State Pensioners Get £855 Refunds as HMRC Reveals £624m Unclaimed
HMRC has disclosed that £624 million in tax refunds went unclaimed last year, with state pensioners among 730,000 taxpayers eligible for an average £855 payment.
Category : Finance Banking
PayPal Email Scam: 1p Trick to Drain Bank Accounts
PayPal users are warned about a sophisticated email scam where fraudsters send 1p payments to trick victims into calling fake support numbers and handing over personal information.
HMRC Tax Shake-Up Costs Business Owners £350 Each
Millions of freelancers and landlords earning over £50,000 must now submit quarterly digital tax updates under HMRC's Making Tax Digital scheme, with initial setup costs estimated at £280–£350 per business.
Shoppers Urged to Claim Free £210 Banking Bonus
Martin Lewis and Money Saving Expert highlight a First Direct switching deal offering £175 cash and a £35 supermarket voucher to new customers meeting specific criteria.
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Energy Customers Can Claim £500 Refunds Under Two-Month Rule
Millions of households with British Gas, Octopus, EON, EDF, and Ovo have built up credit in their energy accounts and can request refunds of up to £500 if they exceed two months' worth of payments.
HMRC Taxes £2,700 Savings Interest Couple Never Received
A downsizing couple from the East Midlands faces a £575.40 tax bill from HMRC on £2,700 of savings interest they didn't actually keep due to early withdrawal penalties, sparking outrage over unjust taxation practices.
HMRC Sends Automatic Tax Codes to 2M Pensioners After DWP Change
HMRC has automatically issued new tax codes to two million state pensioners following a DWP rule change, introducing a clawback for those with incomes over £35,000 who receive winter fuel payments.
Claim £855 HMRC Tax Refund Before Deadline
Taxpayers are urged to check for overpaid tax as £624 million in refunds went unclaimed last year. The average refund is £855, with a deadline approaching.
New HMRC Tax Rule Could Push Up Rents, Experts Warn
The UK government's Making Tax Digital system is now live, requiring landlords to keep digital records. Experts warn the compliance costs could be passed on to tenants through higher rents, potentially reducing rental supply.
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Nationwide Warns of Fake Cash with 'For Props Only' Stickers
Nationwide Building Society alerts customers in Birmingham and beyond to a surge in counterfeit banknotes, urging vigilance for notes marked 'for props only' on hologram stickers.
Act Fast on Cash ISAs or Miss £25,000 in Growth
New analysis reveals UK households who invest their full ISA allowance at the start of the tax year could gain £25,000 more than those who wait until the deadline.
E.ON Next's 12-Month Fix Could Save £212 from July
E.ON Next's 12-month fixed tariff could save customers an average of £212 against predicted July price cap increases, as households face wider financial pressures.
NatWest to Shut 37 Branches, Full List of Locations
NatWest has announced the closure of 37 branches across the UK, with 34 confirmed to shut by February 2027. The majority will close by June 2026, citing increased demand for online and mobile banking services.
255,000 Households Face £5,712 Mortgage Shock This Summer
Over 255,000 UK households coming off five-year fixed mortgage deals face an average annual increase of £5,712 due to rising rates and global uncertainty.
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5.6 Million Overpaid £3.5 Billion in Tax After HMRC Errors
Tax code errors have led to an estimated £3.5 billion in overpaid income tax for 5.6 million UK workers during the 2023-24 tax year, with experts urging immediate checks.
Santander £180 Switching Bonus for Birmingham Customers
Santander is providing £180 payments to eligible customers who switch to its current accounts within 90 days. The offer applies to Birmingham branches and requires specific conditions like direct debits and deposits.
HMRC Digital Tax Rules for Freelancers Called 'Humiliating'
HMRC's Making Tax Digital system requires freelancers earning over £50,000 to submit quarterly digital reports, with critics calling the new rules 'humiliating' and excessive government oversight.
80,000 Learner Drivers to Receive Refunds Over Hidden Fees
Over 80,000 learner drivers will receive refunds totaling £760,000 after the CMA fined BSM and AA Driving Schools for adding undisclosed booking fees at checkout.
UK Households Can Gift Any Amount Tax-Free Under Inheritance Tax Rules
HMRC inheritance tax rules permit UK households to transfer substantial wealth to loved ones without tax liability, with experts explaining key allowances and upcoming changes.
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Energy Bills to Rise £24 Monthly for Major Suppliers
Forecasts predict the Ofgem price cap will increase to £1,929, adding £24 monthly to bills for customers of Octopus, British Gas, OVO, EON, and EDF.
HMRC Tax Warning for Pensioners with Private Pensions
HMRC warns state pensioners and workers about tax avoidance schemes targeting private pension savings and complex pay arrangements, highlighting potential 100% tax bills plus penalties.
State Pension Future in Doubt as Demographics Shift
Experts warn that the UK's State Pension system faces collapse due to an aging population and unsustainable finances, urging young people to prepare for alternative retirement funding.
UK Tax System Discourages Work, Hits 700,000 Earners
The OECD warns high marginal tax rates and childcare costs are limiting earnings and economic growth, affecting hundreds of thousands of UK workers.
Martin Lewis Slams 'Duplicitous' Shrinkflation Practice
Money Saving Expert Martin Lewis has condemned shrinkflation as a 'duplicitous' tactic, with consumers calling for it to be outlawed as a form of price deception.
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Martin Lewis: Get Off Price Cap Before July Hike
Martin Lewis warns households to switch from the energy price cap now, as it's predicted to rise 14% in July due to Middle East tensions, potentially adding £480 to annual bills.
Tesco Bank Urges Customers to Withdraw Funds Before Account Closure
Tesco Bank is closing its Clubcard Pay+ prepaid card service on April 26, 2026, urging customers to transfer funds via the mobile app to avoid delays in refunds.
HMRC Begins Random Security Checks on UK Households
HMRC is conducting random security checks on UK households' finances as the new tax year begins, with taxpayers reporting delays and pending returns during verification processes.
NatWest App Glitch Leaves Hundreds Without Money
NatWest has acknowledged a technical issue affecting hundreds of customers, causing money transfers to disappear and leaving accounts overdrawn. The bank assures resolution by Tuesday afternoon.
High Earners Over £60,000 Must Check HMRC Child Benefit Charge
HM Revenue & Customs is reminding parents earning over £60,000 to verify if they owe the High Income Child Benefit Charge, with new digital payment options available through salary deductions.
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HMRC Registration Rule for Tax Agents Starts May 18
From May 18, 2026, HMRC introduces an online registration system for agent services accounts, replacing current methods. Tax agents must register or face penalties and service restrictions.
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