HMRC £18,000 Tax-Free Allowance Update Petition Grows
HM Treasury responds to a petition calling for an increase in the personal tax-free allowance to £18,000, citing fiscal cost of over £40 billion per year.
Category : Finance Banking
DVLA Car Tax Warning: EV Owners Face Costly Mistake
The DVLA warns electric vehicle buyers to check list prices carefully or face £2,200 extra in car tax over five years due to the expensive car supplement.
Rachel Reeves Tax Change: Thousands Lose £890 a Year
Rachel Reeves confirms a tax change affecting pension savers, with higher earners facing an average loss of £890 per year from 2029-30.
NS&I Boosts Premium Bonds Prizes by Over 322,000
NS&I announces improved Premium Bonds odds from July, adding over 322,000 prizes and increasing the monthly prize pot by £60 million. Experts call it welcome news.
NS&I Premium Bonds: Three-Month Rule Could Cost You Prizes
NS&I warns Premium Bonds holders of a three-month expiry rule on cheque prizes. Unclaimed cheques must be cashed in within three months or replaced.
Santander Confirms 60-Day Rule for £180 Payout
Santander confirms a 60-day rule for customers receiving a £180 switch incentive. Eligible customers must complete the switch within 60 days and meet criteria including Direct Debits and a £1,500 deposit.
Nationwide to Pay £100 Bonus to Eligible Savers in June
Nationwide announces return of Fairer Share payout scheme. Customers with savings accounts holding at least £100 in March and a current account qualify for £100 bonus between June 10-30.
HMRC Confirms £200 Tax Charge for Child Benefit Households
HMRC confirms a £200 tax charge rule for UK households receiving Child Benefit, with repayments starting at £60,000 income threshold.
HMRC Issues Stark Warning to Landlords on Tax Schemes
HMRC warns landlords against hybrid property schemes promising tax savings, calling them a major red flag. Landlords urged to pay correct tax or face penalties.
12 Million State Pensioners Face Poverty Risk
A new report warns that 12.2 million UK adults may not cover basic financial needs in retirement, highlighting pension poverty risks.
Barclays Debit Card Expiry: Key Dates and Tips
Barclays explains debit card expiry timings: new cards sent 5 weeks before expiration, arrive within 7 days. Also warns about ticket scams this summer.
HMRC Inheritance Tax Change: Major Challenge for UK Households
Nearly half of UK adults are not confident the six-month deadline for paying inheritance tax on unused pension funds will be long enough, posing one of the biggest challenges.
HMRC Warns: Act in May or Risk £900 Fine
HMRC urges UK taxpayers to act this May to avoid daily penalties of £10, capped at £900, for late Self-Assessment tax returns. Additional fines may follow.
New £20 Vehicle Tax for Older Low-Emission Cars Confirmed
Chancellor Rachel Reeves introduces a £20 vehicle tax for older low-emission cars previously in Band A. Owners of pre-2017 cars with emissions under 100g/km now face charges.
Rachel Reeves Confirms £300 Pay-Per-Mile Tax for EV Drivers
Chancellor Rachel Reeves has confirmed a new pay-per-mile tax for certain drivers. EV owners will pay 3p per mile, meaning 10,000 miles costs £300. The tax starts April 2028.
DWP Universal Credit Change: £304 Monthly Boost for Families
DWP confirms £304 monthly boost for families via Universal Credit child element after scrapping two-child limit from April 2026. Eligible households get automatic increase.
Nationwide £100 Payment: Contact by June 8
Nationwide members eligible for a £100 Fairer Share Payment must contact the building society by June 8 if they wish to opt out. The payment will arrive by June 30.
Barclays and First Direct Offer £250 and £200 Bonuses
Barclays and First Direct are offering switching bonuses of up to £250. Moneyfacts highlights top deals in savings, mortgages, and current accounts this week.
Costway Portable AC 40% Off on Amazon
Amazon slashes price on Costway portable air conditioner by 40%. Stay cool with 7000 BTU unit ideal for rooms up to 200 sq ft. Limited time offer.
HMRC Confirms New 26p Per Mile Rule for Diesel Drivers
HMRC has published new advisory fuel rates for diesel cars, effective from June 1, 2026. Drivers face charges ranging from 15p to 26p per mile depending on engine size.
UK Fuel Sales See Steepest Decline in Six Years
Fuel purchases in the UK dropped over 10% in April, the biggest fall in six years, as motorists conserve fuel after March stockpiling, ONS data shows.
Supermarket VAT Cut Confirmed by Rachel Reeves
Chancellor Rachel Reeves announces VAT reduction on over 100 food items at major supermarkets including Aldi, Asda, Morrisons, Tesco, Sainsbury's, and Lidl to lower living costs.
Financial Savvy Now More Attractive Than Good Looks
A new study reveals that Brits now consider being savvy with money a bigger turn-on than being good-looking. Financial responsibility tops the list of attractive traits.
Rachel Reeves £120 Driver Savings Since 2025
Chancellor Rachel Reeves announces £120 savings for drivers who filled up since 2025, including fuel duty cut extension and increased mileage rates.
Rachel Reeves Confirms Fuel Duty Freeze, 5p Rise Cancelled
Chancellor Rachel Reeves has confirmed the 5p fuel duty rise will not happen, freezing fuel duty for the rest of the year to support families amid rising costs.
DWP £30 Weekly Supplement Proposed for Low-Income Pensioners
A think tank suggests scrapping the state pension triple lock to save £19bn yearly, with savings funding a £30 weekly supplement for low-income pensioners.
Rachel Reeves Plans New £29 Flight Tax per Household
Chancellor Rachel Reeves is considering a 20% VAT on airport fees, potentially adding £29 to flights. Critics warn it will hurt families and competitiveness.
Reeves Cuts Car Tax to £0 for Hauliers in Summer Scheme
Chancellor Rachel Reeves announces a 12-month road tax holiday for HGVs, saving up to £912, and cuts red diesel duty as part of the Great British Summer Savings Scheme.
Reeves' Summer Savings Scheme to Cost £300 Million
Chancellor Rachel Reeves' 'Great British Summer Savings' scheme, cutting VAT on attractions, is estimated to cost £300 million, offering discounts of 5% to 20%.
Martin Lewis: Energy bills to rise 13%, more bad news ahead
Martin Lewis warns energy bills will rise 13% in July, adding £30-40 for typical households. He says the outlook for October is 'not good news either' due to high gas prices.
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