Santander: Money Mule Scams Risk 14 Years in Prison
Santander issues urgent warning as criminals target young adults with money mule schemes via social media and fake job ads, risking prison and financial ruin.
Category : Finance Banking
HMRC Cuts Tax-Free Savings Allowance to £500
HM Revenue & Customs has reduced the Personal Savings Allowance to just £500 for higher rate taxpayers, while basic rate taxpayers retain £1,000. The changes affect how much interest UK savers can earn tax-free each year.
HMRC Warning for Home Office Expense Claims
HMRC has issued a critical warning to remote workers about claiming tax relief for home office expenses, urging them to avoid third-party companies and check eligibility directly.
Pensioners Can Get £20,000 Tax-Free Allowance from HMRC
UK state pensioners can boost their personal tax-free allowance to over £20,000 by using HMRC's Rent-a-Room Scheme combined with standard allowances, offering relief amid frozen tax thresholds.
NatWest Pledges £8 Million for Debt Advice Organisations
NatWest Bank has announced an £8 million funding boost for debt advice charities PayPlan and StepChange to support customers and communities facing financial difficulties across the UK, including Birmingham.
Nationwide's Rules for Depositing Old £1 Coins Explained
Nationwide Building Society has issued clear guidance for customers wishing to deposit old round £1 coins at branches, detailing daily limits and identification requirements for cash and cheque transactions.
UK Drivers to Get £700 Compensation for Finance Mis-Selling
Up to 14 million motorists who purchased cars on finance between 2007 and 2024 could receive average payouts of £700 this year due to unfair commission arrangements.
Octopus Energy Customers Slam 'Shameful' £75 Exit Fees
Octopus Energy faces backlash after introducing exit fees up to £75 for new fixed contracts, with customers calling the move 'shameful' amid volatile energy markets.
New Banks Reward Customers with Cashback and High Interest
A new generation of challenger banks is transforming UK banking by offering accounts that actively reward customers with cashback, competitive interest rates, and personalized support, moving beyond traditional services.
Octopus Energy CEO Responds to Martin Lewis on £75 Fees
Octopus Energy has raised exit fees for fixed-rate tariffs from zero to £75, prompting a social media exchange between CEO Greg Jackson and money expert Martin Lewis.
John Lewis Now FCA-Authorized Insurance Broker
John Lewis Money has become an FCA-authorized insurance broker, expanding its offerings to over 1.4 million customers with more choice and competitive pricing.
Royal London Reports Record £199bn Assets, Profit Up 18%
Asset management giant Royal London announces record £199bn assets under management and an 18% rise in operating profit, driven by Dalmore Capital acquisition and strong market performance.
Martin Lewis on Nationwide's £100 Payment Eligibility
Money saving expert Martin Lewis has issued important guidance for Nationwide customers hoping to qualify for the building society's annual Fairer Share payment, expected to be £100 or £150 in 2026.
Nationwide Mortgage Rate Hike Hits Birmingham Customers
Nationwide Building Society, the UK's largest mutual with branches in Birmingham, has increased selected fixed mortgage rates by up to 0.25% due to rising swap rates from Middle East tensions, impacting first-time buyers and remortgagers.
Nationwide Boosts ISA Rates for 16 Million Members
Nationwide Building Society announces significant ISA rate increases and new account launches, offering competitive returns to its vast membership base from March 6, 2026.
Pensions Crisis: Thousands Run Out of Savings in 4 Years
A new analysis reveals a stark gender pension gap, with women's savings lasting only four years compared to men's 14 years, highlighting a looming financial crisis for retirees.
Newcastle Building Society Growth and 2026 Headwinds Warning
Newcastle Building Society's 2025 results show strong mortgage lending and retail savings growth, but profits dipped due to costs. CEO warns of economic headwinds in 2026.
Yorkshire Building Society Launches New Savings Accounts
Yorkshire Building Society introduces two new savings accounts with interest rates up to 4.05%, featuring flexible withdrawal options and accessible opening requirements.
Energy Giants Scrap Fixed Deals Amid Iran War Price Surge
British Gas, OVO, and Scottish Power have withdrawn all fixed-price energy tariffs as wholesale costs spike due to Middle East conflict, with bills forecast to rise 10%.
UK Banks Raise Mortgage Rates Amid Middle East Crisis
HSBC, Nationwide, and Coventry Building Society have increased mortgage rates due to Middle East conflict impacts on funding costs, with brokers warning more lenders may follow.
Savings Tax Warning: Frozen Bands Impact Households
Households with savings face tax implications as Chancellor Rachel Reeves maintains frozen tax bands, potentially affecting thousands with £10,000+ in accounts.
IG Urges Scrap of 'Brutal' £100,000 Tax Rule for Families
IG Group demands Chancellor Rachel Reeves overhaul HMRC's 'brutal' £100,000 tax cliff edge, where families lose childcare benefits, with 82% actively avoiding breaching the threshold.
Lloyds Bank £200 Switch Bonus: Three Groups Excluded
Lloyds Bank is providing a £200 incentive for customers switching to Club Lloyds or Premier accounts, but excludes those who received similar offers since 2023. Requirements include direct debits and spending thresholds.
E.ON Offers UK Customers £100 Savings Amid Conflict
E.ON introduces new fixed and pledge tariffs, providing savings and price stability as energy bills are set to fall from April 2026 due to Ofgem and government actions.
Octopus Energy Introduces £75 Exit Fee for Fixed Tariffs
Octopus Energy faces backlash after hiking exit fees from zero to £75 for customers leaving fixed-rate tariffs, citing volatile market conditions as the reason.
Solihull Boss Denies Fraud Over Funeral Plan Money
Two executives from the collapsed Safe Hands funeral plan provider have pleaded not guilty to fraud charges, accused of moving customer funds to the Cayman Islands and purchasing a luxury property through deception.
Mortgage Rates Rise as HSBC and Coventry React to Market
HSBC and Coventry Building Society increase fixed mortgage rates due to rising swap rates driven by Middle East geopolitical tensions, with brokers warning more lenders may follow.
Lloyds and Halifax Close 100+ UK Branches in 2026
Lloyds Banking Group confirms 108 branch closures across the UK in 2026, with Birmingham losing multiple locations as digital banking expands.
Seven-Step Pension Plan Adds £257,000 to Retirement Pot
A financial expert reveals a simple seven-step action plan that could significantly increase pension savings. The guide covers fund tracking, risk assessment, and fee management to help savers maximise their retirement income.
Entain Swings to £681m Loss After Budget Tax Hit
Ladbrokes owner Entain has swung to a £681m annual loss after booking a £488m impairment charge linked to UK gambling tax increases announced in November's Budget. Despite the setback, net gaming revenue grew 3% to £5.33bn.
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