DWP money and financial changes coming in September including Universal Credit change and inflation

Brits will see a series of major economic changes throughout September that could affect their personal finances.

Some of the changes being implemented will primarily affect billpayers and students starting their term in autumn. Key announcements included in September include a new energy price cap, the inflation rate for the year, and a potential increase to the Bank of England's interest rate again.

Benefit claimants will also be subjected to some changes from the Department for Work and Pensions (DWP) which could see their benefit payments affected depending on their unique situation. To help keep you and your finances prepared, we've broken down all the major money changes coming throughout September.

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PayPal will begin charging customers more interest for every £500 borrowed through its credit service. The financial giant will raise its lowest APR from 21.9 per cent to 23.9 per cent.

Universal Credit claimants will see a few changes throughout September that could affect their financial situation. Firstly, the DWP will rollout the "managed migration" process to all regions across the country - this will see those on older benefits officially switch to Universal Credit.

The department aims to have most claimants moved to Universal Credit by the end of the 2024/25 financial year. However, this doesn't include roughly 800,000 claimants on Employment and Support who have been given a longer deadline of 2028/29.

Secondly, claimants in the 'light touch' work group (those working over 15 hours a week at National Living Wage without full time hours)