Scheana Shay is standing up for her Vanderpump Rules co-stars.
27.07.2023 - 16:27 / manchestereveningnews.co.uk
A string of important financial changes will take place in August, affecting DWP payment dates and benefits.
It's important to check if your personal finances may be affected throughout the summer month so you can allocate your budget appropriately. Among the things to look out for in August is a major change to Personal Independence Payments which could affect more than three million people.
Here's a breakdown of all the changes you can expect throughout August...
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August will see a bank holiday towards the end of the month which may see some benefit claimants receive their cash on a different date than usual. The Summer Bank Holiday will take place on Monday, August 28.
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Anyone expecting a payment on this date will instead have it paid into their bank account on the previous working day - Friday, August 25. This will affect the following DWP payments:
The Bank of England will meet on August 3 to announce its review of the interest rate. Previously, the rate was increased by 0.5 percentage points, bringing the total rate to five per cent.
It is not yet clear what the Bank will decide to do, however, the rates will have a direct effect on those with a loan or a mortgage with a variable interest rate. This is because the money you pay back on these loans are decided by the current Bank base rate.
From August 1, the government will introduce a change to Alcohol Duty as announced in the previous Budget. The duty rates will increase in line with the Retail Price Index.
Furthermore, the value of Draught Relief will rise from 5 per cent to 9.2 per cent
Scheana Shay is standing up for her Vanderpump Rules co-stars.
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