Six money changes in September to be aware of – will you be impacted? | UK | News

August 26, 2025 3,787

August will soon draw to a close and with the beginning of a new month comes a wave of new money changes that will hit your wallet very soon. Some of the changes could have a big impact on your finances.

There is good news for parents who will receive a £7,500 boost whilst bank customers will be hit with major blows. The changes come ahead of the Budget in October from Labour’s Chancellor Rachel Reeves, who is reportedly mulling a fresh tax raid as she scrambles to plug a £20 billion black hole in the budget.

Reeves could extend the freeze on income tax thresholds, thereby pushing people into higher brackets if wages increase – known as fiscal drag. By freezing the thresholds instead of bringing them in line with the cost of living, workers are left with a potential stealth tax on their earnings.

We have gathered all the key dates you need to be aware of so you can check if you will be impacted:

September 1: Childcare boost for parents

Parents with children aged between nine months and four years old will be able to access 30 hours of free childcare a week from September 1 – up from the current threshold of 15 hours.

You must be earning the equivalent of the national minimum wage for 16 hours a week, on average, but less than £100,000 a year, to qualify for free childcare.

You must send in your application by August 31 if you want to receive the funding by the start of the 2025/26 academic year.

September 1 – First Direct axes paper savings account statements

First Direct, a digital bank with over 1.9 million UK customers, is set to make a significant change to its savings accounts. From September 1, First Direct account holders will no longer receive paper savings account statements in the post.

Instead, customers will be able to view, download and print their statements using the bank’s app or online banking.

September 1 – High street bank closures

NatWest will close 26 bank branches next month, starting from September 1, with a branch in Cwmbran. While Halifax will shut 13 branches and Lloyds will close one branch.

Bank branches continue to close down at pace with hundreds already closing this year and more in the pipeline for the coming months.

September 15 – Winter Fuel Payment claim date

The majority of people who are due a Winter Fuel Payment will receive the cash, worth up to £300, automatically – but some people will need to apply.

If you do need to claim, you will be able to apply by post from September 15, or by phone from October 15. Your eligibility will be based on your age by the end of the qualifying week.

September 17 – Inflation

The Office for National Statistics will release August’s rate of inflation on September 17. Inflation is a measure of how prices have changed over time.

It comes as inflation has been creeping upwards, hitting the highest level in over 18 months in July.

In the latest update from the ONS, inflation was revealed to have risen to 3.8%. At its highest point, inflation reached 11.1% in October 2022.