A number of financial changes will be taking place next month, including changes to interest rates and inflation. Thousands of people across the UK are still struggling with the cost of living crisis, and it was announced on Friday, August 25, by Ofgem that the energy price cap will be £1,923 for the three months beginning in October.
The exact date of when the money will be paid hasn't yet been confirmed, although it should be confirmed in Autumn. This means an updated announcement could be made in September. Universal credit changes The DWP will also be making changes for people calling about new or existing Universal Credit claims. It will change to an automated conversational platform involving a virtual agent to answer simple questions rather than callers having to press the keypad for specific menu choices.
Child benefit payments stop on August 31 after a child turns 16 but parents and guardians can instantly extend their claim if their child is continuing in approved education or training. It’s quick and easy to update your claim through the online service at GOV.UK or the HMRC app but people are being warned they may see delays in getting their money or have it stopped altogether if they don't do so before September.