Energy bills could rise £260 by 2030 despite pledge
Household electricity bills could rise by £264 to £1,145 by 2030 due to net zero costs, Boston Consulting Group warns, despite government pledges.
Category : Finance Banking
ISA allowance cut to £12,000: New rules for savers
Under-65s face ISA allowance cut to £12,000 from April 2027, with £8,000 for investments taxed at 22%. Retirees keep £20,000 cash limit.
91% tax hit warning on inherited pensions from April
Families could face a 91% tax charge on inherited pensions from April under Labour's John Healey and Andy Burnham, NFU Mutual calculations show.
AJ Bell warns over common SIPP mistakes and pension rules
AJ Bell warns pensioners about common SIPP mistakes, including contribution limits, carry-forward rules, and the minimum pension age rising to 57 in 2028.
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Pension inheritance tax changes spark 50% rise in enquiries
From April 2027, untouched pension pots will face inheritance tax, prompting a 50% surge in planning enquiries, says adviser David Stirling.
HMRC tax bill warning for 5 million savers
Frozen thresholds mean 5.3 million non-ISA savings accounts are now liable for tax, up 1,047% from 2018. 2.1 million aged 65+ face HMRC bills, with total tax liability forecast to reach £3.34 billion by 2026/27.
Millions born before 1992 could get £70 Mastercard payout
Millions born before 1992 could receive up to £70 compensation after Mastercard settled a landmark UK legal case for £200m, with payouts expected next year.
11 Supermarket Staples Rising Most in Price Since 2021
Food inflation fell to 1.3% in July, the lowest since September 2021, but 11 staples including olive oil and beef have surged since the cost of living crisis began.
HMRC sends 81,000 crypto warning letters in tax crackdown
HMRC has sent 81,000 warning letters to crypto traders suspected of underpaying tax, a 25% increase from last year, according to a Freedom of Information request by UHY Hacker Young.
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HMRC to contact 1.7 million savers over tax bills
HMRC will write to 1.7 million savers with tax bills, as new forecasts show 4.5 million people will pay tax on savings interest, up from 2.7 million predicted in March.
Burnham urged to review 22% ISA tax before 2027
Labour government, led by Andy Burnham, will impose a flat 22% tax on interest from uninvested cash in non-cash ISAs from April 2027. InvestEngine's Andrew Prosser urges a review, warning it may deter savers.
2.1m over-65s face savings tax bills by 2026/27
New HMRC data shows 2.1 million over-65s will pay tax on savings income in 2026/27, a fourfold rise from 2022/23, with total liability reaching £3.34 billion.
Burnham pension change could cut take-home pay by 4%
A pension shake-up under PM Andy Burnham could cut take-home pay by 4% for the lowest-earning third of workers, if contributions rise to 12% from the first pound earned, IFS research warns.
NatWest and RBS to Cut Cashback on Reward Accounts
NatWest and RBS Reward customers lose £1 monthly app login cashback from October 1, reducing annual earnings from £36 to £24, while Direct Debit rewards remain.
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30,000 pension savers hit by HMRC annual allowance charges
HMRC data shows 30,440 pension savers breached the annual allowance in 2024/25, up 22% from last year, triggering tax charges.
Birmingham Premium Bonds: 14 big prizes won - check now
Two Birmingham savers won £100,000 and £50,000 in August's Premium Bonds draw, which produced 14 prizes of £10,000 or more for the city. Check your numbers.
Blind Person's Allowance adds £3,250 to tax allowance
Blind Person's Allowance adds £3,250 to tax-free Personal Allowance, pushing it over £15,000. Andy Burnham says no change promised before Budget.
HMRC Collects Over 3m in ISA Penalties Averaging 9,448
HMRC has collected more than £3m from 326 ISA savers, averaging £9,448 each, for breaches like failed transfers and early Junior ISA withdrawals.
NatWest launches home insurance tracker with Uinsure
NatWest and Uinsure launch a new home insurance tracker offering quotes in under 60 seconds, with a panel of leading UK insurers competing on price.
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HMRC to Fine Households Missing £1,000 Self Assessment Deadline
HMRC warns Self Assessment households who missed the July 31 second payment on account face fines and 7.75% interest. Check if you owe less than £1,000.
HMRC £100 Fines After Self Assessment Deadline
Households face £100 HMRC fines after missing July 31 self assessment payment deadline, with daily penalties following for those who fail to file.
Pensioners keep £20,000 cash ISA, working-age cut to £12,000
Pensioners will keep the full £20,000 cash ISA allowance while working-age savers see their limit reduced to £12,000 from April 2027 under new Government rules.
Drivers risk losing £248 from £829 car finance payouts
Drivers in the car finance scandal could lose £248 from their £829 compensation if they use a claims firm. The FCA's new £2m campaign offers free help.
Warning: Savers with £8,000+ Losing Money to Inflation
Millions of savings accounts earning 2.5% or less are losing value against 2.6% inflation, with £502bn affected and average balances at £8,099.
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Inheritance tax rule could cut bill to £0 under new PM
A niche HMRC rule can cut inheritance tax bills to £0 when two deaths happen within five years, and new PM Andy Burnham has sparked a rush to use it.
HMRC: £1,000 Side Hustle Trigger for Self Assessment
Anyone earning over £1,000 from side hustles must register for Self Assessment by 5 October 2026 for the 2025-26 tax year, HMRC reminds.
Car finance payout delay to 2027, FCA confirms
Motor finance compensation payments are delayed until at least 2027 after new legal challenges, the FCA has confirmed, urging customers to claim directly for free.
HMRC recovers £8m from 502 crypto investors in crackdown
HMRC recovers more than £8 million from 502 crypto investors in two tax years, with an average settlement of £16,600, according to the Financial Times.
Thousands Face £100k HMRC Bills Over Pension Withdrawals
Over 2,000 retirees withdrawing large pension pots faced HMRC tax bills up to £98,700, totalling £87.2m in six months, new Standard Life data shows.
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Nationwide customers get £275 windfall as 60,000 join
Nearly 60,000 new customers have joined Nationwide this year, many receiving up to £275 through the £100 Fairer Share payout and £175 switching bonus.
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