You may have more in your pocket or bank balance from April 1 as a number of new rules and laws come into effect.

Many could see their income increase thanks to the changes - but others could be hit hard, The Mirror reports .

Some of the new rules which will come into place from April 1 include an increase in the National Living Wage, ISA allowance increases, council tax hikes, prescription price rises and changes to Employment Support Allowance.

A number of the significant changes were announced by Chancellor Philip Hammond during The Budget at the beginning of March.

Money
Money

Here is a list of all the new rules and laws which could effect you:

How you’ll be better off

April 1: National Living Wage for over 25s increases from £7.20 to £7.50 an hour

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 new 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.

April 10: Universal Credit taper is cut from 65% to 63% - people will get to keep an extra 2p in every pound they earn.

Money cash
Money cash

How you could end up 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 20p

April 1: TV Licence goes up to £147

April 1: Housing Benefit for 18-21 year olds is scrapped - homeless charity Centrepoint estimates it could make another 9,000 young people homeless.

April 3: 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 almost a million families.

April 6: The tax credit family element is no longer available for people starting a family - expected to hit four million families.

April 6: Bereavement support is being slashed with financial help only available for just 18 months now - down from up to 20 years.

April 6: Money Purchase Annual Allowance for pension contributions chopped from £10,000 to £4,000. This is harsh and could hit over 55s using the pension freedoms while continuing to work. People will need to think carefully before dipping into pension savings early, they will be restricted on what they can save towards retirement ongoing.