A lot is due to happen in 2019 – not least the PPI claims deadline on August 29th – covering everything from how much tax you’re charged, what you’re paid in benefits and how to switch mobile phone providers.
Commenting on the busy year ahead, personal finance analyst, Sarah Coles, said: “By the end of 2019, we could have an emergency Budget, another raft of new ministers, or even another election.
“However, even this level of uncertainty doesn’t throw a spanner in the financial planning works entirely. There are key dates we can look forward to and sensibly plan for – from the PPI claims deadline to new dawning of broadband rights.”
So here are some of the special events in the year for your diary:
Energy price cap
The Ofgem price cap starts on January 1st and suppliers can only charge a maximum of £1,137 a year for dual fuel customers.
A customer on a standard tariff will save £76 a year, but anyone on the pricier tariffs could save as much as £120.
Train prices up
From January 2nd regulated rail prices are set to rise by 3.1% for travellers and commuters.
The move will add £148 for a season ticket from Brighton to London, £130 from Gloucester to Birmingham and £100 from Manchester to Liverpool.
Millennium National Rail Card roll-out
A new Millennium Rail Card for 26 to 30 year olds will roll out nationally on January 2nd.
The digital card, costing £30, will save a third on all rail journeys across the UK, excluding season tickets, with a minimum fare of £12 at peak times.
Better broadband speed guaranteed
From March 1st broadband providers will have provide a minimum guaranteed speed at the point of sale.
If the speed drops below the advertised level the supplier has a month to fix it before customers can quit the deal without penalty.
Tax allowances and thresholds
Your personal tax free allowance will be rising from £11,850 to £12,500 on April 6, 2019 – an extra £130 a year in your pocket.
Anyone earning more than £46,350 will get an even bigger windfall with the 40% tax threshold being raised to £50,000.
Minimum wage rates rise
Minimum wage rates will rise with people of school age under 18 getting £4.35 an hour instead of £4.20. The rate for anyone 18-20 rises from £5,90 to £6.15 and from 21-24 the rate goes up from £7.38 to £7.70. The over 25s will get a rise from £7.83 to £8.21.
Minimum rates for apprentices are also rising from £3.70 an hour to £3.90 provided they are under 19 and in the first year of their apprenticeship.
State pensions to go up
The basic State Pension and new State Pension increase by 2.6% from April 6th 2019, a cash increase of £3.25 a week and £4.25 a week respectively.
This means those on the basic State Pension will be getting an extra £164 a year and those on the new State Pension will end up £213 a year better off.
But you will have to be older to qualify for a state pension
From 2019 the qualification age will start rising for both men and women and by October 2020 you will need to be 66 to qualify, rising to 67 between 2026 and 2028.
The government have also introduced a review process every five years after that.
More money in works pensions
Minimum contributions for the new auto-enrolment pension schemes will start to rise from April. Currently workers contribute 3% of their basic salary, topped up by another 2% from their employer.
From April the employee contribution will rise to 5% with the employer contribution going up to 3%.
Tax free lifetime savings allowance
Your lifetime allowance for tax free pension saving will rise to £1,055,000 in 2019-20
Council tax rises
From April there will be rises of up to 4.99% on council tax bills plus a potential additional charge of £24 per home for police.
Analysts believe the rises could add £65 to the average bill for a Band D home, currently £1,671 a year.
Universal Credit changes
The controversial Universal Credit has come in for considerable criticism already, but in April the amount that households with children and those with disabilities can earn is to go up by £1,000.
Experts have calculated around 2.4 million people will be able to keep an extra £630 a year.
Payslips for all
From April 6th everyone will have the legal right to a payslip, including non-employees like freelancers or contractors.
Employers must also include actual hours worked on payslips for anyone with variable hours.
National Insurance threshold changes
After £8,632 of earnings you will end up paying 12% of your salary up until you earn more than £50,024.
That means anyone earning less than £46,834 a year is a few quid better off.
New rules for mobile switching
From July 1st mobile phone providers must make switching suppliers easier.
Charges for notice periods will be banned and swapping by sending a text message comes into force.
PPI claims deadline
The PPI claims deadline is August 29th and anyone who has not submitted a claim to the lender before that date will have lost the chance forever.
The only exception is appealing a case to the Financial Ombudsman Service (FOS) if it has previously been rejected, as long as it is appealed within 6 months of the date of the lender’s rejection letter.
End of Help To Buy ISAs
After November 30th you will not be able to open a new Help To Buy ISA though you can continue to pay into an existing one.
New savers will be able to invest into a lifetime ISA, but they work differently.