HMRC Tax Change to Leave Households £600 Worse Off
New UK Budget changes will increase dividend tax rates from April 6, 2026, impacting business owners and investors with an average £600 annual cost increase.
Category : Finance Banking
Boost Tax-Free Allowance to £20,070 with Rent-a-Room Scheme
UK households can increase their Personal Allowance to £20,070 by earning £7,500 tax-free through HMRC's Rent a Room scheme, applicable for letting furnished rooms.
Nationwide £100 Bonus Deadline: Martin Lewis Urges Action
Nationwide Building Society customers must act before March 31 to qualify for potential £100 Fairer Share loyalty payments, with Money Saving Expert highlighting key criteria.
Nationwide Explains Payment Timelines for Customer Accounts
Nationwide has detailed its payment processing times after a customer reported missing funds. The building society advises that Faster Payments typically arrive within two hours.
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1.3 Million Taxpayers Face Late-Payment Interest Charges
New figures reveal HMRC has collected £137.5m in late-payment interest this tax year, with over 1.3 million taxpayers affected. Experts blame tax system complexity and shrinking allowances.
HMRC Rule Cuts Personal Allowance for High Earners
Workers earning over £100,000 annually face a gradual reduction in their £12,570 tax-free Personal Allowance, losing £1 for every £2 above the threshold, impacting tax liabilities.
Reeves Under Pressure Over Pension Salary Sacrifice Changes
Chancellor Rachel Reeves is urged to soften planned pension salary sacrifice reforms, as the House of Lords increases the cap from £2,000 to £5,000, sparking political back-and-forth.
Nationwide Commits to Branches for Older Customers Beyond 2030
Nationwide pledges to maintain its 605-branch network, emphasizing its importance for older, offline customers and communities as the last bank in many towns.
Premium Bonds Returns Slashed by NS&I
National Savings and Investments reduces Premium Bonds prize fund rate from 3.6% to 3.3% and worsens winning odds, prompting financial experts to suggest alternative savings options.
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HMRC's Two-Week Deadline for Making Tax Digital
Self-employed individuals and landlords earning over £50,000 annually must adopt Making Tax Digital software and submit quarterly updates starting April 6, with thresholds set to expand in coming years.
Lifetime ISA Shake-Up Fears for Self-Employed Workers
The UK government's plan to phase out Lifetime ISAs for a new product raises concerns about retirement savings for self-employed individuals without workplace pensions.
HMRC Urges Check for £1,200 Savings Boost
HM Revenue and Customs is urging UK households on Universal Credit to check eligibility for the Help to Save scheme, which offers up to £1,200 in bonus payments over four years.
HMRC: 1 Million Must Claim £453 Tax Refunds, Scam Alert Issued
HMRC reveals roughly one million people are owed an average £453 each from overpaid tax, but refunds won't be automatic. Taxpayers must claim via Personal Tax Account as officials warn of rising scams targeting the vulnerable.
Save £4,000 on Used Cars by Buying at the 'Sweet Spot'
New data reveals three and four-year-old used cars are seeing price drops up to 28%, with experts identifying this as the optimal buying window for maximum savings.
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HMRC Warning: Don't Get Caught in Tax Avoidance Schemes
HMRC and the Labour government have issued a stark warning to contractors working through umbrella companies, urging vigilance against tax avoidance schemes that could leave workers with substantial tax bills.
Young Drivers Warned Over Car Insurance Mistakes by Ombudsman
The Financial Ombudsman Service reveals over 1,200 complaints from under-25s last year, highlighting policy cancellations, admin issues, and claim delays as top problems. Experts advise reading policies carefully and avoiding common errors like 'fronting'
Switch Now to Dodge April Broadband and Mobile Price Hikes
Millions of UK households can save hundreds by switching broadband and mobile providers before April price increases hit. Uswitch warns of £126 million monthly impact.
Pensions Watchdog Issues Urgent Scam Alert Over Fraud Losses
The Pensions Regulator warns of significant fraud risks, with £500,000 already lost and £2.5 million potentially at stake. Industry professionals are urged to tighten security and report suspicious activity.
Universal Credit Claimants Can Get £1,200 Bonus via Help to Save
Households on benefits can receive up to £1,200 in government bonuses by saving through the Help to Save scheme, which adds 50p for every £1 saved over four years.
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HMRC Tax-Free Allowance Boosted by £1,260 for Couples
The HMRC Marriage Allowance allows couples to transfer £1,260 of their Personal Allowance, potentially saving up to £252 in tax annually. Eligibility criteria and application details explained.
HMRC Sends Tax Demand Letters to UK Households with Savings
HMRC is issuing demand letters to UK households with savings as the Personal Savings Allowance remains frozen. Experts warn savers to consider tax-free ISAs to protect their interest earnings from taxation.
iFAST Bank Launches Multi-Currency Account for Professionals
iFAST Global Bank introduces a multi-currency business account integrated with Xero software, designed for solicitors, accountants, and property managers to streamline financial operations and earn competitive interest.
HMRC Rule Risks 40% Inheritance Loss for UK Families
An expert warns that failing to address inheritance tax when drafting a will could lead to a 40% loss under HMRC's two-year rule, urging families to plan ahead.
UK Drivers: Gas Prices May Double in Three Months
Energy analysts warn UK drivers that wholesale gas prices could double within three months due to Middle East tensions, with potential impacts on winter storage and global LNG competition.
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HMRC Rule Change Creates IHT 'Time Bomb' for Farmers
A new HMRC rule change effective April 6, 2026, will restrict Agricultural and Business Property Reliefs for farmers, potentially forcing families to sell generational land to cover inheritance tax liabilities.
UK Pension Crisis: £72,000 Loss Threatens Millions
A new study reveals one in three UK adults with private pensions have reduced or stopped contributions after major life events, potentially wiping £72,000 from retirement pots.
Bank Wins Customers by Bringing Back Human Touch
Allica Bank is achieving remarkable growth by combining advanced technology with personal relationship managers, challenging the impersonal norms of modern banking with transparent rewards and rapid onboarding.
Martin Lewis Gives ISA Advice During Iran War
Finance expert Martin Lewis offers crucial ISA investment guidance on ITV, addressing market volatility and long-term strategies as geopolitical tensions with Iran unfold.
Middle East War Adds £12bn to UK Interest Bill
The escalating conflict in the Middle East has increased the UK's national interest bill by approximately £12 billion as Gilt yields surge, experts warn of a 'war tax' effect on taxpayers.
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UK Drivers May Be Owed Car Finance Compensation - How to Check
A major investigation into car finance commission arrangements reveals millions of UK drivers may have been overcharged on hire purchase or PCP deals before 2021. Legal experts advise checking past agreements for potential compensation claims.
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