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.
Category : Finance Banking
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.
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.
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.
E.ON customers to see £211 extra in bank accounts
E.ON Energy customers in Birmingham could notice £211 extra in their accounts after the firm repriced its Next Fixed 12-month tariff, offering savings against predicted price cap rises.
Middle East War May Drive 200,000 Homes into Poverty
Economists warn that the Middle East war could push 200,000 UK households into poverty due to rising energy, fuel, and food costs.
Deported Drug Farmer Jailed for Cannabis Cultivation
Festim Ahmetaj, 35, was jailed for 24 months for cultivating cannabis in Droitwich, and for breaching a deportation order, now facing removal from the UK.
Car finance firm near collapse after £9bn compensation scheme
Blue Motor Finance is reportedly close to administration following a £9 billion compensation scheme, facing a £50 million redress bill. The FCA defends the scheme against legal challenges.
Union urges windfall tax on UK banks after £14bn profit
The TUC calls for raising the bank surcharge from 3% to 8% after Barclays, HSBC, Lloyds, and NatWest reported £14bn in Q1 profits, citing economic hardship from Trump's policies.
DWP State Pension Age Rise to 67 for First Cohort
The DWP has begun raising the state pension age to 67, affecting those born between April 6 and May 5, 1960. More cohorts will follow over two years.
DWP Told to Cut Benefits for 1.3 Million Claimants
62% of voters support cutting DWP benefits for migrants to reduce the welfare bill, as foreign national claimants rise to nearly 1.3 million, up 6.7% in a year.
DWP Sends £965 State Pension Early Within Three Weeks
The DWP is advancing £965 state pension payments due to the late May Bank Holiday, with payments arriving three weeks early for some pensioners.
Reeves rejects call to raise tax-free allowance to £18k
Chancellor Rachel Reeves responds to a 16,000-signature petition urging an increase in the personal tax-free allowance to £18,000, citing a £40 billion annual cost.
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.
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.
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.
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.
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