UK Savers Losing Thousands in ISA Loyalty Penalty
New analysis reveals millions of UK savers could miss out on up to £13,000 in interest by sticking with outdated Cash ISA accounts, highlighting a significant gap between best and worst rates.
Category : Finance Banking
Couple Saves £7,800 on Mortgage with App Hack
Nick and Sarah Rutter from Suffolk have reduced their mortgage costs by approximately £7,800 over the full term by using the Sprive app to turn everyday spending into automatic overpayments.
NatWest Urges Government Stability for Business Growth
Robert Begbie, NatWest's commercial chief, calls for policy stability to support businesses during global uncertainty, highlighting mid-market firms and accelerator hubs as key economic drivers.
Barclays: Student Debt Cuts Home Savings by £2,000 a Year
A Barclays study reveals student loan repayments reduce home deposit savings by nearly £2,000 yearly, with many graduates struggling to enter the housing market.
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Hidden Banking Costs: Your Account May Be Letting You Down
Many consumers are unaware their bank may be offering low returns and limited perks. A new wave of challenger banks is focusing on rewarding everyday use with better interest rates and cashback.
Common Surnames Lead £270k Unclaimed Estates List
Brits with common surnames like Smith and Jones may be unaware they could claim estates averaging £270,000 from over 5,000 unclaimed properties nationwide, with 253 in the West Midlands.
UK Savers Rush to ISAs as New Threshold Announced
Adult cash ISA balances surged by over £50 billion as non-ISA balances declined, driven by a new threshold announcement and tax concerns, according to Paragon Bank.
Barclays Customers Warned Over 'Frustrating' Cashpoint Issue
A Barclays customer was given £50 notes from a cashpoint, but shops refused them and the bank declined to help as they weren't a customer, highlighting ongoing cash access challenges.
Car Price Transparency Crisis Bigger Than Finance Scandal
Experts reveal a major pricing disparity issue in car dealerships where customers pay thousands apart for identical vehicles, demanding urgent transparency reforms.
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HMRC to Enforce Child Benefit Charge on High Earners
HMRC has issued a reminder about the High Income Child Benefit Charge, which affects UK households earning over £60,000. The charge claws back benefits through the tax system, with full repayment required for incomes above £80,000.
HMRC £473 Alert for One Million with Strict Deadline
HMRC warns one million UK households may be missing out on an average £473 tax refund, with a strict four-year deadline to claim. Check your eligibility now.
1.3 Million Taxpayers Face HMRC Late Payment Charges
New figures reveal that 1.3 million taxpayers were charged late payment interest by HMRC for the 2023/24 tax year, with an average bill of £100.37 and total collections reaching £137.5 million.
HMRC Changes Tax Codes for Savers Due to Higher Interest
HMRC is updating tax codes for individuals with savings interest exceeding their Personal Savings Allowance, collecting tax via PAYE. Over a million savers may be affected.
Drivers Over 70 Warned About Car Insurance Mileage Estimates
Analysis reveals drivers aged 70+ average just 1,665 miles annually. Experts warn overestimating mileage leads to higher premiums, while underreporting risks policy invalidation.
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HMRC Tax Demands for UK Households with £16,000 Savings
Yorkshire Building Society warns UK savers have paid £28 billion in tax on interest since the Personal Savings Allowance was introduced, with basic rate taxpayers accounting for £4.7 billion.
HMRC Urged to Raise Inheritance Tax Gifting Rule to £11,600
Experts call for HMRC to increase the £3,000 annual inheritance tax gifting allowance, which hasn't changed since 1981, to over £11,600 to match inflation and simplify the complex tax system.
Monzo's Urgent ISA Deadline Warning to Customers
Monzo has alerted thousands of customers that they have just 15 days left to use their remaining ISA allowance for the 2025-2026 tax year, or risk losing it. The digital bank offers both Cash ISAs and Stocks & Shares ISAs, with tax-free savings and invest
HMRC's 60% Tax Trap for UK Households Explained
UK households earning over £100,000 face an effective 60% tax rate due to personal allowance tapering, with experts urging pension contributions to mitigate the impact.
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.
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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.
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.
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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.
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.
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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.
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