In December, alongside the usual holiday expenses, there are significant financial events that could impact your finances. Expect a Christmas bonus for eligible households, along with updates on inflation and interest rates.

Various winter assistance programs, such as Cold Weather Payments and the Warm Home Discount, will extend into December. The Department for Work and Pensions (DWP) will soon distribute its annual tax-free Christmas bonus of £10 to qualifying recipients.

The latest inflation figures from the Office for National Statistics (ONS) will be revealed on December 17, with current inflation at 3.6%. The Bank of England will announce its next interest rates decision on December 18, with the current base rate at 4%, down from its peak of 5.25%.

Due to the Christmas and New Year bank holidays, benefit payments will be processed early in December. Payments scheduled for Christmas and New Year’s Day will likely be made the day before the holidays.

Self-assessment taxpayers aiming to settle their tax debts through their PAYE tax code must file their online returns by December 30. This method is applicable for taxpayers owing less than £3,000 and already paying taxes through PAYE.

Throughout December, support schemes like Cold Weather Payments, Winter Fuel Payments, and the Warm Home Discount will provide financial aid to eligible households.

Cookie and data sharing policies are in place to enhance user experience and personalize advertising across Reach and its entities. Users can manage data preferences through the provided options on the website.