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.
Category : Finance Banking
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.
DWP urged to scrap 'outdated' triple lock for pensioners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.
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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.
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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UK Energy Bills Set to Rise by £202 in July
UK households face a £202 energy bill rise in July as Ofgem's new price cap is expected to increase due to Middle East tensions, with two-thirds unaware.
Nationwide to Confirm £100 Bonus Payments in May
Nationwide is set to announce £100 bonus payments for eligible customers as part of its Fairer Share scheme, likely returning this summer.
Martin Lewis' 3-Question Rule to Stop Spending
Martin Lewis shares his 'golden rule' of three questions to ask before buying anything, helping Brits avoid overspending and make smarter financial choices.
UK Tumble Dryer Ban: £40 Extra Cost for Households
Labour's Ed Miliband proposes banning traditional tumble dryers to cut emissions, promoting heat-pump alternatives costing £40 more. Critics slam the move.
State Pensioners Born 1951-1960 Face HMRC Tax Bills
State pensioners born between 1951 and 1960 risk HMRC clawing back cash as frozen tax thresholds push pensions closer to taxation. The full new state pension now stands at £12,547, just £23 below the personal allowance of £12,570.
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HMRC and Reeves Start £5m Monthly Debt Collection Drive
HMRC is spending over £5 million a month on private debt collectors to recover unpaid taxes, sparking criticism from businesses facing higher costs and interest rates.
UK Households Face £202 Energy Bill Hike in July
Millions of UK households risk 'sleepwalking' into a £202 energy price rise in July. Experts urge switching to fixed tariffs to save up to £233.
DVLA: £1,410 Petrol Car Tax from April 2026
The DVLA has revealed new first-year car tax rates for vehicles registered from April 2026, with typical petrol cars facing a £1,410 charge. Standard rate rises to £200.
Turning off heating in May could cost you more, experts warn
Gas engineers warn UK households that switching off boilers completely in May may lead to costly autumn repairs. Regular short use is advised.
DWP Pension Changes to Boost Pensions by £29k
New Pension Schemes Act becomes law, aiming to increase average worker pension pots by £29,000 through automatic consolidation and value-for-money requirements.
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Transavia Cancels May and June Flights Due to Fuel Costs
Transavia, a budget airline owned by Air France-KLM, is cancelling flights in May and June 2026 due to rising aviation fuel prices linked to the Middle East conflict. Affected customers will be notified and offered rescheduling, vouchers, or refunds.
HMRC Tax Band Change Hits 900,000 Households
Nearly 900,000 households moved into a higher tax bracket as HMRC freezes thresholds, affecting teachers, nurses, and police officers amid fiscal drag.
Six UK banks face complaints as customers get £215 payouts
Six major UK banks received the most complaints in late 2025, with customers getting average payouts of £215. Lloyds, Santander, Barclays, HSBC, and NatWest lead the list.
DWP New Pension Rules: £31,000 Boost for 22 Million
The DWP has confirmed the Pension Scheme Act is now law, benefiting 22 million workers with up to £31,000 more in retirement savings through lower costs and higher returns.
HMRC: 654,000 More in 40% Tax Bracket
HMRC data reveals 5.76 million people were in the higher 40% tax bracket in 2023/24, up 654,000 from the previous year, due to frozen thresholds and rising incomes.
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HMRC Cracks Down on Landlord Tax Loophole Using LLPs
HMRC warns landlords against using LLPs to avoid tax, stating the scheme does not work and risks penalties, interest, and higher tax bills.
Rachel Reeves Cancels Fuel Duty Rise for 2026-27
Chancellor Rachel Reeves cancels the inflationary increase in fuel duty for 2026-27, saving motorists over £90. Oil prices remain above $100 amid Middle East conflict.
Santander Issues Update on £829 Payouts Amid Profit Slump
Santander UK updates customers on £829 motor finance compensation payouts, as profits fell 44% in Q1 due to £179 million provision for mis-selling scandal.
£516 Cost of Living Payments Moved to July 2026
Jersey Government advances £516.50 Community Costs Bonus to July, providing early cost of living support to eligible households in 2026.
Millions risk £202 energy price hike in July
Nearly 12 million UK households on standard tariffs face a £202 energy price hike in July, with many unaware of the upcoming increase, new research reveals.
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Santander customers can claim free £50 by Thursday
Santander customers can get a free £50 Amazon voucher by opening an Everyday account, but the offer ends at 1pm on Thursday, April 23. Martin Lewis' MSE alerts users.
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