Rachel Reeves Freezes Fuel Duty in Cost-of-Living U-Turn
Chancellor Rachel Reeves is expected to scrap a planned 5p fuel duty rise amid cost-of-living pressures from the Iran war and poor Labour local election results.
Category : Finance Banking
HMRC Confirms 45p Per Mile Rule for Drivers Under 10,000 Miles
HMRC has confirmed a 45p per mile tax relief for drivers using their own vehicles for business trips under 10,000 miles annually. Claims can be made for current and past four tax years.
ISA Hack Lets Parents Boost Limit to £29,000
Parents can legally add £9,000 to the £20,000 ISA limit when a child turns 18, using a stacking loophole between Junior and adult ISAs.
HMRC Confirms New VAT Fuel Scale Charges from May 2026
HMRC has announced new VAT road fuel scale charges effective from 1 May 2026 to 30 April 2027, impacting businesses accounting for private fuel use.
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HMRC Tax-Free Allowance Increase Gives Couples £252
HMRC's Marriage Allowance increase lets couples transfer £1,260 of Personal Allowance, saving up to £252 in tax. Eligibility and calculation details inside.
HMRC to Issue £9,400 Tax Bills After Cash ISA Change
A cut to the Cash ISA allowance could lead to tax bills of up to £9,400 over 10 years for additional-rate taxpayers, warns AJ Bell.
HMRC £29,000 Tax-Free Allowance for UK Households
UK households with children born in certain years can access £29,000 in tax-free ISA allowances. Financial expert Antonia Medlicott explains how to maximise savings.
Barclays Update for 2026 Holidaymakers
Barclays issues an update for customers with holidays booked in 2026, revealing research that holidaymakers seek more control through rewards, planning, and AI.
Nationwide Updates Credit Card Payment Rules
Nationwide Building Society clarifies credit card payment rules after customer query. The mutual explains pending transactions and payment timing to protect credit scores.
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HMRC Warns £60k-£80k Earners on Child Benefit Repayment
HMRC sends urgent message to people earning between £60,000 and £80,000, warning they may have to repay some or all of their Child Benefit due to the High Income Child Benefit Charge.
Iran War Could Cost UK Savers £275
Analysis shows the Iran war may cost savers £275 in real terms, as rising interest rates fail to offset higher inflation.
Halifax Issues Credit Card Refund Update to Customers
Halifax has issued a key update on credit card refunds, explaining how credit balances are handled and how customers can request refunds via the app or online banking.
UK Savers Urged to Act or Risk Losing £1,861
UK households are warned that failing to shop around for the best Cash ISA could cost them £1,861 over five years, as the allowance drops to £12,000 in April 2027.
HMRC Updates Taxpayers on Refund Processing Times
HMRC has issued an update on refund processing times, advising taxpayers that requests can take up to 14 weeks. Check your details to avoid overpaying tax.
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DWP Pays Universal Credit Claimants £424 Early in May
The DWP will pay Universal Credit claimants £424 early in May, three days before the bank holiday, with standard allowance rising to £424.90 from April.
Nationwide pays £450 interest on new 4.5% Cash ISA
Nationwide launches new savings accounts with competitive rates, including a 1 Year Fixed Rate Cash ISA at 4.50%, potentially earning £450 on £10,000.
Teen driver who killed friend in crash gets four years
Joe McAldon, 18, passed his driving test just six days before crashing a Vauxhall Corsa into a wall, killing passenger Max Greenhouse, 17, and injuring two others.
Brits Sleepwalking into Estate Planning Tax Mistakes
Millions of Brits are unaware of costly estate planning mistakes that could lead to tax bills. Experts warn of common misconceptions and looming inheritance tax changes.
Martin Lewis: £2,000 Unclaimed for Those Born 2002-2011
Martin Lewis reveals that people born between 2002 and 2011 could have unclaimed Child Trust Funds averaging £2,000. Use the free GOV.UK tool to find yours.
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Iran war surcharge adds £70 to UK gas bottle costs
Calor introduces a 3.4p per litre volatility surcharge from May 18 due to Iran war, adding £70 to typical LPG bills. Uswitch warns 63% of standard tariff homes unaware of July price cap rise.
HMRC Hits 2.6M Savers with £2,300 Average Tax Bill
HMRC is taxing over 2.6 million savers an average of £2,300 each in 2025/26, up from 647,000 in 2021/22, as interest rates rise and tax bands freeze.
DWP Sets Bank Account Check Rules for Three Benefits
The DWP has published a new Code of Practice on Eligibility Verification Notices for bank account checks targeting Universal Credit, State Pension Credit, and Employment and Support Allowance to combat fraud.
Revolut Ultra: £55 Monthly Fee for £9,000 in Perks
Revolut Ultra account costs £55 monthly but offers up to £9,000 in annual perks, including subscriptions worth £4,000 a year. Earn points on spending.
Labour Probes Bank Branch Closures as 228 Shut in 2026
The government has announced a probe into the wave of bank branch closures across the UK, with at least 228 scheduled for closure in 2026. The Access to Banking Review aims to ensure face-to-face services remain available.
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NS&I to Give 322,000 Customers Extra Prizes from July
NS&I is boosting its Premium Bonds prize fund rate to 3.80% from July 2026, resulting in 322,000 extra monthly prizes for customers. Rates on savings accounts also rise.
State Pensioners Lose £320 Monthly If Retiring Abroad
State pensioners retiring abroad could lose over £77,000 in 20 years due to frozen payments under DWP rules, warns Rathbones analysis.
First-Time Buyers Urged to Lock Mortgage Rates Now
Brokers warn first-time buyers to secure mortgage rates quickly as rising swap rates and political uncertainty may reverse recent cuts. Lenders like Nationwide and Santander cut rates, but experts predict hikes soon.
Rachel Reeves Urged to Scrap £200 EV Tax to Boost Uptake
The National Franchised Dealers Association calls on the Treasury to remove the £200 annual VED charge for electric vehicles, warning it could slow demand.
NatWest's New Savings Account Limits Withdrawals to Three Per Year
NatWest launches Defined Access Saver with higher interest rate for customers who limit withdrawals to three per year, resetting annually.
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HMRC Rule Change: 50% of Pensions Withheld for IHT
From April 2027, HMRC allows pension schemes to withhold up to 50% of pots for inheritance tax. Experts warn of delays and family rifts.
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