DWP Urged to Cut Universal Credit by £241 for 400,000
The Conservative Party proposes reforming the household benefit cap to reduce Universal Credit by £241 for 400,000 claimants, saving £1.2bn annually.
Category : Finance Banking
2M UK Households Face Higher HMRC Tax Bill
Nearly two million UK households face higher tax bills due to frozen thresholds, with 5.76 million now paying the 40% higher rate, a 50% increase since 2019.
£829 Car Finance Payouts Delayed by 4 Legal Challenges
Four legal challenges threaten the FCA's £9.1bn compensation scheme for motor finance victims, potentially delaying average £829 payouts for millions of drivers.
DWP Rolls Out State Pension Boost of £575 for Millions
The DWP begins rolling out a state pension change, with over 12 million pensioners receiving a £575 boost, though most will get less due to the two-tier system.
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HMRC Sending Tax Letters to Savers with £11,000
Martin Lewis warns HMRC is sending tax demands to savers with £11,000 or £22,000 in savings, depending on tax bracket, as rising interest rates push more people over tax-free limits.
HMRC £60,000 Pension Allowance Limit Hits UK Households
UK households face a £60,000 annual pension allowance limit from HMRC. Learn how this affects your savings and when tax applies.
Rachel Reeves Urged to Cut Car Tax by 50% for Older Cars
A petition urges Chancellor Rachel Reeves to reduce Vehicle Excise Duty by 50% for cars aged 20-39 years, citing environmental and heritage benefits. HM Treasury responds.
Martin Lewis: HMRC Sending £1,000 Cheques to UK Households
Martin Lewis explains how UK households can claim Marriage Tax Allowance from HMRC, potentially receiving cheques of up to £1,000 by backdating claims for four tax years.
HMRC Sends £475 to UK Households But Not Automatic
HMRC is issuing nearly £475 to UK households, but it's not automatic. Almost one million people missed out on tax refunds in 2025. Check the HMRC app to claim.
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DWP State Pension Boost: £241 for Ages 66-75 in May
State pensioners aged 66 to 75 receive a £241 increase in May 2026 due to the Triple Lock, raising weekly payments from £230 to £241.
DWP gives 600,000 households £32,200+ in benefits
Nearly 626,000 households received over £32,200 in welfare payments last year, with 16,000 getting more than £60,000, sparking calls for reform.
Warning: 4 Supermarket Staples to Be 50% Higher by Year End
UK households warned that four supermarket staples—pasta, frozen vegetables, eggs, and beef—are set to be 50-64% higher by end of year, driven by Middle East conflict and rising oil prices.
Labour Confirms £170 Car Tax for Pre-2017 Band D Vehicles
Rachel Reeves confirms Band D cars registered before 2017 will pay £170 in road tax from next financial year. Check your VED band and payment options.
British Gas, EDF, EON, Ovo, Octopus Save £230
British Gas, EDF, EON, OVO and Octopus customers can save up to £230 on energy bills with simple changes like bubble wrap on windows and turning off boiler preheat.
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State pensioners overcharged £3,160 by HMRC
Almost 14,000 state pensioners reclaimed £44.1m in overpaid tax between Jan-Mar 2026, with average repayment rising to £3,160 due to larger HMRC errors.
Three Tax Changes Under Rachel Reeves: ISAs, Savings, Self-Assessment
Rachel Reeves' tax changes from April 2027 affect ISAs, savings, and self-assessment. Key updates include cash ISA limits, higher savings taxes, and Making Tax Digital thresholds.
Major UK Banks Hike Mortgage Rates: Blow for Homeowners
NatWest, Santander, Barclays, HSBC, and Lloyds have reduced selected fixed mortgage rates, causing the largest monthly increase since July 2023. Homeowners face higher repayments amid Middle East conflict.
Plug-in Hybrid Cars £4,150 More Than EVs
New data reveals plug-in hybrids are 10% more expensive than electric vehicles, with drivers paying £4,150 extra on average. The UK's best-selling car in March is £2,000 more costly as a hybrid.
30,000 Ukrainian Drivers Affected by Licence Rule Change
The UK government proposes extending Ukrainian driving licence validity from 36 to 60 months, affecting 30,000 drivers. Consultation seeks views on road safety.
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£364 Home Insurance Gap: Job Title Impacts Premiums
Go Compare warns of a £364 gap between cheapest and most expensive home insurance premiums by job title, with warehouse packers paying £155 and investment managers £519 annually.
BoE Holds Rates at 3.75% Over Middle East Tensions
The Bank of England kept interest rates at 3.75% but warned rising energy costs from Middle East tensions could push inflation higher, possibly requiring future rate rises.
UK Households Rush to Switch Bank Accounts to Nationwide
1.15 million CASS switches in 12 months; Nationwide gains 64,527 customers in Q4 2025, followed by Barclays and Lloyds. Cost-of-living crisis drives switching.
Rachel Reeves Confirms £200 Car Tax for Most Drivers
Chancellor Rachel Reeves has confirmed a £200 annual Vehicle Excise Duty for most drivers starting April 2026, with new first-year rates based on CO2 emissions.
NS&I Premium Bonds: Check Accounts on Saturday
All 24 million NS&I Premium Bonds holders should log in on Saturday, May 2, to see if they won prizes. This month's draws include two new millionaires.
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DWP urged to scrap 'outdated' triple lock for pensioners
The Tony Blair Institute calls for abolishing the state pension triple lock and replacing it with a Lifespan Fund, citing rising costs and an aging population.
DWP urged to scrap pension credit and state retirement age
The Tony Blair Institute proposes scrapping pension credit and the state pension age, replacing them with a flexible Lifespan Fund where people choose when to retire.
HMRC demands £700 from 29 million UK households
Frozen tax thresholds mean millions face £700 extra tax by 2026/27, with basic-rate taxpayers hit hardest. AJ Bell warns of rising fiscal drag.
Nationwide £100 Fairer Share Payment 2026 Update
Nationwide may offer the £100 Fairer Share payment in 2026, pending financial performance. Experts advise checking eligibility and comparing switching offers.
UK Home Sales Plunge 41% Annually, HMRC Data Shows
HMRC data reveals UK home sales fell 41% in March 2026 versus last year, attributed to Stamp Duty changes and economic pressures from the Middle East conflict.
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Martin Lewis: Money gifts may trigger inheritance tax
Martin Lewis warns that gifting money to family could count towards inheritance tax if not managed properly. Annual allowance is £3,000 per person.
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