Key money dates for August, plus benefit and pension payment dates

August might be a time to make the most of the summer while it lasts, but there are also some important financial dates to keep on your radar.

Whether you're self-employed, keeping an eye on rising household bills or waiting for your benefit or pension payment, knowing what's coming up can help you stay one step ahead.

Here's what you need to know this August.

7 August – Making Tax Digital quarterly update

If you're signed up to Making Tax Digital (MTD), you'll need to submit your quarterly update by 7 August.

The quarterly update covers income and expenses for the first three months of the tax year.

It’s not a tax return but a short summary sent directly to HMRC through recognised software and takes minutes to complete.

You can find out more on the government website.

19 August – Latest inflation figures released

On 19 August, the Office for National Statistics (ONS) will publish the Consumer Prices Index (CPI) inflation figure for July.

Inflation affects the cost of everyday essentials, from your weekly food shop to energy bills and transport. The latest figures also influence future decisions on interest rates, benefits and pensions, making this one of the key economic updates of the month.

26 August – Energy price cap announcement

By 26 August, Ofgem will announce the energy price cap for the period from October to December 2026.

While the price cap doesn't limit your total energy bill, it does cap the maximum amount suppliers can charge for each unit of gas and electricity if you're on a standard variable tariff.

If you're wondering how your bills could change this autumn, this announcement is one to watch.

Benefit payment dates in August

Most benefit payments will be made as normal throughout August, but there are bank holiday changes to be aware of.

England, Wales and Northern Ireland have the summer bank holiday on Monday 31 August, while Scotland's summer bank holiday falls earlier, on Monday 3 August.

If your usual payment date falls on a bank holiday, you can normally expect to receive your money on the previous working day instead.

If you're unsure when your payment is due or want to check how your benefits are paid, you can find full guidance on the government's website.

State pension payment dates

The basic state pension is usually paid every four weeks directly into your bank account.

The day you receive your payment depends on the last two digits of your national insurance number, and payments generally continue as normal unless they fall on a bank holiday. In those cases, your pension is typically paid on the previous working day.

If you're expecting a payment around one of August's bank holidays, it's worth checking your bank account a little earlier than usual.

A few key dates can make a big difference to your finances. Take a few minutes to add these dates to your calendar now, and you'll be well prepared for whatever August brings.