Key Day-To-Day Financial Changes To Watch In 2019

As 2019 swings into action, the UK’s financial situation is a growing concern. In light of 2019’s new budget and the uncertainty surrounding Brexit, a number of day-to-day financial matters are changing. As a result, this is causing unrest both within financial industries and for families across the UK.

Energy Price Cap

Perhaps the biggest change to affect every family in the UK is that of the new Energy Price Cap. Ofgem, the government’s regulator for gas and electricity markets, introduced a new limit for dual fuel bills of £1,137. For families on stricter budgets, particularly those turning to online loans in the face of rising bills, this could come as a relief.

However, for those who have good deals from their supplier, this could cause more harm than it solves. Due to this cap, companies are likely to try to cover the lost money by eliminating some of the better value packages or discounts they currently offer, meaning that those currently benefiting from these could see their bills rise.

Pension Changes (contributions, state pension etc)

Pensions are also facing changes in 2019, with both the required contributions and the state pensions set to rise. For those still of working age, the 6th April this year will see the pension contributions rise from 3% of pay to 5%. As a result, paycheques are likely to shrink this year.

For those already on their pensions or close to the required age, however, the amount available from the government will rise by 2.6%. In short, the basic state pension will reach £129.20, and the flat-rate pension will reach £168.20.

financial changes to watch

Rail Fares (+ Railcard)

The public transport industry has also seen changes this month, with rail fares increasing by 3.1% on January 2nd. For commuters utilising the country’s rail services, season tickets, off-peak returns and walk-up anytime fares are the most widely affected.

However, January 2nd also saw the introduction of a new discount option: the 26-30 Railcard. As with the 16-25 railcard, this will offer a third off of singles, returns, advance tickets and Oyster fares. This won’t be valid on peak fares below £12, or on season tickets, so regular travellers won’t benefit from this new addition.

Inheritance Tax

While the changes to inheritance tax won’t affect everyone, the nil rate band will be increasing in April 2019. The nil rate band refers to the amount of money an estate must be worth before inheritance tax can be charged.

The tax-free amount currently sits at £325,000 and while this isn’t set to change, the additional £125,000 available when a home is passed on to a direct descendant will rise to £150,000. For homeowners looking to pass on their property to a spouse or relative after their death, this is a radical change worth investigating before April rolls around.

With a number of financial changes already underway and others on the near horizon, the New Year is already shifting the way money is managed. With further changes to ‘Help To Buy’ ISAs, crackdowns on Buy-to-Let tax relief and adjustments to tax-free personal allowances, there is plenty to watch in 2019.

Hot this week

Did David Wineland and Serge Haroche Steal Idea For The Nobel Physics Prize?

Dr. Omerbashich says the Royal Swedish Academy is a Crime Scene and he has the proof that Nobel laureates stole his discovery.

New Approaches to Disaster Relief Challenges

Disaster relief has always been a challenge. NASA, Google,...

3 Legitimate Money Making Methods to Supplement Your Income

In a perfect world, when your landlord raises your...

2016 Predictions by World Renowned Medium and Psychic Lindy Baker

World renowned medium and psychic Lindy Baker is interviewed by The Hollywood Sentinel, discussing psychic power, the spirit world, life after death, areas of concern in 2016, and much more.

Digital Coupon Customers Spending More Than Double At Stores

A new study shows that customers who use digital coupons go shopping more for groceries and other household goods more often and spend more on their shopping trips.

Don’t Let’s Go To The Dogs Tonight – a South African Memoir

The war began in 1964. Don’t Let’s Go to the Dogs Tonight is set in the summer of ‘79, just before an election, with white minority rule under threat.

With Republicans in Power, Firearms Rights Advocates Push to Reform Gun Laws

Gun Owners of America, a gun rights lobby, joined...

Israel Film Festival (IFF)-June 6, 2025 Prelude Luncheon

While the world antagonizes Israel, currently fighting an existential war, the Israel Film Festival (IFF) proudly held its annual sponsor luncheon.

Unibeam Secures $6M to Replace Vulnerable SMS OTPs with SIM-Based Authentication

In a bold move to redefine digital authentication, Israeli...

Can A Boiler Explode

Boiler explosions sound like something out of a disaster...

Not In Our Backyard Say Illinoisians of a Proposed New Slaughterhouse

Does anything separate rural and urban communities more than...

Native American Celebration in the Shadow of New York Mascot Name-Change Lunacy

On June 1st, 2025, Lotus Music & Dance hosted the 23rd Drums Along the Hudson Pow Wow native american celebration at Inwood Hill Park

Related Articles

Popular Categories