April Fools Day - Tax Retriever

April Fools Day

Jokes aside…

1st April has now been dubbed ‘National Price Hike Day’ after increased costs on many everyday items and services came into effect.

TV licences, prescriptions and utility bills and are just some of the things that have increased in price, while people were distracted by online jokes and pranks.

Money experts have warned people’s wallets will take a beating.

Here are a few price hikes:

TV licences: The price of watching television has increased by £1.50 to £147.

NHS Prescriptions: Standard prescriptions will go up 20p from £8.40 to £8.60.

Council tax: Increases will vary between authorities but some bills could rise as much as five per cent.

Water bills: Households in England and Wales will be charged an average £395 for their water and sewerage over the coming year – an increase of £6.

Car tax: Vehicle Excise Duty, a tax placed on car purchases, will now apply to small cars with lower CO2 emissions.

Mobile phone bills: Three networks are hiking charges. EE customers will see a 2.5 per cent rise and O2 customers will have a 2.6 per cent increase. Furthermore, Vodafone customers who signed up after 5 May 2016 will be subject to a 3.2 per cent price rise, also because of RPI.

Postage stamps: First class stamps will cost a penny more, bringing them to 65p.

Energy bills: The Co-op is increasing the cost of its standard variable tariff by an average of five per cent from 1 April, adding an estimated £58 a year to bills.

Scottish Power has also announced that from the end of March, standard dual fuel prices will increase by an average of 7.8 per cent.

NPower has hiked gas and electricity prices by 9.8 per cent – a move adding around £109 to annual dual fuel bills.

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