Martin Lewis has destroyed an “ancient” myth about how paying National Insurance (NI) goes towards a person’s state pension. A woman called Jill wrote in to his ITV show to voice her frustration that she still has to pay NI despite having contributed enough to get her full state pension. She said: “I have worked […]

Andrew Bailey has said “global shocks” are the biggest threat to the UK economy this year. Speaking during a Treasury Committee session today, Andrew Bailey, governor of the Bank of England said: “The potential for further global shocks is clearly there.” “The events in the Middle East are obviously tragic from an individual point of […]

Flexible workers operating through PAYE will also benefit from the National Insurance tax cut, but many don’t realise they’re entitled to it. Following the recent reduction in employee National Insurance contributions introduced on January 6, experts are urging temporary workers in the UK to check their payslips to ensure they are benefitting from this tax […]

Call waiting times for the government’s tax helplines are worse than during the pandemic, with HM Revenue and Customs (HMRC) now restricting access for millions of taxpayers. Taxpayers have been left waiting hours on the phone just to get through ahead of the self-assessment tax deadline – January 31. HMRC said it faces increased demand […]

Attendance Allowance claimants are set for a cash boost in April in line with the September Consumer Price Index (CPI) inflation figure of 6.7 percentm with the state pension rising by 8.5 percent. This means those recieving the full new state pension as well as Attendance Allowance will be due £1,319 every four weeks. Those […]

The DWP has announced the date people need to check their bank accounts for the Winter Fuel Payment. The payment, which is worth up to £600 this year to put towards energy bills, is distributed by the Department for Work and Pensions (DWP) and most people will receive it automatically. Payments began in November, and […]

HMRC has issued a new warning to cryptocurrency investors that they may have to file a Self Assessment tax return and pay tax due on gains. The warning comes amid concerns that many crypto owners may not be fully aware of the tax implications related to crypto gains and their obligations to declare and pay tax […]

Financial expert Martin Lewis has shared his top tip for converting £1 into £1,000 towards your first home. Martin has urged people who are saving for a home to open a Lifetime ISA (LISA) account using £1. You can put up to £4,000 into a LISA each tax year. In return, the Government will pay […]

Millions of households on Universal Credit and Housing Benefit will soon receive an increase in their housing support worth an average of £800, the DWP has said. This comes as part of the Government’s plans to raise the Local Housing Allowance (LHA) rates in April, forming a crucial component of a £7billion investment over the […]

Pension savers have been urged to fill in an important form to claim tax relief that could be worth thousands of pounds a year. Higher rate tax payers can get an extra 20 percent tax relief on their pension contributions but only if they fill in a self-assessment tax return. A person in this situation […]