HMRC Warning After 22-Year Sentence for £8.8M VAT Fraud
HMRC issues urgent due diligence warning after a Scottish employment agency gang is jailed for 22 years for stealing £8.8 million in VAT to fund lavish lifestyles.
Category : Finance Banking
HMRC Tax Rule Change Starts Next Month with £10k Fines
A new mandatory HMRC rule requiring tax advisers to register begins next month, with penalties of up to £10,000 for non-compliance. Experts warn of costly errors.
Rachel Reeves' Cash ISA Overhaul Stalls, Savers in Doubt
Chancellor Rachel Reeves' planned overhaul of cash ISA rules has stalled, with Treasury indecision delaying reforms. The annual allowance cut to £12,000 for under-65s from April 2027 proceeds, but broader changes remain uncertain.
Martin Lewis Warns Millions Overpaying Tax Due to Code Errors
Martin Lewis issues urgent warning as millions of UK workers and pensioners overpay billions in income tax due to incorrect tax codes, with HMRC not obligated to notify them.
Millions Could Have Unclaimed HMRC Money from Child Trust Funds
HMRC alerts Brits born between 2002 and 2011 about potential unclaimed Child Trust Fund money, with accounts containing government contributions of £250-£500.
Small Mobile Networks Beat Big Four in Survey
A new survey reveals smaller mobile providers like Talkmobile and Tesco Mobile offer better service and lower prices than major networks, potentially saving customers £200 annually.
Energy Customers Told to Increase Payments from Tuesday
Major energy providers including British Gas, Octopus, EDF, EON, and Ovo are advising customers to raise their payments due to ongoing Middle East tensions. An economics professor explains why this proactive approach can prevent future financial shocks.
116 EV Models Exempt from £440 Car Tax Charge
Chancellor Rachel Reeves has raised the Vehicle Excise Duty threshold for electric cars, exempting 116 models from a £440 annual luxury car tax, while petrol and diesel vehicles face unchanged rules.
HMRC: Pay Rises Could Mean Child Benefit Payback
HM Revenue & Customs alerts parents that salary increases above £60,000 may require repayment of Child Benefit through the High Income Child Benefit Charge, regardless of biological relationship to the child.
Lloyds Named Best Credit Card Provider in UK
Lloyds Bank has been awarded Best Credit Card Provider at the Moneyfacts Awards, beating major competitors like Nationwide, Barclays, and NatWest. The recognition highlights the bank's focus on simplicity, transparency, and customer choice.
Frozen Tax Bands Drag More Pensioners into Income Tax
Hundreds of thousands more UK pensioners face unexpected HMRC tax bills due to frozen personal allowances and rising state pensions under triple lock rules, sparking criticism of Chancellor Rachel Reeves.
Martin Lewis Warns on Financial Small Print to Prevent Mistakes
Financial expert Martin Lewis highlights the importance of reading fine print in contracts, sharing real-life stories from listeners about costly financial errors and unexpected benefits.
Halifax: Turn £1,000 into £1,250 via Pension Tax Relief
Halifax has emailed customers detailing how pension tax relief can transform £1,000 into £1,250, offering two personal pension options while emphasizing workplace pensions as a priority.
Martin Lewis: 4 Things Needed for Real Success
Money Saving Expert Martin Lewis outlines the four essential elements for true success, emphasizing talent, hard work, focus, and luck, during a university speech.
HMRC Warning: Pay Rise Could Trigger Child Benefit Tax Charge
HMRC has alerted UK households that recent pay rises may require them to repay Child Benefit through the High Income Child Benefit Charge if earnings exceed £60,000.
HMRC £7,170 Pension Boost for Parents of Post-2001 Kids
Parents and grandparents caring for children born after 2001 could claim thousands in state pension credits through HMRC's Child Benefit scheme, with one year adding £7,170 over retirement.
Nationwide £100 Payment Rule Change: Millions More Eligible
Following the Virgin Money takeover, 6.3 million new customers will qualify for Nationwide's annual £100 Fairer Share payment starting in 2027, with details announced on May 21.
HMRC Demands £1,279 Tax Refund After Six Years
A taxpayer faces an unexpected demand from HMRC to repay a £1,279 tax refund issued six years ago, with only 30 days' notice, sparking concerns over pension errors and DRIER procedures.
HMRC Sending £641 Bills to 1.4 Million Households
Over 1.4 million UK households face unexpected average tax bills of £641 as HMRC sends letters due to rising interest rates and frozen tax thresholds under new government policies.
HMRC Mileage Rates Unfair as Fuel Costs Soar, Experts Say
Experts call for urgent update to HMRC's Approved Mileage Allowance Payment rates, citing a 50% inflation gap and unfair burden on drivers using private vehicles for work.
Santander Fee Hike: Customers Urged to Switch Banks
Santander will raise monthly charges for three popular accounts by £1 starting May 11, prompting financial experts to advise customers to review their banking options.
Tesco Bank Axes Card & Savings Service - Act Now
Tesco Bank is discontinuing its Clubcard Pay+ prepaid card and linked savings accounts on April 26. Customers must transfer their money via the mobile app before the deadline to avoid access issues.
NatWest Financial Education Drive to Benefit 50,000
NatWest Group announces expansion of its Financial Foundations programme with new investment workshops, aiming to support 50,000 people nationwide through free financial education sessions.
HMRC VAT Probes Jump 31% to 12,000 in Tax Gap Crackdown
HMRC investigations into unpaid VAT by large and medium-sized companies surged by one-third to almost 12,000 last year as the tax authority intensifies efforts to close the £47 billion tax gap.
UK Families Hit with £61M Tax Bill Over Gift Rule Breaches
HMRC rules on gifts with reservation of benefit have cost UK households £61 million in inheritance tax, with 220 gifts triggering surprise bills in 2023-24.
DWP Pension System Unfair for Pre-1951 Retirees
The Department for Work and Pensions faces criticism as the triple lock widens the gap between old and new state pensions, leaving those born before 1951 with lower payments.
7 Home Insurance Terms You Must Understand to Avoid Costly Mistakes
An insurance expert explains seven frequently misunderstood home insurance terms, including sum insured, water escape, and no claims discount, to help homeowners avoid rejected claims and financial losses.
Rachel Reeves' £2,200 Tax Charge on Luxury Cars
Chancellor Rachel Reeves has introduced a £2,200 tax charge on drivers of certain luxury vehicles through the Expensive Car Supplement, with bills rising by £15 annually from 2026.
Nationwide £100 Bonuses Set for June Payment to Eligible Customers
Nationwide Building Society plans to distribute £100 Fairer Share bonus payments to qualifying customers in June 2026, pending financial performance and eligibility criteria confirmation.
HMRC Raises Tax-Free Allowance to £18,570 for Some
Workers earning under £18,570 annually could see their tax-free allowance increase to nearly £19,000, offering relief during the cost-of-living crisis through combined savings allowances.
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