April Changes: National Living Wage, ISAs and Energy
Is there still time to boost your tax-free savings - and what's changing this year?
April brings many changes for our money, and this programme has all you need to know.
From Monday 1st, there will be higher pay for people on the various minimum wages. For the first time 21 and 22 year olds join people aged 23 and over in getting what's called the National Living Wage. It's going up to 拢11.44 an hour, a near 10% rise. 18 to 20 year olds get a bigger boost with minimum wage up nearly 15% to 拢8.60 an hour, while 16 and 17 year olds and those on apprenticeships get the largest increase of more than 21%, taking their minimum hourly pay to 拢6.40.
On the same day, the Energy Price Cap set by the regulator Ofgem will fall reducing the typical annual bill in England, Scotland, and Wales by 12% to 拢1,690 per year. That is the lowest it has been for two years. So will it be worth switching suppliers for a new fixed deal?
It's 25 years since the introduction of tax-free ISAs. You have just a few days to make use of this year's allowance and there are some big changes next tax year. we鈥檝e got all you need to know.
Plus, what鈥檚 changing next week for childcare, why some people need to do a meter reading, and how to save money on stamps.
Presenter: Paul Lewis
Reporter: Dan Whitworth
Researchers: Sandra Hardial and Jo Krasner
Editor: Jess Quayle
(First broadcast 12pm Saturday 30th March 2024)
Last on
More episodes
Broadcasts
- Sat 30 Mar 2024 12:04麻豆社 Radio 4
- Sun 31 Mar 2024 21:00麻豆社 Radio 4
Download this programme
Subscribe to this programme or download individual episodes.
Podcast
-
Money Box
The latest news from the world of personal finance