HMRC Pension Allowance Cut Hits 114,000 More Workers
Over 114,000 high earners will lose part of their tax-free pension allowance by 2032 due to frozen thresholds under Andy Burnham's government, analysis reveals.
Category : Finance Banking
State pensioners hit with £33 monthly deductions under Healey
Three million state pensioners face monthly deductions of up to £33 as HMRC claws back Winter Fuel Payments from those earning over £35,000.
Lloyds Bank £190 Boost and £10,000 Prize Draw August
Lloyds Bank launches summer rewards with up to £190 savings on days out, holidays, and dining, plus a prize draw for £10,000 in August.
No Tax on State Pensions But Two-Tier System Created
John Healey confirms state pension-only retirees will be tax-exempt next year, but critics say the policy creates a two-tier system penalising those with small private pensions.
Car finance compensation delayed until 2027 for millions
Millions of motorists awaiting compensation for car finance mis-selling face further delays as the FCA confirms payouts won't begin until at least 2027, amid mounting legal challenges and calls for alternative legal routes.
HMRC 'Tax Rise by Stealth' Warning as Receipts Hit Record
Inheritance tax receipts hit a record £2.3bn from April to June 2026, sparking warnings of a 'tax rise by stealth' as frozen thresholds pull more families into higher tax bands.
Halifax ISA Change: £8,000 Limit Shift from April 2027
Halifax has confirmed upcoming ISA rule changes from April 2027, reducing the effective cash allowance to £12,000 with £8,000 restricted to stocks and shares, while over-65s retain the full £20,000 limit.
DWP State Pension Age Change: Affected Birthdays
The state pension age increases from 66 to 67 starting April 2026, with those born between April 1960 and March 1961 facing a gradual shift. An August milestone affects specific birthdays, and experts warn of income gaps.
£72.5k earners top 10% pay 58.4% of income tax
The top 10% of earners (those making £72,500+ annually) now contribute 58.4% of all income tax, up from 50.3% in 2000, with experts warning of a potential backlash.
Fuel Finder Tool Saves Drivers £40 a Year
Petrol and diesel drivers will save £40 annually using the Labour Party Fuel Finder tool, which mandates real-time fuel price reporting at UK forecourts.
Birmingham Victims in £300k Bank Scam
A fraudster who duped victims out of nearly £300,000 using a sophisticated bank scam has been jailed. Olasukanmi Owoeye operated from a flat in Dartford, targeting over 1,000 potential victims across the UK, including in Birmingham.
£4,000 LISA to pension could boost pot by £180,000
Redirecting your £4,000 Lifetime ISA allowance into your pension could boost your final pot by £180,000, according to Standard Life analysis, as Labour plans to reform LISAs.
Car Finance Crackdown: Millions Await £829 Payouts
Watchdogs crack down on claims management firms as millions of drivers wait for £829 car finance compensation payouts. FCA and ASA lead investigations.
Healey Urged to Cut NI Over Tax-Free Allowance
Tax expert Dan Neidle urges Chancellor John Healey to cut National Insurance rather than raise the personal allowance, which is frozen at £12,570.
Burnham Urged to Introduce 2% Wealth Tax on Super-Rich
A new study urges Prime Minister Andy Burnham to impose a minimum 2% wealth tax on the UK's super-rich, potentially raising £10bn annually from fewer than 1,000 households.
Andy Burnham Confirms £45 Cut to Energy Bills
Prime Minister Andy Burnham announces immediate VAT cut on electricity bills, saving households £45 per year from October, funded by scrapping Digital ID programme.
Pensioners Face £100,000 Tax Bills After Rule Change
Nearly 400 pensioners have been sent tax bills of up to £100,000 after cashing in their pensions ahead of inheritance tax changes planned by Rachel Reeves.
Universal Credit Boost: £760 for Over-25s by 2030
Universal Credit claimants aged 25+ will receive £760 more annually by 2030 under Andy Burnham's government, following a law change by Sir Keir Starmer's administration.
HMRC Confirms 6 Rules to Boost Tax-Free Allowance
HMRC outlines six ways to increase your tax-free allowance beyond £12,570, including Marriage Allowance, dividend income, and rent-a-room relief, potentially saving hundreds of pounds.
Birmingham Couple Wins £333K After Bereavements
A Birmingham couple who moved to a 'lucky' bungalow in Lincolnshire won £333,333 in the Postcode Lottery, days after a £180 pub quiz win, following a series of family bereavements.
Police Seize £4,000 Cash, Arrest Three in Handsworth Raid
Three arrested and £4,000 cash seized after police stop car in Handsworth. Operation Fearless continues crackdown on drugs and crime in the area.
Pay-per-mile EV tax to rise with inflation
The Labour government confirms the new pay-per-mile car tax for electric vehicles, set at 3p in 2028, will increase annually with CPI inflation from 2029-30, impacting drivers with a £240 charge for 8,000 miles.
State Pensioners Can Get £8,509 Annuity Payments
State pensioners aged 55+ can get annuity payments worth up to £8,509 on top of their DWP state pension, as rates hit an 18-year high, says Legal and General.
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Birmingham Man Wins £15M National Lottery Jackpot
A Birmingham man has won £15 million on the National Lottery, making him the city's newest multi-millionaire. The winning ticket was purchased at a local newsagent.
Banks Top UK Customer Satisfaction for First Time
Banks and building societies have overtaken retail in the UKCSI for the first time, with Nationwide Building Society ranking as the top brand for customer service with a score of 87.3.
New BNPL Rules Start Wednesday for UK Users
Buy Now, Pay Later services fall under FCA regulation from Wednesday. Research shows usage surged 3,793% between 2020-2025, and 85% of consumers were unaware of the new rules.
PayPal Launches Pay in 30 Days BNPL for UK Users
PayPal has introduced Pay in 30 Days, a new BNPL option for UK customers on purchases between £1 and £900, giving shoppers up to 30 days to pay with no fees.
New BNPL rules: FCA affordability checks from July 15
From July 15, BNPL firms must be FCA-authorised and conduct affordability checks. 10.9 million UK users face stricter protections, including complaints to the Ombudsman.
iFast Cash ISAs Offer £500 Cashback for Savers
iFast is offering £500 cashback on new Cash ISAs, a top rate in the market. Birmingham savers can benefit from this limited-time deal, with terms and conditions applying.
Eight UK Banks Offer Up to £300 Free Cash for Switching
Eight major UK banks, including Santander, Co-op, and HSBC, are offering customers up to £300 in free cash for switching accounts. Full list and expert advice.
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