The Mirror has compiled a list of significant financial updates for May, ranging from new protections for renters to upcoming changes in energy bills. Among the key changes are penalties of £10 per day for self-employed taxpayers who missed the self-assessment deadline and the potential payout of a fourth £100 Fairer Share bonus from Nationwide. Additionally, inflation updates, early benefit payments due to bank holidays, and alterations in eviction policies are expected.

Starting May 1, 2026, the Renters’ Rights Act 2025 will grant additional rights to renters, eliminating “no-fault” evictions under Section 21. Landlords will still have the authority to evict tenants for valid reasons, such as property sale or rent arrears. Changes in eviction criteria and tenancy terms are also outlined, including enhanced pet rights and limitations on rent hikes.

Individuals who missed the self-assessment deadline will face daily fines starting May 1. Benefit recipients can anticipate early payments in May due to two bank holidays. The Office for National Statistics will release inflation data on May 20, reflecting a rise to 3.3%. Nationwide is set to disclose details on potential Fairer Share bonuses on May 21. Ofgem will unveil a new energy price cap by May 27, affecting household expenses starting July 1. Employers must issue P60 forms by May 31 for tax and income verification purposes.

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