DWP Sends £1,330 to 44% of Universal Credit Claimants
DWP Universal Credit caseload hits 8.3 million, with 44% of households receiving £1,330 monthly. Average payment is £1,030 as pressure mounts to cut welfare bill.
Category : Finance Banking
700,000 Face Pension Poverty as Labour Refuses Change
Labour government refuses to raise minimum pension contributions, risking poverty for 700,000. Scottish Widows says 10 million could benefit from increase.
Fuel App Error Costs Drivers £260 Extra at Pumps
Motorists are paying up to 8p more per litre due to outdated fuel price data on apps, costing families an extra £260 annually, research by What Car? reveals.
DWP Urged to Cut Universal Credit for 4.2 Million Claimants
Universal Credit claimants have soared to 8.3 million, with 4.2 million having no work requirements. The Tories call for a crackdown to restore fairness.
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Wolverhampton Lottery Winner Has 5 Months to Claim £120k
A mystery lottery ticket bought in Wolverhampton matched all five main numbers in the Set For Life draw on April 27, winning £10,000 a month for a year. The prize must be claimed by October 24.
DWP £200-£300 Payments for Pensioners Born 1946-1960
Millions of over-65s will receive extra cash payments on top of their state pension. Winter Fuel Payments of £200 or £300 are confirmed for 2026, with eligibility based on age and income.
Barclays Issues 18-Month Warning as UK Spending Falls
Barclays warns of 18-month spending decline as UK households cut back amid global uncertainty. Card spending fell 0.1% year-on-year in April, first drop since 2024.
BBC TV Licence Refund: £180 for UK Households
UK households can claim a £180 TV Licence refund if they cancel after paying in full. The fee rose in April. Apply with one form.
New £225 Car Tax Fee for UK Drivers Confirmed
Chancellor Rachel Reeves has introduced a new £225 car tax fee for drivers in band F, affecting petrol, diesel, and electric vehicles registered between 2001 and 2017.
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Nationwide Issues 24-Hour Alert on Mortgage Rate Cuts
Nationwide and Virgin announce mortgage rate cuts up to 0.36%, following NatWest and Santander, with reductions for first-time buyers and remortgages.
EON and OVO Update on Fixed Tariffs After Takeover
E.On has acquired OVO, creating a giant serving nearly 10 million customers. Customers on fixed tariffs are assured no changes during the regulatory review.
DVLA to Cancel Licences for Over-70s Who Fail Eye Test
The Government plans mandatory eye tests for over-70s, with licences cancelled if they fail. Over 10,000 licences revoked since 2025, as road safety crackdown intensifies.
Lloyds: £3,500 savings possible with digital banking tools
Lloyds Bank research reveals UK households could save £3,500 over 10 years by adopting digital banking tools, with £100 billion available nationally.
UK Households Brace for New Cost of Living Crisis
A PwC survey reveals UK household financial sentiment hit a 2.5-year low in April, with 90% concerned about costs. Under-35s hardest hit, spending cutbacks expected.
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HMRC Targets Savers with £10,000 in Bank Accounts
HMRC is sending tax letters to savers with £10,000 in accounts as 2.8 million paid tax on savings in 2025-26. Basic-rate taxpayers face tax with £20,000 at 5%.
Automatic £150 Energy Rebates for 345,000 Households
The UK government confirms automatic £150 Warm Home Discount for 345,000 Scottish households from winter 2026/27, expanding eligibility and extending the scheme to 2031.
DWP Issues Higher Universal Credit Payments in June
The DWP explains why some Universal Credit claimants will receive an above-inflation increase in June, with payments varying based on assessment periods.
Mortgage Costs Could Rise £3,000 a Year for UK Households
Homeowners may face an extra £3,000 annually on mortgage payments due to Trumpflation, with Bank of England modeling oil prices above $120 and inflation at 6.2%.
Pensioners Keep £20k ISA Limit as Others Face Cut
Chancellor Rachel Reeves announced the cash ISA limit will drop to £12,000 in 2027, but state pensioners aged 65+ retain the £20,000 allowance.
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New £2,000 Pension Salary Sacrifice Cap Hurts Schemes
A new £2,000 yearly cap on pension salary sacrifice from April 2029 is causing 39% of firms to consider scrapping schemes, worsening the UK's under-saving crisis.
Drivers Face £55-£60 Tax Hit After April Fuel Price Surge
Petrol and diesel drivers are facing a £55-£60 tax burden per tank due to rising fuel prices, driven by the Iran war. Diesel prices surged 36.5% in nine weeks, pushing fill-up costs to £134.50.
Nationwide Issues 10-Day Warning Over £100 Bonus Payments
Nationwide has issued a 10-day warning over £100 bonus payments. Members await Fairer Share announcement on May 21, subject to financial performance and board approval.
New DVLA Rules: Tougher Eye Tests for Over-70s
The UK Government announces mandatory eye tests for drivers over 70, with licences revoked if standards not met, aiming to improve road safety.
Thousands Slash Mortgages by £40,000 with Overpayments
67% of UK home buyers use overpayments to become mortgage-free by 40. A £150 monthly overpayment on a £250,000 mortgage can save over £40,000 in interest and cut four years off the term.
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£50,271 Earners Risk HMRC Tax Bill Over Frozen Rule
Yorkshire Building Society warns millions earning over £50,271 face unexpected tax bills due to a frozen Personal Savings Allowance, leaving savers confused and anxious.
UK Savers Risk Losing £322 a Year on Closed Accounts
UK households with savings accounts could lose £322 annually by keeping money in closed accounts. Finance expert urges switching to better rates.
HMRC Fines UK Households £900 After Three-Month Grace Period
Nearly 1 million UK households missed the January 31 tax return deadline, triggering £100 fines. Three months later, extra daily penalties of £10 apply, up to £900.
UK Drivers Face £560 Car Insurance Premium in Q1 2026
UK drivers now pay £560 average car insurance, up £1 from late 2025 but down £20 year-on-year. Repair costs rise 3% as ABI calls for action.
UK savers urged to switch accounts for extra £180 yearly
Skipton Building Society analysis reveals 80 million UK savings accounts earn 0% interest. Switching to top-paying accounts could yield £180 extra annually.
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Energy customers can save up to £230 with simple changes
Households with British Gas, EDF, EON, OVO and Octopus could cut energy bills by up to £230 through small adjustments like using bubble wrap on windows and turning off boiler pre-heat.
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