HMRC to Fine Households Missing £1,000 Self Assessment Deadline
HMRC warns Self Assessment households who missed the July 31 second payment on account face fines and 7.75% interest. Check if you owe less than £1,000.
Category : Finance Banking
HMRC £100 Fines After Self Assessment Deadline
Households face £100 HMRC fines after missing July 31 self assessment payment deadline, with daily penalties following for those who fail to file.
Pensioners keep £20,000 cash ISA, working-age cut to £12,000
Pensioners will keep the full £20,000 cash ISA allowance while working-age savers see their limit reduced to £12,000 from April 2027 under new Government rules.
Drivers risk losing £248 from £829 car finance payouts
Drivers in the car finance scandal could lose £248 from their £829 compensation if they use a claims firm. The FCA's new £2m campaign offers free help.
Warning: Savers with £8,000+ Losing Money to Inflation
Millions of savings accounts earning 2.5% or less are losing value against 2.6% inflation, with £502bn affected and average balances at £8,099.
Inheritance tax rule could cut bill to £0 under new PM
A niche HMRC rule can cut inheritance tax bills to £0 when two deaths happen within five years, and new PM Andy Burnham has sparked a rush to use it.
HMRC: £1,000 Side Hustle Trigger for Self Assessment
Anyone earning over £1,000 from side hustles must register for Self Assessment by 5 October 2026 for the 2025-26 tax year, HMRC reminds.
Car finance payout delay to 2027, FCA confirms
Motor finance compensation payments are delayed until at least 2027 after new legal challenges, the FCA has confirmed, urging customers to claim directly for free.
HMRC recovers £8m from 502 crypto investors in crackdown
HMRC recovers more than £8 million from 502 crypto investors in two tax years, with an average settlement of £16,600, according to the Financial Times.
Thousands Face £100k HMRC Bills Over Pension Withdrawals
Over 2,000 retirees withdrawing large pension pots faced HMRC tax bills up to £98,700, totalling £87.2m in six months, new Standard Life data shows.
Nationwide customers get £275 windfall as 60,000 join
Nearly 60,000 new customers have joined Nationwide this year, many receiving up to £275 through the £100 Fairer Share payout and £175 switching bonus.
Energy customers can claim £200 back from suppliers
Millions of direct debit energy customers with British Gas, Octopus or Eon could be owed £200 or more in summer credit – find out how to claim it.
HMRC Tax-Free Allowance Cut Over K Tax Code Letter
A K tax code on your payslip means HMRC has removed your tax-free Personal Allowance for that job — here’s what it means and how to check if it’s correct.
Pensioners born before 1960 to receive early August payments
State pensioners born before 1960 will have August payments early due to the bank holiday, with money landing on August 28 instead of August 31.
HMRC confirms Child Benefit payment date changes in Scotland
HMRC confirms Child Benefit dates shift for Scottish bank holidays: August 3 moves to August 4, and August 31 moves to August 28. England and Wales unaffected.
HMRC Child Benefit: £80k+ Earners Repay All
Earning £80,000 or more means repaying all Child Benefit to HMRC. The tapered High Income Charge begins at £60,000, with 1% clawback per £200 above.
ISA Allowance Cut to £12,000 for Under 65s
Savers under 65 face ISA allowance cut from £20,000 to £12,000 in April 2027, with a 22% tax on cash interest in stocks and shares ISAs.
Santander and TSB to Keep All 480 Branches Open Until 2028
Santander and TSB have pledged to keep all 480 UK branches open until at least 2028, defying branch closure trends despite rising costs and economic pressures.
NS&I Premium Bonds: 300,000 holders may miss prizes
Almost a third of new Premium Bonds holders expect a prize within six months, but 310,913 accounts won nothing in 2025-26, Octopus Money reveals.
Healey Urged to Protect 25% Pension Tax-Free Rule
Chancellor John Healey faces pressure from four major pension providers to rule out cutting the 25% tax-free withdrawal limit ahead of his first Budget in November.
HMRC Warns of 7.5% Interest on Late Tax Payments
Self-assessment taxpayers face a 7.5% late payment interest rate if they miss the July 31 deadline for the second payment on account, significantly increasing amounts owed.
Ducksch informs Blues of transfer desire, options open
Striker Marvin Ducksch has told Birmingham City he wants to leave this summer, with Bundesliga clubs and MLS side Orlando City showing interest. The 32-year-old scored 11 goals in 36 games last season.
HMRC Opens 5,000 Inheritance Tax Investigations into Gifts
Nearly 5,000 inheritance tax investigations were launched by HMRC in 2025-26, an 18% rise, as the tax authority intensifies scrutiny of gifts to children and other assets.
Harborne banking hub opens after five-year campaign
Harborne's new banking hub, the first in Birmingham, opens after a five-year campaign, providing shared banking services for all residents and replacing lost high street banks.
HMRC 7.75% Charge Hits Self-Employed from Friday
Self-employed face HMRC's 7.75% late payment interest from Friday as second self assessment instalment deadline looms under new PM Andy Burnham.
HMRC Sending Automatic Tax Letters to Pensioners in August
HMRC will begin sending Simple Assessment letters to pensioners from 12 August 2026, with around 1.8 million letters issued. Recipients are urged to check and pay any tax owed by 31 January 2027.
Benjamin Rumary Sentenced for £1.2m Fraud at UTI
Benjamin Rumary, former director of UTI Investments UK, has been jailed for seven years for defrauding investors of £1.2 million in a forex trading scam.
Lloyds Bank Axes Select Account, Moves Customers to Classic
Lloyds Bank is discontinuing its Select current account on 31 July 2026, moving customers to Classic and removing the £50 interest-free overdraft perk.
Banking Hub Opens on Harborne High Street
After years of campaigning, a new banking hub has opened on Harborne High Street, providing essential counter services and cash access for the community.
Barclays Profit Soars on Market Volatility
Barclays reports a 17% rise in pre-tax profit to £6.1bn, beating expectations, and announces a £1bn share buyback, driven by strong equities trading amid geopolitical turmoil.
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