DVLA to Cancel Licences for Over-70s Who Fail Eye Test
The Government plans mandatory eye tests for over-70s, with licences cancelled if they fail. Over 10,000 licences revoked since 2025, as road safety crackdown intensifies.
Category : Finance Banking
Lloyds: £3,500 savings possible with digital banking tools
Lloyds Bank research reveals UK households could save £3,500 over 10 years by adopting digital banking tools, with £100 billion available nationally.
UK Households Brace for New Cost of Living Crisis
A PwC survey reveals UK household financial sentiment hit a 2.5-year low in April, with 90% concerned about costs. Under-35s hardest hit, spending cutbacks expected.
HMRC Targets Savers with £10,000 in Bank Accounts
HMRC is sending tax letters to savers with £10,000 in accounts as 2.8 million paid tax on savings in 2025-26. Basic-rate taxpayers face tax with £20,000 at 5%.
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Automatic £150 Energy Rebates for 345,000 Households
The UK government confirms automatic £150 Warm Home Discount for 345,000 Scottish households from winter 2026/27, expanding eligibility and extending the scheme to 2031.
DWP Issues Higher Universal Credit Payments in June
The DWP explains why some Universal Credit claimants will receive an above-inflation increase in June, with payments varying based on assessment periods.
Mortgage Costs Could Rise £3,000 a Year for UK Households
Homeowners may face an extra £3,000 annually on mortgage payments due to Trumpflation, with Bank of England modeling oil prices above $120 and inflation at 6.2%.
Pensioners Keep £20k ISA Limit as Others Face Cut
Chancellor Rachel Reeves announced the cash ISA limit will drop to £12,000 in 2027, but state pensioners aged 65+ retain the £20,000 allowance.
New £2,000 Pension Salary Sacrifice Cap Hurts Schemes
A new £2,000 yearly cap on pension salary sacrifice from April 2029 is causing 39% of firms to consider scrapping schemes, worsening the UK's under-saving crisis.
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Drivers Face £55-£60 Tax Hit After April Fuel Price Surge
Petrol and diesel drivers are facing a £55-£60 tax burden per tank due to rising fuel prices, driven by the Iran war. Diesel prices surged 36.5% in nine weeks, pushing fill-up costs to £134.50.
Nationwide Issues 10-Day Warning Over £100 Bonus Payments
Nationwide has issued a 10-day warning over £100 bonus payments. Members await Fairer Share announcement on May 21, subject to financial performance and board approval.
New DVLA Rules: Tougher Eye Tests for Over-70s
The UK Government announces mandatory eye tests for drivers over 70, with licences revoked if standards not met, aiming to improve road safety.
Thousands Slash Mortgages by £40,000 with Overpayments
67% of UK home buyers use overpayments to become mortgage-free by 40. A £150 monthly overpayment on a £250,000 mortgage can save over £40,000 in interest and cut four years off the term.
£50,271 Earners Risk HMRC Tax Bill Over Frozen Rule
Yorkshire Building Society warns millions earning over £50,271 face unexpected tax bills due to a frozen Personal Savings Allowance, leaving savers confused and anxious.
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UK Savers Risk Losing £322 a Year on Closed Accounts
UK households with savings accounts could lose £322 annually by keeping money in closed accounts. Finance expert urges switching to better rates.
HMRC Fines UK Households £900 After Three-Month Grace Period
Nearly 1 million UK households missed the January 31 tax return deadline, triggering £100 fines. Three months later, extra daily penalties of £10 apply, up to £900.
UK Drivers Face £560 Car Insurance Premium in Q1 2026
UK drivers now pay £560 average car insurance, up £1 from late 2025 but down £20 year-on-year. Repair costs rise 3% as ABI calls for action.
UK savers urged to switch accounts for extra £180 yearly
Skipton Building Society analysis reveals 80 million UK savings accounts earn 0% interest. Switching to top-paying accounts could yield £180 extra annually.
Energy customers can save up to £230 with simple changes
Households with British Gas, EDF, EON, OVO and Octopus could cut energy bills by up to £230 through small adjustments like using bubble wrap on windows and turning off boiler pre-heat.
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HMRC Raises Personal Allowance to £13,830
HMRC increases personal tax-free allowance by £1,260 to £13,830 for eligible married couples through Marriage Allowance, potentially saving up to £1,260.
Two Men Charged with Drink-Driving After Dudley Crashes
Stanley Garrett and Jordan Bell are charged with drink-driving following two separate collisions in Dudley. Bell faces additional charges including driving while disqualified.
UK households face £203 tax allowance shortfall from HMRC
Many higher-rate taxpayers mistakenly believe they can earn £703 in savings interest tax-free, but the real allowance is only £500, leading to a £203 shortfall.
FCA Confirms Delay to £829 Car Finance Compensation
The FCA has confirmed a delay to car finance compensation, leaving drivers hoping for average £829 payouts in limbo due to legal challenges.
EON Energy Customers to See £230 Extra in Bank Accounts
E.ON Next has repriced its tariffs, offering customers potential savings of up to £230 against predicted July-September Energy Price Cap.
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Rachel Reeves rule means 600,000 more pensioners lose money
An extra 600,000 over-65s face income tax due to frozen tax bands, with state pension rises pushing them over the threshold, experts warn.
Tesco Warns £17m Clubcard Vouchers Expire May 31
Tesco urges Clubcard holders to use £17m worth of vouchers before they expire on May 31. Vouchers issued in May 2024 are valid until 11:59pm on that date.
British Gas, Octopus and Eon Paying £200: Ask Now
Energy customers can claim hundreds of pounds from suppliers like British Gas, Octopus, and Eon if they have built up too much credit on their accounts.
Savings Accounts Paying Less Than Inflation Hit Millions
Over 69 million savings accounts in the UK pay less than 3%, losing value in real terms as inflation stands at 3.3%. Experts urge savers to switch to better rates.
10p Fuel Duty Cut Proposed Until Spring 2027
The IPPR urges the government to cut fuel duty by 10p, cap speed limits, and introduce an energy price cap to shield households from the Iran war's economic impact.
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NatWest £200 Switch Bonus for New Current Account Customers
NatWest is offering £200 to customers switching to a Select or Reward current account from May 6. Conditions include depositing £1,250 within 60 days. Bonus paid within 30 days.
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