Ever missed a tax deadline and faced penalties, or paid more on your bills simply because you weren’t prepared for rate hikes?
These are the hidden costs of forgetting important financial dates. In 2025, keeping track of tax deadlines, ISA allowances, and potential bill increases will help you save hundreds and stay ahead of financial changes.
This post covers the most important dates to help you plan wisely and avoid common financial setbacks.
Why Should You Keep Track of Financial Dates?
Whether you’re employed, self-employed, or receiving benefits, keeping track of financial deadlines ensures you avoid penalties and plan for upcoming expenses. It also helps you take advantage of savings opportunities like ISAs and support schemes. Knowing key dates protects you from setbacks, highlights opportunities, and strengthens your financial control.
Q1: January to March – Start the Year Strong
The beginning of the year often starts with adjustments affecting your bills, taxes, and travel.
1 January: Energy and Bus Fare Caps Adjust
Energy price caps will raise average annual bills by £21, while single bus fares will increase from £2 to £3. Consider switching to a fixed-rate energy plan to protect against further hikes. For commuters, a season ticket or travel pass might reduce long-term costs.
31 January: Self-Assessment Online Tax Return Deadline
If you’re self-employed or have additional income, this is your first big deadline of the year. Your 2023-24 tax return must be filed online by midnight on 31 January, and any owed tax must also be paid. Act early by setting reminders and gathering documents ahead of time to avoid last-minute stress.
6 February: First Base Rate Decision
The Bank of England will announce the year’s first base rate decision, potentially affecting variable-rate mortgages. Review your mortgage terms and consider whether a fixed-rate plan might offer more stability. Check savings account rates to ensure you’re earning competitive interest.
2 March: Train Fare Hikes
Rail fares are increasing by 4.6%, while most railcards will cost £5 more. If you rely on trains, this could add up fast. Invest in a railcard if you don’t already have one. Even with the price hike, it pays for itself if you’re a regular traveller.
31 March: Stamp Duty Relief Ends
First-time buyers and home movers should act fast—stamp duty thresholds will drop back to their pre-2022 levels after this date. This could add thousands to your house-buying costs. If you’re house hunting, aim to close your deal by 31 March.
Q2: April to June – A Season of Change
Spring often brings financial adjustments that impact households and businesses alike.
1 April: Rising Bills and Wages
Council tax, water bills, and TV licenses are going up, but the National Living Wage will rise to £12.21 per hour for workers aged 21 and older. Review your monthly expenses and identify areas to cut back. For example, you could switch to a streaming service instead of paying for cable or reduce your water usage to lower bills.
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5 April: ISA Allowance Deadline
Your tax-free ISA allowance resets every April, and any unused amount doesn’t roll over. Adults can save up to £20,000 tax-free annually, while Junior ISAs allow up to £9,000. Make the most of your allowance by exploring Clockwise ISA options—whether for an emergency fund or a big financial goal.
6 April: Start of the New Tax Year
The new tax year comes with updates to pensions and benefits. Pensioners gain an extra £472 via the triple lock, and the expanded Help to Save scheme offers a 50% bonus to qualifying savers. If eligible, sign up for Help to Save—it’s a simple way to boost your financial security.
30 June: Mortgage Guarantee Scheme Closes
The government’s mortgage guarantee scheme will end, potentially affecting those with smaller deposits. If you’re planning to buy, explore your options early to secure a deal under this scheme before it closes.
Q3: July to September – Mid-Year Momentum
Summer is a great time to check your progress and make adjustments for what’s ahead.
31 July: Second Self-Assessment Payment on Account
Self-employed individuals must make their second payment on account by this deadline. If there’s a drop in income compared to the previous year, consult HMRC or a tax professional to adjust your payment.
1 September: Free Childcare Rollout
Parents of children under five will finally benefit from 30 hours of free childcare weekly, reducing costs and potentially saving families thousands each year. Consider how you can use these savings. Could they go into an ISA or a college fund? Planning ahead now could set your child up for success.
Q4: October to December – Preparing for the Future
The final quarter of the year is all about closing financial loops and preparing for 2026.
1 October: Energy Price Cap Update
The energy price cap adjusts again. While predictions vary, this could mean higher bills. Start exploring energy-saving options now—smart thermostats, draft-proofing, and fixed-rate plans are worth considering.
5 October: Self-Assessment Registration Deadline
First-time self-assessment filers must register with HMRC by this date. Early registration helps ensure that you have enough time to gather documents and complete the process.
31 October: Paper Tax Return Deadline
For those who prefer filing on paper rather than online, this is your deadline to submit your self-assessment tax return to HMRC. Double-check all calculations before submitting. Mistakes can lead to delays or penalties.
24 December: Early Benefits Payment
The Department for Work and Pensions (DWP) and HMRC will pay benefits like Universal Credit, Child Benefit, and Tax Credits early on December 24 for recipients scheduled to receive them on December 25, 26, or 27. Plan your budget carefully, as this early payment results in a longer gap before your next deposit.
Stay Prepared All Year Long
Tracking financial dates can be overwhelming, but simple strategies can help. Automate savings through direct debits, maximise ISA contributions before deadlines and set calendar alerts to keep track. Proactive planning helps you avoid stress, seize opportunities, and maximise your money in 2025.
