There will be changes to numerous pieces of legislation from next month.
New laws are set to be introduced in April and they could completely revamp your way of life.
The rules come into place from April 1 and include an increase in the National Living Wage, ISA allowance increases, council tax hikes, prescription price rises and changes to Employment Support Allowance.
The laws could either benefit you or do the complete opposite, so let's have a look at what they are.
How you'll be better off
April 1: National Living Wage for over 25s increases from £7.20 to £7.50 an hour.
There will be smaller increases for 18-year-olds to 20-year-olds and 21-year-olds to 24-year-olds, to £5.60 and £7.05 respectively.
Pay could be going up even more over the next few years.
The increase is due to the government looking to follow through on its promises to move towards a national minimum wage of £9 per hour for over 25s by 2020.
April 1: Pre-payment meter cap comes in - OFGEM estimates this will save four million people £80 off energy bills.
April 6: Personal Tax Allowance increases to £11,500 and the 40% income tax rate now starts on earnings from £45,000 upwards.
April 6: ISA Allowance increases from £15,240 to £20,000.
April 6: State Pension rises 2.5%. People on the news flat rate pension will get £159.55 a week, up from £155.65. Those on the older system will see incomes rise from £119.30 to £122.30.
Individuals will have a £500 annual tax- and NIC-free allowance for employer-funded pensions advice (with the cost of any advice above that level subject to tax and NIC as a benefit in kind).
It will be possible to combine that allowance with the Pensions Advice Allowance to enable individuals to access up to £1,000 of tax-advantaged financial advice.
April 10: Universal Credit taper is cut from 65% to 63% - people will get to keep an extra 2p in every pounds they earn.
Other new legislation
You might find it easier to get an apprenticeship
A new levy on big businesses to fund three million apprenticeships will come into force in April.
The new tax will raise £3billion a year from businesses with a salary bill of more than £3 million a year, so smaller companies won’t be hit.
The money raised will be given to businesses who will use it to offer apprenticeships and on-the-job training for over 16s, so it might be easier to get paid to learn a new skill this year.
£2,000 Tax-Free Childcare Scheme
The new system, though, will see the government contribute 20p for every 80p that parents spend on care costs.
This is the equivalent of the 20% tax many people pay on their earnings - hence the name "tax free".
Under the scheme's rules, working families could receive up to £2,000 a year towards the cost of childcare for each child under 12.
Or, up to £4,000 for children up to the age of 17 with a disability.
To register, parents are advised to complete the form on the government's new Childcare Choices website.
Statutory family-related pay and sick pay rates will rise
The weekly rate of statutory maternity, paternity, adoption and shared parental pay will increase to £140.98 for pay weeks commencing on or after 2 April 2017.
The weekly rate of statutory sick pay will increase to £89.35 from 6 April 2017.
Statutory redundancy pay increases
As well as this, new limits on employment statutory redundancy pay come into force on 6 April 2017.
Businesses that dismiss employees for redundancy must pay those with two years’ service an amount based on the employee’s weekly pay, length of service and age.
The weekly pay is subject to a maximum amount.
From 6 April 2017, this is £489, increasing from £479.
How you could be worse off
April 1: Council tax hike - almost all councils intend to increase bills by up to 5%, adding around £70 to the average bill.
April 1: Water Bill prices increase by an average 2% to £395.
April 1: Prescription charges rise by 20p.
April 1: TV Licence goes up to £147.
April 1: Housing Benefit for 18-year-olds to 21-years-old is scrapped - homeless charity Centrepoint estimates it could make another 9,000 young people homeless.
April 1: Employment Support Allowance (Work Related Activity Group) is being chopped from £102 to £73 a week for new claimants.
April 3: Universal Credit conditionality changes will mean parents are now expected to look for work when their youngest child turns three, rather than five. For the first time this affects those with pre-school children - an age when child care is the most expensive.
April 6: Tax credits and Universal Credit benefits are being restricted to just two children - this is expected to affect a million families.
Other new legislation
An immigration skills charge will be introduced
Employers and businesses that sponsor skilled workers under tier two of the immigration points-based system will have to pay a levy of £1,000 per certificate of sponsorship per year.
This is £364 for small employers and charities.
The immigration skills charge is due to come into force on 6 April 2017.
Taxing your car could become more pricey
From April only 100% electric cars will be exempt from road tax - bad news for anyone looking for a low-emission or diesel car, some of which currently avoid the tax.
Every other vehicle will be charged at a tiered first-year rate based on its CO2 emissions - this could be more expensive for some cars.
But after that, cars will be subject to a £140 flat fee for every year after that.
This means a big hike for people looking for small, fairly economical cars, who could be paying over £100 more a year, though almost everyone will be paying more.
But remember this only applies to new cars bough after April - if you already own a car, or will be buying one registered before April 2017, there will be no changes to how much you pay.
Keep up to date with the latest news in west London via the free getwestlondon app.
You can even set it to receive push notifications for all the breaking news in your area.