HMRC Sends Tax Demand Letters for Savings Interest
UK savers who earned interest from high-paying accounts last year are receiving unexpected HMRC letters demanding tax payments, as the Personal Savings Allowance hasn't kept pace with rising rates.
Category : Finance Banking
Car Finance Mis-Selling: Drivers May Claim Hundreds in Compensation
Millions of UK drivers may be owed compensation for car finance mis-selling before 2021, with some eligible for multiple payouts due to hidden commission practices.
HMRC Digital Tax Rules Criticized as State Control
HMRC's Making Tax Digital initiative, affecting up to 864,000 sole traders and landlords, faces backlash over privacy concerns and increased government scrutiny.
Barclays £200 Bonus & Apple TV for New Account Switchers
Barclays is providing a £200 payment and Apple TV access to eligible customers who switch to their bank account through a simple process, with specific requirements outlined.
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Nationwide Urges Customers to Call If Accounts Missing on App
Nationwide Building Society has issued a critical warning to customers, advising them to call immediately if newly opened accounts fail to appear on their mobile app within seven days. This follows a customer inquiry on social media about a joint account
Lloyds Bank Warns Customers: 'We'll Be Watching Closely'
Lloyds Bank reports business confidence rose to 55% in March, with smaller firms optimistic but larger ones cautious. The West Midlands leads UK regions in optimism.
Nationwide App to Add Payment Notifications After Requests
Nationwide Building Society confirms it is developing a new feature for its online banking app that will notify customers of incoming payments, responding directly to user feedback.
Private Equity Deals Drop 36% Due to AI and War Concerns
Global private equity acquisitions fell sharply to $172bn in Q1 2026, with dealmakers citing AI disruption in software and Middle East conflict volatility as key factors slowing market recovery.
UK Households Face Tax Bills on Savings Due to Fiscal Drag
Millions of UK households risk unexpected tax bills as frozen income tax thresholds and the outdated Personal Savings Allowance drag savers into higher tax brackets, with analysis showing £916 interest payments breaching limits.
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Car Finance Scandal: £830 Compensation & Scam Alert
The FCA confirms £830 compensation for 12.1 million car finance contracts, but warns drivers to be vigilant against scams. Official guidance urges using trusted routes to claim.
HMRC Urges Claim of Forgotten £2,000 Child Trust Funds
Thousands of young adults born between 2002 and 2011 may have unclaimed Child Trust Funds averaging £2,200. HMRC is encouraging them to use its online tool to locate and access these tax-free savings.
State Pension Changes April 2026: Key Updates
Significant State Pension changes take effect in April 2026, including a 4.8% increase under the triple lock and a phased rise in pension age from 66 to 67. Experts urge workers to plan ahead for retirement gaps.
Final £20k ISA Year for Under-65s Before Allowance Cut
The new tax year brings a final opportunity for savers under 65 to use the full £20,000 cash ISA allowance before it drops to £12,000 next April, while over-65s retain the higher limit.
NatWest Error Nearly Loses Customer's New Home in Birmingham
A NatWest customer in Birmingham nearly lost their new home after a banking error blocked access to £260,000 transferred for property contracts. The bank demanded biometric verification at distant branches before finally resolving the issue.
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HMRC's 71% Tax Trap Hits UK Households, Stifling Careers
Thousands of UK households face a staggering 71% tax rate as HMRC's £100,000 threshold withdraws personal allowances and childcare support, forcing high earners to limit career advancement.
Barclays Plans High Street Return with New Branches
Barclays is planning a significant return to the high street by opening new branches and reintroducing bank managers, reversing years of closures that saw over 800 locations shut since 2018.
HMRC Final Warning: New Digital Tax Rules Start Today
HMRC has issued a last-minute alert as Making Tax Digital for Income Tax begins today, requiring self-employed and property income earners over £50,000 to submit quarterly digital updates.
Nationwide Cash ISA Offers £435 Boost Before Tax Limit Cut
Nationwide Building Society is promoting its 1 Year Fixed Rate Cash ISA with a 4.35% interest rate, allowing customers to earn £435 tax-free on a £10,000 deposit before the ISA limit is reduced next year.
Parents Delay Retirement as Bank of Mum and Dad Grows
New research reveals 61% of parents financially support adult children, with 15% delaying retirement and 27% dipping into savings, impacting long-term financial security.
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Lloyds Bank £88M Deal Benefits 6,500 Housing Customers
Lloyds Bank has secured an £88 million finance package with Trent & Dove Housing, supporting maintenance and development of over 6,500 homes across Staffordshire and Derbyshire.
BT Landline Nightmare Leaves Family in Tears
A UK household was left without a landline for weeks after BT's Digital Voice switch, causing distress and threatening a 50-year-old phone number.
Cash ISA Deadline: Last Chance for £20,000 Tax-Free Allowance
Savers have less than 24 hours to utilize their 2025/26 tax-free ISA allowances before the new tax year begins. Experts warn against rushed decisions and highlight key considerations for Lifetime ISAs, Cash ISAs, and upcoming rule changes.
HMRC Boosts Pensioners' Tax Allowance to £21,330
State pensioners can increase their personal tax allowance from £12,570 to £21,330 using HMRC's Rent-a-Room and Marriage Allowance schemes, offering significant tax savings.
Mortgage Bills Rise £1,600 Yearly Due to Middle East Conflict
The ongoing conflict in the Middle East has caused UK mortgage rates to surge, adding approximately £1,600 to annual borrowing costs for homeowners.
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State Pensioners Get Tax-Free Exemption from HMRC
HMRC confirms that individuals relying solely on the new or basic state pension will not face income tax bills for the remainder of the current Parliament, following a 4.8% increase in payments.
Lloyds Bank £50 Referral Bonus for Birmingham Customers
Lloyds Bank is providing a £50 bonus to customers who refer friends, with payments issued within 30 days. The bank also offers other incentives, including switching bonuses up to £500.
ISA Deadline Warning: Avoid Missing Tax-Free Allowance
Financial experts warn ISA savers that missing the April 5 deadline means losing tax-free allowances and bonuses, with significant changes coming next year.
ISA Deadline Today: Use Tax-Free Allowances Before Midnight
Savers have only hours left to maximize their 2025/26 ISA allowances before the tax year resets. Experts warn missing the deadline means losing valuable bonuses like the £1,000 LISA top-up.
ISA Savers: Fix 4 Tax Deadline Mistakes Before Midnight
Financial experts warn millions of ISA savers are making costly errors as the tax year ends. Discover four common mistakes and how to correct them before the deadline.
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BBC Expert Warns Over £5,000 Bank Balances Losing Interest
BBC Morning Live's finance expert Laura Pomfret issues urgent warning to millions holding cash in current accounts, revealing billions sit idle earning minimal interest.
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