Martin Lewis clarifies UK savings tax rules
Money Saving Expert Martin Lewis explains why hiding cash at home is a bad idea and clarifies exactly how tax on savings interest works for UK savers.
Category : Search result: UK savings crisis
Savings Inertia Could Cost Brits £992 a Year
A new survey reveals over half of Brits haven't moved savings in a year, risking hundreds due to low high street rates. Experts urge action to switch accounts.
New Law Protects Supermarket Savings Schemes
A new UK law now protects money in supermarket savings schemes, preventing a repeat of the 2006 Farepak scandal. Find out which major retailers are affected.
HMRC update on tax discrepancies for state pensioners
HMRC has issued guidance after a state pensioner raised concerns over tax 'discrepancies' on savings interest. Learn about your Personal Savings Allowance and how to resolve issues.
Savers with £5k+ told to act as banks slash rates
UK savers holding over £5,000 with major high street banks are urged to switch to online accounts for better returns as rates are cut. Discover the top three savings accounts now.
HMRC letters for savers with over £3,500
Nearly 900,000 UK savers may receive letters from HMRC to check tax on savings interest. Experts explain your obligations and what to do if contacted.
Savers warned of £8,000 ISA allowance cut
Experts warn of 'unnecessary tax' as the cash ISA limit drops to £12,000 in 2027. Learn how to protect your savings and maximise your personal savings allowance.
Big Bank Savers Urged to Move Money for Better Rates
Money experts warn savers with major high street banks like Nationwide, Lloyds, and NatWest could be missing out on far better interest rates offered by online providers. Discover the top accounts now.
NatWest cuts savings rates from January 19
NatWest is reducing interest rates on multiple savings accounts from January 19, following the Bank of England's base rate cut. Savers are urged to review their options.
UK households warned 'hoarding cash' makes them poorer
New research reveals UK households are among the least financially disciplined, saving under 5% of income. Experts warn hoarding cash is eroding wealth. Discover the data and reasons behind the trend.
Savers lose £333 by sticking with high street banks
Savings expert Matthew Jenkin warns UK bank customers could miss out on £333 interest on £10k by not switching from high street banks. Find out how to maximise your savings in 2026.
5p Money-Saving Challenge Could Save You £3,400
A UK building society reveals a clever savings hack starting with just 5p. By increasing your daily savings by 5p, you could accumulate nearly £3,400 in a year. Discover the easy step-by-step method and other effective saving challenges.
NatWest's £780 Savings Challenge for 2026
NatWest urges UK households to save £780 in 2026 with a monthly savings challenge. Martin Lewis' team also offers a 1p-a-day plan to save nearly £668. Start your financial year right.
First Premium Bonds winners of 2026 announced
NS&I has announced the first Premium Bonds prize winners for January 2026. Check if you're one of the lucky holders from Suffolk or Berkshire who won the £10,000 jackpots.
NatWest cuts interest rates for UK customers
NatWest informs customers of reduced savings interest rates, effective 19 January. The move follows the Bank of England's base rate decision. Learn what it means for your money.
Lloyds Bank offers 6.25% interest savings account
Lloyds Bank launches a competitive 6.25% fixed-rate savings account for eligible Club Lloyds customers. Find out the monthly deposit rules and potential returns.
Savings account 'penalties' exposed in fine print
New research uncovers how hidden conditions and sharp rate drops after 12 months are eroding returns for UK savers. Experts urge caution and recommend flexible alternatives.
Martin Lewis issues tax warning to savers with £20,000
Money expert Martin Lewis warns households with over £20,000 in savings could be taxed on interest due to frozen tax bands. Learn how to protect your savings legally.
ISA Rule Changes: Act Now if You Have Under £12,000
UK households with savings under £12,000 are urged to review their accounts ahead of major ISA rule changes in 2027. Experts advise using your tax-free allowance now to maximise long-term growth.
Triple Tax Whammy to Cost UK Savers £2,380
Millions face higher tax bills as Labour cuts Cash ISA allowance to £12,000, freezes savings allowance & hikes rates. See how it impacts you.
Millions lose £1,000 by keeping cash in low-interest accounts
Yorkshire Building Society warns 12 million UK current accounts pay 1% or less. Moving savings could have earned £1,000, covering Christmas costs. Act now to boost your interest.
Nationwide's £690 Savings Update for Customers
Nationwide Building Society reveals how savers can secure a potential £690 boost. Learn how to maximise your returns with specific accounts before the new financial year.
NatWest 1p Challenge: Save £668 in a Year
NatWest promotes a simple 1p daily savings challenge, endorsed by Martin Lewis, that can grow to £667.95 in a year. Learn how small daily steps can build a significant nest egg.
Monzo's £10,000 Savings Challenge Returns for 2026
Monzo relaunches its popular 1p daily savings challenge with a £10,000 prize for one lucky saver. Over 1.7 million customers saved £360m this year. Learn how to join.
Best 28 savings accounts for UK households after Christmas
Moneyfactscompare unveils the best savings rates for the week of Dec 29, 2025. Expert urges switching to beat inflation. Discover top regular, fixed-rate and Cash ISA deals.
Asda Express fuel offer ends Dec 31: final chance to save
Motorists have just three days left to use Asda Express's 3p-per-litre fuel discount. Save on petrol while grabbing last-minute New Year's Eve party supplies. Act now before the offer expires.
Union Chief: Gov Must Focus on Cost-of-Living in 2026
TUC leader Paul Nowak urges the Government to prioritise living standards in 2026, warning of political consequences. Survey reveals one in five skip meals daily.
HMRC's 0% tax band on £5,000 savings income explained
HMRC has clarified the 'starting rate for savings', a 0% tax band on up to £5,000 of savings income for eligible UK households. Find out if you qualify and how it works.
NatWest's Three Savings Challenges Can Net You £1,378
NatWest reveals three simple savings challenges, including a 52-week plan, that could help UK customers build a pot of up to £1,378. Start your savings habit today.
ISA rule change hits 2 million with higher tax
A new ISA limit of £12,000 from April 2027 means millions could pay tax on savings interest. See how basic and higher-rate taxpayers are affected.
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