February 2026 brings a number of necessary monetary updates and deadlines that would affect family budgets. From rising alcohol duties to penalties for late tax filings and changes in financial savings charges, staying knowledgeable helps navigate these adjustments successfully. Key bulletins on inflation and rates of interest additionally loom on the horizon.
February 1: Alcohol Responsibility Improve
Alcohol duties rise by 3.66% beginning February 1, aligning with Retail Worth Index inflation. This adjustment provides 11p to a bottle of 11% ABV Prosecco, 14p to a 14.5% ABV bottle of purple wine, and 38p to a 37.5% ABV bottle of gin, primarily based on knowledge from the Wine and Spirit Commerce Affiliation.
February 1: Self-Evaluation Tax Penalties Start
Self-assessment taxpayers who missed the January 31 submitting deadline face a direct £100 wonderful from February 1. Penalties escalate to £10 per day after three months, capping at £900, adopted by 5% of owed tax or £300—whichever is greater—after six months, repeating after 12 months. Curiosity accrues on any unpaid taxes due by January 31.
February 5: Financial institution of England Curiosity Price Choice
The Financial institution of England holds its first financial coverage assembly of 2026 on February 5 to assessment the bottom price, presently at 3.75%. This price impacts borrowing prices and financial savings returns. The committee convenes each six weeks to regulate as wanted.
February 10: Nationwide Reduces Financial savings Charges
Nationwide Constructing Society cuts rates of interest on 36 financial savings merchandise efficient February 10, responding to the latest base price drop to three.75%. Affected accounts embody easy-access choices, ISAs, and youngsters’s financial savings.
February 14: Sky Cellular Worth Changes
Sky Cellular raises costs from February 14, with most prospects seeing a £1.50 month-to-month enhance, totaling £18 yearly. Variations might apply, leading to greater or decrease payments for some customers.
February 18: Newest Inflation Figures Launched
The Workplace for Nationwide Statistics publishes up to date inflation knowledge on February 18. At the moment at 3.4%, inflation tracks value adjustments over time, with the Financial institution of England’s goal set at 2%.
February 23: Good Meter Compensation Accessible
From February 23, prospects experiencing good meter delays or set up points qualify for £40 compensation. This covers waits exceeding six weeks, provider faults inflicting failed appointments, or unresolved points with no plan inside 5 working days.
Fast Cash-Saving Ideas
To offset potential rises, contemplate these methods: A John Lewis promotion provides Elemis merchandise for 41p. Electrical blankets run at simply 1p per use for cozy heat. De-icing devices, now £6, velocity up automobile prep. A £10 Amazon device prevents slips on ice.
