A number of changes will be made to benefits and monetary policies from July, which could have a direct impact on people's personal finances. Some of the changes being rolled out in July include a new deadline for cash boost payments for more than six million people across the UK.
Other changes include a major price change to energy bills, and an overhaul to how stamps will be working for the foreseeable future reports Manchester Evening News. We have rounded up the biggest changes to be aware of next month, and how you might be impacted.
July 1 to 31 - Regular benefit payments
There should be no disruptions to regular benefit payments in July, including Universal Credit payments. This is because there are no bank holidays in July that could mess up schedule like there have been in the past few months.
Regular DWP payments will be sent out for the following benefits:
- Income Support
- Carer's Allowance
- Attendance Allowance
- Universal Credit
- State Pension
- Pension Credit
- Disability Living Allowance
- Employment Support Allowance
If you are concerned over any issues with your benefit payments in July, your first point of contact should be the DWP.
July 1 - New energy price cap
From Saturday, July 1, Ofgem's new price cap will come into effect. It means the average household will be charged £2,074 a year for energy, but this depends on how much energy your household typically uses.
If you took on a fixed rate in the past year when energy bills were dramatically high, you may have seen subsidies on your bill via the EPG. From July 1, that subsidy will be reduced to zero which means you will pay the original price of your fixed rate.
July 4 - Deadline for Disability Cost of Living Payment
Since June 20, the DWP has been issuing a £150 cash boost to eligible disability benefit claimants. The official deadline for the payment window is July 4, however some payments will be made after this.
This will generally happen in cases where claimants are still awaiting confirmation of their eligibility or entitlement to a qualifying disability benefit such as Disability Living Allowance. Secretary of State for Work and Pensions, Mel Stride MP, said: “Tackling high inflation remains our priority as this is the best way we can ease pressure on households and help them with the cost of living.
"By paying more than six million disabled people £150 in less than a week, we are delivering on our steadfast commitment to providing timely support for those who need it most."
July 5 - Applications open for missed Cost of Living Payments
From Wednesday, July 5, the government has confirmed that anyone expecting a payment who hasn't received it within the two-week window can report a missing Disability Cost of Living Payment to the DWP. Minister for Disabled People, Health and Work, Tom Pursglove MP, said: “We are ensuring that disabled people facing additional costs can access these extra funds as soon as possible, and I’m delighted the vast majority of payments have been successfully made to eligible people within just five working days.
"This will be backed up by further cost of living payments for benefit claimants in the coming months, showing this government’s commitment to providing millions in support for the most vulnerable in our society.”
July 31- Deadline for stamps without barcodes
Postal customers have until the end of July to use up their traditional stamps. After this they will become invalid and completely replaced by stamps featuring barcodes. Whilst the stamps cannot be used after this, an end date for swapping the stamps for newer versions has not been announced so you won't be completely left out of pocket.
