £21 for the January 1 to March 31 interval.
Regulator Ofgem elevated the power worth cap due to increased wholesale prices and inflation.
Greg Marsh, CEO and co-founder of AI family money-saver Nous.co informed MailOnline that households ought to take a meter studying earlier than March 31 so your provider does not cost you for any additional power beneath the brand new increased charges.
He added one other strategy to save prices is to take handbook reads as estimates from the provider may very well be incorrect, forcing you to fork out extra.
The power worth cap units a most worth that power corporations can cost individuals in England, Scotland and Wales for every unit of power they use.
Ofgem modifications the value cap for households each three months.
3. Council tax
Virtually 9 in 10 native authorities in England are planning to hike council tax by at the very least 4.99 per cent from April.
Many councils have been just lately granted permission to extend council tax past the established annual 4.99 per cent cap with out having to carry a neighborhood vote.
They’re Windsor & Maidenhead, Newham, Bradford, Birmingham, Somerset, and Trafford.
Among the many six councils permitted will increase past regular thresholds, Windsor & Maidenhead Borough Council had a request to be allowed a 25 per cent enhance rejected – however will have the ability to impose a 8.99 per cent rise.
Newham Council in east London has been granted the identical dispensation, whereas Bradford Council is being permitted 9.99 per cent.
Birmingham Metropolis Council, Somerset Council and Trafford Council can enhance the levy by 7.49 per cent.
Simply 15 councils are planning will increase under 4.99 per cent, with ranges starting from 4.98 per cent in Barnet and Warrington, to 2 per cent
Council tax charges in Scotland have been frozen or had restricted will increase since 2007, however they’re anticipated to go up in April by as a lot as 10 per cent.
In Wales, council tax charges may bounce by as a lot 15 per cent.
4. Automotive tax
Thousands and thousands of drivers might be slapped with an enormous automotive tax coming into drive in April that can see some motorists stung a further £2,745, new analysis has recommended.
The usual charge of tax for vehicles registered after April 2017 will rise from £5 to £195 a 12 months.
Virtually 9 in 10 native authorities in England are planning to hike council tax by at the very least 4.99 per cent from April
Automotive tax modifications launched in April will see the price of first-year Car Excise Obligation for all new petrol and diesel fashions double, stinging probably the most polluting vehicles with an annual cost as excessive as £5,490.
The tax raid on new combustion engine motors was confirmed in Rachel Reeves’ Finances in October.
The Chancellor mentioned VED first-year charges for vehicles registered after 1 April 2025 might be adjusted to ‘strengthen incentives to buy zero emission and electrical vehicles,
Nonetheless, electrical automobile homeowners will not be exempt from taxes. registered from April 2025 can pay the bottom charge of £10 within the first 12 months, then transfer to the usual charge.
Not solely will all EV homeowners face first-year showroom tax on new fashions and a normal charge thereafter, any new battery-powered mannequin registered after 1 April that’s priced above £40,000 will even be topic to the ‘costly automotive complement’.
It has been known as the ‘Tesla tax’ as a result of no automobiles offered by the American EV-maker are priced under the complement’s threshold.
5. Broadband, cellphone and TV license
The BBC TV licence payment will enhance by £5 or 2.9 per cent from £169.50 to £174.50 subsequent April.
The BBC TV licence payment will enhance by £5 or 2.9 per cent from £169.50 to £174.50 subsequent April.
The second consecutive annual rise follows a 6.6 per cent or £10.50 enhance from £159 which got here on this April, primarily based on the inflation determine for September 2023.
The annual value of a black and white TV licence will rise to £58.50, up 2.6 per cent from £57.
Telecoms regulator launched new guidelines this 12 months that imply cell and broadband suppliers should inform clients the precise worth of any hikes.
Underneath the brand new rule change, somebody with a cell Sim solely contract with EE will see their invoice go up by £1.50 a month, or £18 a 12 months.
However for many who took their contract out earlier than 10 April 2024, they’ll face a rise of 6.4 per cent, plus a further cost.
Most Virgin Media broadband clients will face a 7.5 per cent rise in payments, however for purchasers who took out a contract after 9 January this 12 months, their month-to-month invoice will go up by £3.50.
6. Stamp obligation
Consumers have solely two months till they’ll must stump up probably hundreds of kilos additional in stamp obligation as Labour enforces one other tax hike.
Stamp obligation shouldn’t be payable on the primary £250,000 of a property, however home patrons should begin paying the tax on £125,000 in April.
For first-time patrons, the edge might be lowered from £425,000 to £300,000.
Whereas first-time patrons in London face paying an additional £6,250 in stamp obligation, property specialists have warned.
It comes as home costs grew by 0.7 per cent final month to a file £299,138 – a 3 per cent rise year-on-year – in accordance with Halifax’s home worth index.
The lowered stamp obligation will probably see home hunters scramble to buy earlier than it kicks in with lower than two months left.
