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.
Category : Finance Banking
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.
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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.
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.
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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.
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.
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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.
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.
Lloyds Bank Ends £50 Overdraft Buffer from June 8
Lloyds Bank will remove the £50 interest-free overdraft buffer on packaged accounts from June 8, 2026, affecting Silver, Gold, and Platinum accounts. The Select account is also being converted to a Classic account.
DWP Appoints New Chair for PPF Effective July 1
The DWP has appointed Joanne Segars OBE as the new Chair of the Pension Protection Fund, effective July 1, 2026, impacting 430,000 members.
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DWP Sends £1,330 to 44% of Universal Credit Claimants
DWP Universal Credit caseload hits 8.3 million, with 44% of households receiving £1,330 monthly. Average payment is £1,030 as pressure mounts to cut welfare bill.
700,000 Face Pension Poverty as Labour Refuses Change
Labour government refuses to raise minimum pension contributions, risking poverty for 700,000. Scottish Widows says 10 million could benefit from increase.
Fuel App Error Costs Drivers £260 Extra at Pumps
Motorists are paying up to 8p more per litre due to outdated fuel price data on apps, costing families an extra £260 annually, research by What Car? reveals.
DWP Urged to Cut Universal Credit for 4.2 Million Claimants
Universal Credit claimants have soared to 8.3 million, with 4.2 million having no work requirements. The Tories call for a crackdown to restore fairness.
Wolverhampton Lottery Winner Has 5 Months to Claim £120k
A mystery lottery ticket bought in Wolverhampton matched all five main numbers in the Set For Life draw on April 27, winning £10,000 a month for a year. The prize must be claimed by October 24.
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DWP £200-£300 Payments for Pensioners Born 1946-1960
Millions of over-65s will receive extra cash payments on top of their state pension. Winter Fuel Payments of £200 or £300 are confirmed for 2026, with eligibility based on age and income.
Barclays Issues 18-Month Warning as UK Spending Falls
Barclays warns of 18-month spending decline as UK households cut back amid global uncertainty. Card spending fell 0.1% year-on-year in April, first drop since 2024.
BBC TV Licence Refund: £180 for UK Households
UK households can claim a £180 TV Licence refund if they cancel after paying in full. The fee rose in April. Apply with one form.
New £225 Car Tax Fee for UK Drivers Confirmed
Chancellor Rachel Reeves has introduced a new £225 car tax fee for drivers in band F, affecting petrol, diesel, and electric vehicles registered between 2001 and 2017.
Nationwide Issues 24-Hour Alert on Mortgage Rate Cuts
Nationwide and Virgin announce mortgage rate cuts up to 0.36%, following NatWest and Santander, with reductions for first-time buyers and remortgages.
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EON and OVO Update on Fixed Tariffs After Takeover
E.On has acquired OVO, creating a giant serving nearly 10 million customers. Customers on fixed tariffs are assured no changes during the regulatory review.
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