Households claiming Child Benefit will automatically receive larger payments from tomorrow as rates rise by 6.7 percent. Child Benefit is paid to anyone responsible for someone under the age of 16, or under the age of 20 if they are in approved education or training. In the current tax year, it is worth £1,248 to […]
Experts have suggested that national insurance cuts will somewhat balance out tax increases in Scotland as we approach the new tax year. This difference means Scots earning up to £112,900 will experience lower combined payments compared to last year. However, around 49 percent of taxpayers in Scotland will be faced with larger tax bills starting […]
New Ofgem rules could result in a significant fall in energy bills, experts believe. From June 2025 onwards Ofgem is bringing in new rules for households with smart meters that will require energy companies to “settle” consumer electricity bills. This means that energy companies will have to tally up how much energy a customer has […]
Britons have been urged to be vigilant of scams after a fake HMRC email was reported featuring a bogus link to the Government website. The fake email allegedly from ‘H.M.R.C’ included the message: “We have sent you a letter regarding Energy Bill Support Scheme. Check it today in order to get your funds released.” The […]
Scottish Labour leader Anas Sarwar has lambasted both the SNP and Tories for financial missteps, claiming Scots are now shouldering the burden through increased taxes. From Saturday, nearly half of Scottish taxpayers will be out of pocket compared to their English counterparts, with those on a £30,000 salary paying an extra £11 and those on […]
A pension saver has asked HMRC how the tax rules for taking a lump sum from a pension works and if this could result in a large tax bill. They contacted the tax authority over X to ask: “If a 25 percent lump sum (tax free) is drawn down from a personal pension when eligible, […]
Stock markets ended 2023 on a wave of euphoria, as they celebrated falling inflation. Analysts expected consumer price growth to carry on sliding in 2024, allowing the Bank of England to cut interest rates in March. They anticipated a whopping six interest rate cut across 2024. That would have cut UK base rates from today’s […]
Becoming mortgage free is a financial goal for many home owners and an expert has shared their tips to get out of the debt sooner rather than later. Jinesh Vohra, CEO of free mortgage app Sprive, spoke about five key things people can do to slash years off their mortgage term. Overpay regular small amounts […]
A website has reported a surge in homes being listed for sale in the lead-up to the Easter holidays. Rightmove, the property website, revealed that the Thursday before the Easter bank holiday weekend saw the highest number of new home-sellers listing their properties so far this year. The same day, March 28, 2024, also marked […]
More Brits know the intricacies of the offside rule than know about tax free ISAs, new research reveals. On the day of the ISA deadline, new research from smart money app, Plum found that only 47 percent of people know about basic financial concepts like ISAs whereas 51 percent understand how offside works. The study […]
