From the implementation of the Renters’ Rights Act 2025 on May 1, 2026, millions of tenants will see significant changes in their rights. This act will eliminate “no-fault” Section 21 evictions, although landlords will still be able to evict for valid reasons such as property sale or rent arrears.
Under the new regulations, the threshold for issuing a Section 8 eviction due to rent arrears will increase from two to three months. Landlords planning to sell their property will need to give a four-month notice. Tenancies will become rolling on a monthly basis, allowing tenants to give a two-month notice to vacate. Additionally, renters will have more freedom regarding pets and rent increases, limited to once annually.
For those who missed the self-assessment deadline on January 31, fines of £10 per day will commence on May 1, accumulating up to £900. After six months, an additional penalty of 5% of the tax due or £300 (whichever is higher) will apply. Benefit recipients can anticipate early payments in May due to the two bank holidays, with adjustments for those scheduled to receive payments on May 4 and May 25.
The Office for National Statistics (ONS) will release the latest inflation data on May 20, reflecting a rise to 3.3%, primarily attributed to increased fuel costs from geopolitical events. Nationwide is set to reveal whether it will distribute a fourth round of £100 Fairer Share bonuses on May 21 alongside its financial results.
Ofgem will announce the new energy price cap by May 27, effective from July 1 to August 31. Current projections suggest an increase to £1,837 per year for the average dual fuel household, influenced by external factors like the Iran war. Employers are required to provide the latest P60 document summarizing income and tax deductions by May 31, crucial for tax verification and financial applications.
