February brings a fresh start for wallets post-payday with notable financial adjustments to note. Expect an increase in alcohol prices and reduced savings rates for Nationwide customers. Self-assessment taxpayers missing the January 31 deadline face immediate £100 fines starting today.
This month will feature regular updates on inflation and interest rates. Alcohol duty will rise by 3.66%, impacting prices on various beverages. Failure to file tax returns on time incurs penalties escalating up to £900. Bank of England’s first 2026 meeting on February 5 will determine future interest rates, currently at 3.75%.
Nationwide plans to lower rates on 36 savings accounts from February 10 in response to the base rate cut. Sky Mobile subscribers will see a £1.50 monthly bill increase from February 14. On February 18, the Office for National Statistics will release the latest inflation data, currently at 3.4%.
Customers facing smart meter installation delays may receive £40 compensation starting February 23. Stay updated on financial changes and news by joining our Money WhatsApp group or subscribing to Mirror’s Money newsletter for exclusive deals and advice.