Money news in 2025
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- December 2025
Councils gain increased investigation powers under the Renters' Rights Act 2025
Councils in England have had increased investigation powers since 27 December 2025 to request documents, access third-party data and inspect properties in the private rented sector.
First changes under the Renters' Rights Act take effect
The Renters' Rights Act became law in October 2025 and some of its changes took effect from 27 December 2025, with the first phase of wider rules due from 1 May 2026.
Welsh Government publishes flood insurance consultation report
The Flood and Coastal Erosion Committee has published a consultation report and proposals on flood insurance in Wales, setting out a Welsh perspective on Insurance and Flood Re.
FCA launches firm checker tool to help consumers avoid scams
The Financial Conduct Authority has launched a new firm checker tool so consumers can confirm whether a financial services firm is authorised and holds permission to sell products and services.
FCA and PSR jointly respond to HM Treasury's payments regulation recommendations
The FCA and the Payment Systems Regulator have jointly answered HM Treasury's November 2024 recommendations on payments regulation, publishing their response on 17 December 2025.
November 2025 UK consumer price inflation time series published
The Office for National Statistics has published its November 2025 time series of UK consumer price inflation measures, covering CPIH, CPI and RPI, as accredited official statistics.
FCA publishes Mortgage Rule Review Feedback Statement and Roadmap with 2026 consultation areas
The FCA has published its Mortgage Rule Review Feedback Statement and Roadmap, setting out targeted reforms for first-time buyers and the self-employed and areas for consultation in 2026.
Consumer Scotland responds to FCA consultation on motor finance consumer redress scheme
Consumer Scotland has told the FCA's motor finance redress consultation that compensation should match court levels, that the scheme must be free to access and that lenders should chase customers.
Motor Insurance Taskforce final report published without action on low-income households
The Motor Insurance Taskforce has published its final report, and Fair By Design says it leaves low-income households facing the highest car insurance charges without action on targeted discounts.
FCA launches Firm Checker tool
The Financial Conduct Authority has launched Firm Checker, a tool for consumers to confirm whether a financial services firm is authorised and holds the permissions it needs, aimed at helping people avoid scams.
Government publishes Child Poverty Strategy
The government has published its Child Poverty Strategy, Our Children, Our Future, restating the removal of the two-child limit on Universal Credit and setting out measures on child maintenance, childcare and family incomes.
Resolution Foundation corrects Budget special welfare spending figure
The Resolution Foundation has corrected its Budget analysis, saying welfare policy over this Parliament cuts spending by £0.5 billion in 2029-30 rather than increasing it by £0.7 billion.
Announcement that the 2-child limit will end from April 2026
The Department for Work and Pensions has confirmed that the Universal Credit two-child limit will end from April 2026, with the extra child amount paid for every child from that point.
FCA confirms complaints pause will end on 31 May 2026
The Financial Conduct Authority has confirmed that the pause on firms handling motor finance commission complaints will end on 31 May 2026, with lenders then required to respond to complaints.
30 free hours childcare extended in England
From September 2025 eligible working parents in England can claim 30 hours of free childcare a week for children aged nine months to school age, extended from the previous 15 hours.
Administrators to stop all Premier Insurance policies
Administrators of the failed Gibraltar-based insurer Premier Insurance plan to stop all remaining policies on 1 December 2025, leaving thousands of mainly motor customers needing new cover.
Business and personal Standards of Lending Practice ended in 2025
The Lending Standards Board's business and personal Standards of Lending Practice both ended in 2025 as the body wound down, after the CRM Code closed in 2024 and the Access to Banking Standard in 2021.
Capita due to take over administration of the Civil Service Pension Scheme
Capita began administering the Civil Service Pension Scheme in December 2025 under a contract awarded in 2023, and a backlog of 120,000 cases has left some members waiting for payments.
Consumer credit borrowing slowed in December 2025
Bank of England figures show net consumer credit borrowing fell to £1.5 billion in December from £2.1 billion in November, with credit card borrowing down to £0.7 billion.
DWP to send all migration notices by end of December 2025
The Department for Work and Pensions has said all migration notices should be sent by the end of December 2025, with the managed migration process completed by Spring 2026.
ESA claimants to be invited to claim Universal Credit by end of 2025
People still receiving income-related Employment and Support Allowance will be invited to claim Universal Credit by the end of 2025, according to Age UK's record of benefits changes.
FCA aims to finalise new advice rules by end of 2025
The Financial Conduct Authority says it aims to finalise rules on targeted support and simplified advice by the end of 2025, with targeted support scheduled to launch in March 2026.
High-cost-to-heat threshold removed for Warm Home Discount in England and Wales for winter 2025/26
The high-cost-to-heat test for Warm Home Discount eligibility in England and Wales was removed for winter 2025/26, with around 6 million households estimated to receive the £150 rebate.
HSBC Life (UK) Limited acquired by Chesnara plc and renamed Chesnara Life (UK) Ltd
HSBC Life (UK) Limited has been bought by Chesnara plc and renamed Chesnara Life (UK) Ltd, with policyholders and advisers notified by letter or email during December 2025 and January 2026.
Mortgage approvals for house purchase fell in December 2025 while remortgaging approvals rose
Bank of England data show net mortgage approvals for house purchase fell by 3,100 to 61,000 in December 2025, while remortgaging approvals rose by 1,600 to 38,400.
Planned PIP eligibility changes postponed from November 2026
The government has dropped plans to tighten the daily living scoring rules for Personal Independence Payment from November 2026, replacing them with a wider review of the benefit.
Public consultation on DWP Code of Practice opens
A public consultation on the Department for Work and Pensions Code of Practice for new benefit eligibility verification powers opened in December and runs until 27 February 2026.
Scottish core group criteria aligned with Winter heating payment benefits
Ofgem has confirmed that the Warm Home Discount core group criteria in Scotland are aligned with the qualifying benefits used for the Scottish Winter heating payment as of December 2025.
Virgin Money investments and pension business sold to Octopus Money
Virgin Money's investments and pension business was sold to Octopus Money on 1 December 2025, a sale separate from the transfer of Virgin Money's banking business to Nationwide.
Winter Heating Payment 2025/26 payments begin
Winter Heating Payment for 2025/26 began reaching eligible households in Scotland from mid December 2025, with most payments completed by the end of February 2026.
Winter heating payment to be paid in Scotland from December 2025
Scotland's winter heating payment, a one-off £59.75 for eligible households, is being paid from December 2025, with most payments completed by the end of February 2026.
- November 2025
DISP 2.7.7 guidance updated on APP fraud and pension beneficiary complaints
The Financial Conduct Authority has updated handbook guidance to confirm that Financial Ombudsman Service complaints can cover a firm's failure to prevent or respond to alleged authorised push payment fraud.
FSCS deposit protection limit rises to £120,000
The Prudential Regulation Authority has confirmed that FSCS deposit protection rises from £85,000 to £120,000 per person, per authorised firm, for firms failing on or after 1 December 2025.
Autumn Budget 2025 announces NICs measures
The Autumn Budget on 26 November 2025 extended the freeze on most National Insurance limits to 2031, capped salary sacrifice relief from 2029 and removed Class 2 voluntary contributions from abroad.
Autumn Budget 2025 announces tax-free savings changes
The Autumn Budget on 26 November 2025 held the £20,000 ISA allowance until April 2031 but set a £12,000 cash ISA limit for under-65s from April 2027 and raised savings tax rates.
Chancellor delivers autumn budget 2025 with £26.6bn of tax rises by 2030/31
Rachel Reeves delivered her second budget on 26 November 2025, with tax decisions forecast to raise £26.6bn by 2030/31 and personal tax thresholds frozen for a further three years.
Department for Education confirms updated student loan repayment thresholds for Plan 2 and Plan 3 from April 2026
The Department for Education confirmed on 26 November 2025 the student loan repayment thresholds for Plan 2 and Plan 3 loans that apply from April 2026, including £29,385 for Plan 2.
Government accepts LPC minimum wage recommendations at Autumn Budget
The Government accepted the Low Pay Commission's recommended minimum wage rates at the Autumn Budget on 26 November, raising the National Living Wage for workers aged 21 and over to £12.71 an hour from April 2026.
Government announces minimum wage rates for April 2026
The Government has accepted the Low Pay Commission's recommendations in full, raising the National Living Wage for workers aged 21 and over to £12.71 an hour from April 2026.
Government announces removal of the two-child benefit cap in Budget
The Chancellor announced in the Autumn Budget that the two-child limit in Universal Credit will be abolished from April 2026, with legislation now before Parliament and Northern Ireland consent sought.
Government extends income tax and National Insurance threshold freeze by three years
The 2025 Budget extended the freeze on income tax and National Insurance thresholds by three years, taking it beyond its scheduled April 2028 end date and prompting dispute over Labour's manifesto pledges.
Publication of child low income poverty projections to FYE 2030
The Department for Work and Pensions has published projections of child low income poverty trends to the financial year ending 2030, accounting for the removal of the two-child limit announced in November 2025.
Publication of poverty impact estimates for Budget 2025 social security changes
The government has published estimates of how removing the two-child limit from April 2026 would affect low income poverty levels, alongside figures on affected households by nation and constituency.
Salary sacrifice pension contributions above £2,000 to face National Insurance from April 2029
The government will cap the amount of salary sacrifice pension contributions exempt from National Insurance at £2,000 a year from April 2029, under changes announced at Autumn Budget 2025.
Tax Information and Impact Note published for the Winter Fuel Payment Charge measure
A Tax Information and Impact Note on the Winter Fuel Payment Charge was published on 26 November 2025, alongside clause 55 and Schedule 10 to the Finance (No. 2) Bill 2025.
Up-rating decisions announced to Parliament
The Social Security Benefits Up-rating Order 2026 raises the basic and new State Pensions by 4.8% and most working-age and disability benefits by 3.8% from April 2026, at a total cost of £11 billion.
Government accepts key recommendations of Sayce review on Carer's Allowance overpayments
The government has accepted key recommendations of the Sayce review into Carer's Allowance overpayments, with most affected carers to have their cases reassessed automatically and repayments potentially refunded.
Independent Review of Carer's Allowance Overpayments published with government response
The government has published an independent review into Carer's Allowance earnings-related overpayments, led by Liz Sayce OBE, alongside its response, with a reassessment exercise beginning 13 April 2026.
PayPal launches UK debit card, credit card and PayPal+ loyalty scheme
PayPal has launched a UK debit card, a credit card and a points scheme called PayPal+, with rewards of up to 1.5% on selected purchases at the higher tiers.
Fair4All Finance responds to three consultations on FOS reform and redress modernisation
Fair4All Finance has published responses to three consultations on reforming the Financial Ombudsman Service and modernising the UK redress system, backing closer FCA alignment and changes to case fees.
Trustpilot removes fake reviews and warns flagged firms
Trustpilot removed further fake reviews, warned four firms and placed permanent consumer warnings on their profiles after Which? reported recovery scammers targeting scam victims on the platform.
Q3 2025 mortgage and landlord possession statistics published
Mortgage repossessions in England and Wales rose 40 per cent year on year in July to September 2025, while landlord repossessions rose 9 per cent, even as new claims for both fell.
Which? warns recovery scammers target scam victims on Trustpilot
Which? has warned that recovery scammers are targeting scam victims on Trustpilot, after finding six unregistered reimbursement firms promoted through suspicious reviews.
Public Law Project publishes report on Universal Credit sanctions regime
The Public Law Project published a report on 12 November 2025 titled "Sanctionable Failures", which characterises the Universal Credit sanctions regime as failing and refers to harm it causes.
Winter Fuel Payment eligibility rules changed
Winter Fuel Payment eligibility was widened last winter so that people over State Pension age no longer need to receive a means-tested benefit, with payments recovered from those on incomes above £35,000.
Work and Pensions Committee launches inquiry on pre-pension income gap support
The Work and Pensions Committee has opened an inquiry into support for people below State Pension age, as the pension age rises from 66 to 67 from April, with evidence due by 19 December 2025.
New ADP applications required for remaining PIP claimants in Scotland
People in Scotland still receiving Personal Independence Payment must apply for Adult Disability Payment themselves from 6 November 2025, after Social Security Scotland finished transferring claimants.
UK Government publishes Financial Inclusion Strategy
The Treasury published its Financial Inclusion Strategy on 5 November 2025, covering access to affordable financial products and compulsory financial education in primary schools in England.
Consumer Scotland responds to Ofgem consultation on lower standing charge tariffs
Consumer Scotland has backed a temporary Ofgem requirement for suppliers to offer a lower standing charge tariff, urging a two year review and warning that costs could be redistributed between consumers.
£130 energy bill discount announced from next year
The Chancellor has announced a £130 discount on energy bills from next year, funded for three years, with £55 set to be added back onto electricity bills in 2029-30.
Annual growth of credit card borrowing reached 12.1%, the highest since January 2024
Bank of England data show annual growth in credit card borrowing rose to 12.1% in November 2025, the highest since January 2024, as consumer credit and mortgage borrowing both increased.
Autumn Budget 2025 announces Cash ISA allowance reduction from April 2027
The government has confirmed that from 6 April 2027 the Cash ISA allowance for under-65s will be £12,000, with anti-circumvention rules covering transfers, cash-like assets and interest on cash held in non Cash ISAs.
Budget 2025 announced NICs thresholds frozen until 2030-31
Budget 2025 extended the freeze on Income Tax and National Insurance thresholds for a further three years, with the main personal allowance and higher rate threshold held until 2030-31.
Budget 2025 announces changes to income tax, duties and allowances
Budget 2025 raises dividend tax from April 2026 and savings and property income tax from April 2027, freezes personal allowances to 2031 and adds new duties on vaping and gambling.
Chancellor announces freeze of student loan repayment threshold at 2025 Budget
The Chancellor announced at the 2025 Budget that the student loan repayment threshold of £28,470 will be frozen for three years from April 2027, with a Treasury Committee inquiry into graduate taxation following in March 2026.
Cold Weather Payment 2025 scheme opens
The Cold Weather Payment scheme for 2025 opens in England, Wales and Northern Ireland in November, one of a series of benefit changes listed in a timetable published by Turn2us.
Effective rate on newly drawn mortgages rose for the first time since February 2025
The Bank of England says the effective interest rate on newly drawn mortgages rose to 4.20% in November, the first increase since February 2025, as mortgage borrowing and credit card growth also picked up.
Experian revamps its credit score to a maximum of 1,250
Experian has expanded its credit score range from 0-999 to a maximum of 1,250, with new bands and features rolling out to customers from November and completing by the end of the year.
UK government announces removal of the two-child limit
The UK government has announced the two-child limit will be removed from April 2026, so families can receive the Universal Credit child element for all children regardless of family size.
Help to Save made permanent and set for expansion
The Government has confirmed Help to Save will become permanently available to new savers and will be widened from April 2028 to all Universal Credit households receiving the child or carer's element.
LHA failed to cover rent for over half of private renters on Universal Credit in England
Local Housing Allowance did not cover rent for 54% of private renters claiming Universal Credit in England by November 2025, the Joseph Rowntree Foundation has reported.
Net mortgage borrowing by individuals rose to £4.5 billion in November 2025
Net mortgage borrowing by individuals rose to £4.5 billion in November 2025, up from £4.2 billion in October, while the effective interest rate on newly drawn mortgages increased for the first time since February 2025.
Ofgem publishes statutory consultation on a Debt Relief Scheme
Ofgem has published a statutory consultation on a Debt Relief Scheme, setting out proposals for targeted relief for households in the most acute energy debt.
Pension Age Winter Heating Payment expected to launch in Scotland
Scotland's Pension Age Winter Heating Payment replaced the Winter Fuel Payment, with the first payments made in the winter of 2025 and rates for 2026/27 set by age and household circumstance.
Personal Allowance freeze extended to 2030 to 2031 at Autumn Budget 2025
The Personal Allowance stays at £12,570 through to 2030 to 2031 after the freeze was extended at Autumn Budget 2025, with the number of Income Tax payers projected to reach 40.8 million.
Personal tax threshold freeze extended by three years
The freeze on personal tax thresholds was extended by three years to 2030-31 in the 2025 Autumn Budget, keeping the personal allowance at £12,570 and the higher rate starting point at £50,270.
PRA confirms final rules on deposit compensation limit increase
The Prudential Regulation Authority confirmed final rules in November 2025 raising the FSCS deposit compensation limit to £120,000, effective for firm failures from 1 December 2025.
Salary sacrifice pension contributions NICs exemption capped from April 2029
The Government Actuary has set out the effect of the November 2025 Budget measure that caps the National Insurance exemption for salary sacrifice pension contributions at £2,000 a year from April 2029.
Scotland first part of UK to see over half of bank and building society branches close
Consumer Scotland says Scotland became the first part of the UK where more than half of bank and building society branches have closed, with 722 of 1,041 shut and 18 more due to close as of November 2025.
StepChange updated its Breathing Space suitability criteria, reducing registrations
StepChange changed its Breathing Space suitability criteria in November 2025, and Insolvency Service figures show registrations for the debt respite scheme running well below year-earlier levels through 2026.
Warm Home Discount scheme opens for 2025-26 winter
The Warm Home Discount scheme for winter 2025-26 is open, giving eligible households in England, Wales and Scotland a one-off £150 discount on their energy bill.
Welsh Government issues resultant proposals on flood insurance in Wales
The Wales Flood and Coastal Erosion Committee has published seven resultant proposals on flood insurance in Wales, covering uninsured properties, Flood Re eligibility and support for those outside the scheme.
Winter Fuel Payments to be made from November 2025
Winter Fuel Payments become universal in England and Wales from winter 2025/26 under regulations laid in August 2025, with payments from November 2025 and recovery from pensioners with taxable income over £35,000.
- October 2025
BSA research finds 29% of aspiring homeowners believe they will never own a home
Building Societies Association research published on 30 October 2025 found 29% of people who want to buy a home believe they never will, with deposits, repayments and stamp duty cited as barriers.
Attendance Allowance replaced by Pension Age Disability Payment in Scotland
Attendance Allowance has been replaced in Scotland by Pension Age Disability Payment, a devolved benefit for people over State Pension age with care needs, paid at two weekly rates.
Low Pay Commission submits 2026 minimum wage recommendations
The Low Pay Commission submitted its recommended minimum wage rates for April 2026 to the Government on 27 October 2025, proposing a National Living Wage of £12.71 an hour for workers aged 21 and over.
Renters' Rights Act 2025 receives Royal Assent
The Renters' Rights Act received Royal Assent on 27 October 2025, changing the law on rented homes in England, with most provisions due to take effect from 1 May 2026.
Scottish Government submits evidence to independent State Pension age review
The Scottish Government has sent evidence to the independent State Pension age review, citing lower life expectancy in Scotland, pensioner poverty, demographic change and unpaid compensation for 1950s-born women.
Treasury Committee publishes report recommending no cut to Cash ISA limit
The Treasury Committee has told the Government not to cut the Cash ISA limit, concluding that a lower allowance is unlikely to move significant sums from cash savings into investments.
Work and Pensions Committee publishes Government response to Pathways to Work report
The Work and Pensions Committee has published the Government's response to its Pathways to work report, with its Chair warning that UC Health changes could push disabled people into poverty.
NAO publishes value for money report on DWP's tackling of benefit overpayments due to fraud and error
The National Audit Office says benefit overpayment levels remain too high but improved in 2024-25, and that the Department for Work and Pensions must now turn its strategy into effective implementation.
AWS outage disrupts Lloyds Banking Group online and mobile banking
An Amazon Web Services outage on 20 October 2025 disrupted online and mobile banking at Lloyds Bank, Halifax and Bank of Scotland, with some services later restored.
BSA publishes Budget submission warning against Cash ISA limit cuts
The Building Societies Association has told the Treasury that cutting the annual Cash ISA limit would penalise savers and could reduce mortgage lending and economic output.
Original version of this briefing published
The Joseph Rowntree Foundation has republished its Universal Credit briefing after the two-child limit was scrapped, correcting a coding error that affected the poverty impacts in the original version.
Consultation on the review of the Financial Ombudsman Service closes
The government's consultation on reforming the Financial Ombudsman Service, including a proposed 10-year absolute time limit for complaints, closed on 8 October 2025.
Consumer Scotland responds to HM Treasury consultation on the review of the Financial Ombudsman Service
Consumer Scotland has told HM Treasury it opposes a 10 year absolute time limit for Financial Ombudsman Service complaints, a merger of the ombudsman with the FCA, and new FCA referrals.
FCA launches consultation on proposed car finance redress scheme
The Financial Conduct Authority has opened a consultation on an industry-wide compensation scheme for motor finance customers overcharged on car finance deals taken out between April 2007 and November 2024.
Government consults on homebuying and selling reform
The Ministry of Housing, Communities and Local Government has opened a consultation on reforming home buying and selling in the UK, covering upfront information, binding contracts and estate agent regulation.
Share of pension pots accessed with advice falls to lowest level in six years
FCA retirement income data shows only 31% of the 962,000 pension plans first accessed in 2024-25 were taken after regulated advice, the sixth consecutive annual fall.
HMRC restarts taking tax debts directly from bank accounts
HMRC has relaunched its Direct Recovery of Debts power, allowing it to take unpaid tax directly from bank accounts and cash Isas in a test and learn phase after pandemic suspension.
Age UK updates winter money guidance for winter 2025-26
Age UK has updated its winter money guidance for 2025-26, confirming that households with someone born on or before 21 September 1959 can receive the Winter Fuel Payment without claiming a means-tested benefit.
Consumer credit borrowing decreases for second consecutive month
Bank of England data show net consumer credit borrowing fell to £1.1 billion in October, a second monthly decline, while mortgage approvals for house purchase also edged lower.
Energy price cap to rise 2% to £1,755 for Q4 2025
The Ofgem energy price cap for a typical household rises 2% to £1,755 a year for the final quarter of 2025, taking effect on 1 October.
Gingerbread delivers open letter on CMS to the Minister
Gingerbread has delivered an open letter signed by more than 1,600 supporters to Baroness Sherlock, the minister responsible for the Child Maintenance Service, setting out five principles for its consolidation.
Guidance updated for Digital Markets, Competition and Consumers Act 2024
Trading standards guidance for England, Scotland and Wales was updated in October 2025 to reflect the Digital Markets, Competition and Consumers Act 2024, though its redress provisions are not yet in force.
HMRC begins sending Simple Assessment letters
HMRC began issuing Simple Assessment letters in October 2025, setting out tax owed on 2024/25 income for people who do not file a Self Assessment return.
Independent review of APP reimbursement policy to begin
An independent review of the mandatory reimbursement policy for authorised push payment fraud will begin in October 2025, after the first three months of the scheme saw 86% of losses refunded.
Mortgage borrowing and remortgage approvals fall in October 2025
Bank of England figures show net mortgage borrowing fell to £4.3 billion in October 2025, with remortgage approvals dropping to 33,100, the lowest since February 2025.
Payments made automatically from early October 2025
Most Child Winter Heating Payments in Scotland are being made automatically from early October 2025, with the payment set at £255.80 for winter 2025/26.
PSR decides not to proceed with interim cap on cross-border interchange fees
The Payment Systems Regulator has dropped plans for a short-term cap on UK to EEA cross-border interchange fees, citing litigation over its powers, and will work on a longer-term cap instead.
Public Services Committee publishes Reforming the Child Maintenance Service report
The House of Lords Public Services Committee has published a report on reforming the Child Maintenance Service, calling for changes to calculations, enforcement and communication after an inquiry.
Warm home discount scheme reopens for winter 2025
The Warm Home Discount, which gives £150 off electricity bills in England, Scotland and Wales, reopens in October 2025 after being closed, according to two advice organisations.
- September 2025
Consultation on continuing the Warm Home Discount Scheme opens
The government has confirmed the Warm Home Discount will continue for a new five-year period from winter 2026/27 to 2030/31, after a consultation that ran from 25 September to 20 November 2025 and drew 93 responses.
Share of savings accounts beating inflation falls to 49%
Which? analysis published on 22 September 2025 found the share of savings accounts paying rates above inflation fell from 80% in January to 49%, as UK Savings Week began.
ONS publishes Housing Purchase Affordability, UK: 2024 bulletin
The Office for National Statistics has published housing purchase affordability figures for the financial year ending 2024, showing ratios fell in all four UK countries but remain far above their long-run levels.
Warm Home Discount Regulations amended by S.I. 2025/1031
The Warm Home Discount (Amendment) Regulations 2025 amended the England and Wales scheme rules on 18 September 2025, changing which supplier duties and Secretary of State powers continue after the scheme period ends.
Amendment inserts £39 million uplift to scheme year 15 spending obligation
The Warm Home Discount (Amendment) Regulations 2025, made on 17 September 2025, add £39 million to the Scotland scheme's final year spending obligation and extend the England and Wales rebate deadline.
Opt-out deadline for Winter Fuel Payment falls on 15 September 2025
Pensioners who do not want this winter's Winter Fuel Payment have until midnight on 15 September 2025 to opt out, or they will receive it and repay it through tax if their income exceeds £35,000.
Winter Fuel Payment Regulations 2024 revoked in England and Wales by the 2025 Regulations
The 2024 Winter Fuel Payment rules for England and Wales were revoked on 15 September 2025 and replaced by regulations making payments universal from winter 2025/26, with recovery from higher income pensioners.
Which? warns four in 10 adults unaware caller IDs can be spoofed
Which? has warned that four in 10 adults do not know caller and sender IDs can be spoofed, as it set out how the practice works and what is being done to stop it.
Treasury answers parliamentary question on mis-sold car finance compensation
The Treasury told Parliament on 8 September 2025 that it is working with the Financial Conduct Authority and Prudential Regulation Authority on motor finance commission practices, after the Supreme Court clarified the law.
Work and Pensions Committee publishes report on Jobcentre reforms calling for conditionality overhaul
The Work and Pensions Committee has called for an overhaul of Universal Credit conditionality, proposing a personalised action plan to replace the Claimant Commitment and a longer permitted job-search period.
Universal Credit Act 2025 receives Royal Assent
The Universal Credit Act 2025, which sets the formulae for uprating Universal Credit and income-related Employment and Support Allowance, received Royal Assent on 3 September 2025, with its rate changes taking effect from 6 April 2026.
DWP reassessing Carer's Allowance overpayments from 2015 to 2025
The Department for Work and Pensions is reassessing Carer's Allowance overpayments made between 10 April 2015 and 2 September 2025, with affected claimants possibly due a refund or a reduced or cancelled debt.
30 hours free childcare for children aged 9 months to 3 years from September 2025
From September 2025 working parents in England of children aged nine months to three years can access 30 hours of government-funded childcare a week, completing a rollout that began in April 2024.
Annual growth rate for credit card borrowing rose to 10.8% in September 2025
The Bank of England's September 2025 money and credit figures show annual growth in credit card borrowing rising to 10.8 per cent, as mortgage borrowing reached its highest monthly level since March.
Average household bill arrears 10% higher than a year earlier
Average household bill arrears among new StepChange clients reached £4,447 in September 2025, 10% higher than the £4,059 recorded a year earlier, the debt charity's monthly client data shows.
Child Benefit education and training condition changes come into force
Amendments to Child Benefit rules for young people in education or training took effect on 1 September 2025, changing the hours and types of study that can support a claim beyond age 16.
Effective rate on newly drawn mortgages fell to 4.19%, the lowest since January 2023
The effective interest rate on newly drawn mortgages fell by 7 basis points to 4.19% in September, the lowest since January 2023, the Bank of England has reported.
FCA consulted on draft rules for BNPL firms
The FCA has consulted on draft rules and guidance for buy now pay later firms, ahead of bringing deferred payment credit into its regulation from summer 2026.
Final Universal Credit migration notices issued to ESA claimants
The final migration notices in the Move to Universal Credit campaign were issued in the week beginning 1 September 2025, ending the managed transfer of Employment and Support Allowance claimants onto Universal Credit.
Fuel and electricity arrears rose in September 2025
StepChange reports that 46% of clients responsible for dual fuel bills were in arrears in September 2025, with electricity arrears at 29% and average household bill arrears at £4,447.
Government announces consultation on homebuying reforms
The government has announced a consultation on homebuying reforms covering upfront property information, binding conditional contracts and regulation of estate, letting and managing agents.
Guide updated for Digital Markets, Competition and Consumers Act 2024 unfair trading provisions
Trading Standards consumer guidance for England, Scotland and Wales has been updated to reflect the unfair trading provisions of the Digital Markets, Competition and Consumers Act 2024 coming into force.
Housing Emergency Action Plan published
The Scottish Government published a Housing Emergency Action Plan in September 2025, following its declaration of a national housing emergency in 2024, according to a Scottish Government report.
Industry alert on unauthorised access to pension scheme members' accounts
The Pension Scams Action Group has issued an industry alert warning trustees and administrators about unauthorised access to pension scheme members' accounts through hacking and impersonation.
Mortgage borrowing by individuals rose to £5.5 billion in September 2025, the highest since March 2025
Bank of England data show net mortgage borrowing by individuals rose by £1.2 billion to £5.5 billion in September 2025, the highest since March, while the effective rate on new mortgages fell to 4.19%.
ONS publishes Housing Purchase Affordability, UK: 2024
The Office for National Statistics reports that house price to income affordability ratios fell in all four UK countries in the financial year ending 2024, though homes remain less affordable than in 2006.
Personal loan debt among StepChange clients up three percentage points year on year
Half of StepChange clients who sought debt advice in September 2025 were in debt because of personal loans, up from 47% in September 2024, as average household bill arrears rose 10% to £4,447.
UK residential mortgage product count reaches series high of 7,062
The number of residential mortgage products in the UK rose by 220 over the month to 7,062 in early September 2025, the highest level since the series began in 2008.
Scotland to introduce Pension Age Winter Heating Payment from winter 2025/26
Scotland will replace the UK Winter Fuel Payment with the Pension Age Winter Heating Payment from winter 2025/26, paid by Social Security Scotland to all pensioner households, with higher rates for those on certain benefits.
UC rollout expected to complete by September 2025
The Office for Budget Responsibility expects the Universal Credit rollout, excluding some income-based ESA claimants, to finish by September 2025, eight years later than originally planned.
- August 2025
Consumer Scotland responds to FCA consultation on targeted support for pensions and investment decisions
Consumer Scotland has published its response to the Financial Conduct Authority's consultation on targeted support, setting out evidence on the advice gap in pensions and investments.
Winter Fuel Payment Regulations 2025 laid before Parliament
The Department for Work and Pensions laid regulations on 22 August 2025 making Winter Fuel Payment universal in England and Wales from winter 2025/26, raising the number entitled from 1.5 million to 10.9 million.
Interest rate changes to on-sale and off-sale savings accounts
Santander cut rates on a range of ISAs and easy access savings accounts on 11 August 2025, with further reductions to base rate linked accounts following on 2 September 2025.
Motor finance commission complaints fall to 21,500
New motor finance commission complaints at the Financial Ombudsman Service fell to 21,500 between April and June 2025, down from 36,000 in the final quarter of 2024/25.
Unaffordable lending complaints halve year on year
The Financial Ombudsman Service processed 68,000 new complaints between April and June 2025, with unaffordable lending cases halving to 10,000 from 21,600 a year earlier.
Government publishes Low Pay Commission remit and updated National Living Wage estimates for April 2026
The Government has published the Low Pay Commission's remit for April 2026 minimum wage rates, alongside an updated central estimate that the National Living Wage would need to reach £12.71.
Reports of fake HMCTS debt collection letters spike
Which? has reported a spike in fake debt collection letters claiming to come from HM Courts & Tribunals Service, alongside cold calls from fraudsters posing as debt advisers.
- July 2025
MPs open Child Maintenance Service inquiry
The Work and Pensions Committee has opened an inquiry into the Child Maintenance Service, examining payment compliance, how it treats families, payment levels and proposed changes to Direct Pay and Collect and Pay.
Work and Pensions Committee publishes Pathways to Work report raising concerns about UC health cuts
The Work and Pensions Committee has published its Pathways to Work report, warning that planned cuts to the Universal Credit health component could push disabled people into poverty and calling for a delay.
Guidance added on repaying the Winter Fuel Payment
HMRC has added guidance explaining who must repay the Winter Fuel Payment and how the money will be recovered through tax codes or Self Assessment returns.
MPs call for national strategy to tackle pensioner poverty
The Work and Pensions Committee has called for a UK-wide cross-government strategy on ageing, a Pension Credit take-up strategy for England by the end of 2025 and a Government-set minimum retirement income.
Consultation on Council Tax administration and enforcement in Wales closes
The Welsh Government's consultation on changing Council Tax administration and enforcement in Wales closed on 23 July 2025, with 272 responses and proposals due to take effect from 1 April 2026.
Affordability, explanation and switching policy rules revised
The Financial Conduct Authority has updated mortgage rulebook provisions on remortgaging without additional borrowing, covering the more affordable test, explanation and warning requirements, and internal switching policies.
FCA updated MCOB 4.8A execution-only sales rules
The FCA Handbook shows mortgage advising and selling rules in MCOB 4 carrying a 22 July 2025 date, including a new requirement for firms to identify execution-only customers who may need advice.
New rule on expired term customers took effect
A new Financial Conduct Authority rule took effect on 22 July 2025 requiring mortgage firms to deal fairly with customers whose mortgage term has expired with a balance still outstanding.
Draft Finance Bill 2025-26 published
The Lords Economic Affairs Finance Bill Sub-Committee has published a report on inheritance tax measures covering unused pension funds and agricultural and business property reliefs in the draft Finance Bill 2025-26.
Draft legislation published for MTD for Income Tax and penalty reform
HMRC has published draft legislation to refine and simplify Making Tax Digital for Income Tax and penalty reform, including deferrals for certain groups and a consultation closing on 16 September 2025.
Government abandons PSA-led model for Inheritance Tax on pensions
The government has dropped plans to make pension scheme administrators responsible for reporting and paying Inheritance Tax on unused pension funds, keeping that duty with personal representatives from April 2027.
Government publishes consultation outcome confirming personal representatives liable for IHT on pensions from April 2027
The government has confirmed that personal representatives, not pension scheme administrators, will report and pay inheritance tax on unused pension funds and death benefits from 6 April 2027.
More than 18,000 claims for overpaid inheritance tax made in three years
HMRC figures obtained by NFU Mutual show more than 18,000 claims for overpaid inheritance tax in three years, most of them after property sold for less than its value at death.
FCA publishes consultation paper CP25/23 on final rules for BNPL lenders
The FCA has published consultation paper CP25/23 setting out proposed rules for buy now pay later lenders, with regulation limited to third-party lender agreements and due to take effect on 15 July 2026.
Which? highlights five phone scams currently circulating in the UK
Which? has set out five phone scams circulating in the UK, including calls impersonating a GP practice health adviser, WhatsApp job offers and bank fraud departments, alongside Ofcom survey data on suspicious calls.
ISA and CTF rule changes take effect for recognised funds, LTAFs and flexible ISAs
Rules covering Child Trust Funds, recognised funds, Long Term Asset Funds and flexible ISAs took effect on 15 July 2025, with separate National Insurance number requirements for ISA investors following in 2027.
Most ISA amendment provisions come into force
Most provisions of the Individual Savings Account (Amendment) Regulations 2025 came into force on 15th July 2025, changing ISA subscription, withdrawal and investment rules, with one measure deferred to April 2027.
2025 Order passed setting provisions for regulating BNPL products
The 2025 Order passed on 14 July 2025 sets provisions to bring interest-free buy now pay later products under Financial Conduct Authority regulation from 15 July 2026.
Guide updated following changes to Winter Fuel Payment
The Department for Work and Pensions updated its detailed Pension Credit guide for advisers on 14 July 2025 to reflect changes to Winter Fuel Payment, with further rate updates following in 2026.
Toolkit updated to remove Winter Fuel Payment link to Pension Credit
The Department for Work and Pensions has updated its Pension Credit toolkit to remove the link between Winter Fuel Payment and Pension Credit, saying entitlement to the payment no longer depends on the benefit.
Open letter urges Chancellor to maintain Cash ISA allowance
More than 50 building societies, trade associations and financial firms wrote to the Chancellor on 9 July 2025 urging the Government to keep the current Cash ISA allowance.
PIP eligibility rules unchanged pending Timms review
PIP reforms in the 2025 Welfare Reform Bill have been temporarily removed pending a review, with eligibility rules unchanged until that review is completed.
Scammers impersonate DWP with fake energy support texts
Which? has reported scam text messages impersonating the Department for Work and Pensions that offer fake energy grants of £200 to £300 and link to websites designed to steal personal and financial information.
Bank of England introduces temporary exemption to the 15% loan-to-income limit
The Bank of England introduced a temporary exemption to its 15% cap on mortgages above 4.5 times income in July 2025, letting individual lenders exceed the limit if the market as a whole does not.
BNPL to come under FCA regulation
Buy Now Pay Later will come under Financial Conduct Authority regulation in July, the Centre for Responsible Credit has told the Treasury Committee, though it warns current affordability rules may not protect borrowers.
DWP publishes fairness analysis of machine learning model for the first time
The Department for Work and Pensions has published detailed information on its fairness analysis of a machine learning model used to flag potentially fraudulent benefit claims, showing some groups are over-referred for review.
Energy price cap to rise by £221 (13%) from 1 July
The energy price cap rose by £221, or 13%, on 1 July, taking a typical household bill to £1,663 a year, with a further 4% rise confirmed for October.
Government consults on proposals to reform the FOS
The government has published its response to a consultation on reforming the Financial Ombudsman Service, confirming plans for a 10-year complaint time limit and a narrower fair and reasonable test.
Government relaunches the Pensions Commission
The Government has relaunched the Pensions Commission to examine how future pension savings could be boosted, as MPs separately call for a national strategy on pensioner poverty.
HMRC figures confirm more people pulled into higher tax bands
HMRC estimates show around half a million more people moving into the higher-rate tax band this year, with 420,000 more pensioners paying tax on retirement income.
PRA and FCA amend Loan-to-Income flow limit rule to apply industry-wide
The Prudential Regulation Authority and Financial Conduct Authority have changed the loan-to-income flow limit so the 15% cap on mortgages above 4.5 times income applies across the industry rather than to each lender.
Reimagining Insolvency report launched
The Money Advice Trust has published Reimagining Insolvency, a report proposing a single, flexible insolvency framework for England and Wales with two routes out of problem debt.
Santander UK increases credit card standard interest rates
Santander UK is raising standard interest rates on credit cards from July 2025 for customers who have been told their rate is going up, with a 60-day window to reject the change.
Virgin Money removes Covid vaccination exclusion from travel policy
Virgin Money has removed a clause that excluded cover for unvaccinated travellers hospitalised with Covid abroad, after Which? flagged the exclusion in a comparison of three travel insurers.
- June 2025
95% mortgage guarantee scheme made permanent
The government's 95% mortgage guarantee scheme, which was due to close on 30 June 2025, has been made permanently available, according to Which?.
DWP publishes updated poverty impact analysis for Spring Statement social security changes
The Department for Work and Pensions has published revised estimates showing the Spring Statement social security changes would put an extra 150,000 working age adults in relative poverty by 2030.
Household saving ratio falls to 10.9% in Quarter 1 2025
The Office for National Statistics says the household saving ratio fell to 10.9% in the first quarter of 2025, down from 12.0%, as real household disposable income per head also declined.
Real household disposable income per head falls 1.0% in Quarter 1 2025
Real household disposable income per head fell 1.0% in the first quarter of 2025, the Office for National Statistics said, after growth of 1.8% in the previous quarter.
Scottish Child Payment recipients automatically assessed for Best Start Grant payments
People in Scotland who receive Scottish Child Payment are now automatically assessed for the Best Start Grant Early Learning Payment and School Age Payment, removing the need to submit a separate claim.
Resolution Foundation projects weak income growth to 2029-30 with rising child poverty
The Resolution Foundation projects typical non-pensioner incomes will grow just 1 per cent in real terms between 2024-25 and 2029-30, with child poverty rising from 31 to 34 per cent.
ISA Regulations amended to allow long-term asset funds in innovative finance ISAs and tighten subscription rules
The Treasury has amended the ISA Regulations 2025 to add long-term asset funds to innovative finance ISAs, require national insurance information before subscriptions and tighten replacement subscription rules.
Government launches consultation on council tax billing and collection in England
The government has opened a 12 week consultation on how council tax is billed and collected in England, covering payment schedules, enforcement, band challenges and bill transparency.
Government response to Warm Home Discount expansion consultation published
The Government has confirmed changes to the Warm Home Discount for winter 2025/26, removing the high cost to heat threshold in England and Wales and increasing spending in Scotland.
Government to exempt domestic premises suppliers from BNPL credit broking permissions
The government has decided to exempt businesses that sell goods and services in people's homes from needing credit broking permissions to offer buy now pay later as a payment option.
Chancellor announces £39 billion Social and Affordable Homes Programme
The Chancellor announced £39 billion for a new ten-year Social and Affordable Homes Programme at the Spending Review on 11 June 2025, with the government saying it could deliver around 300,000 affordable homes.
Government announces expanded Winter Fuel Payment eligibility and new tax charge
The government expanded Winter Fuel Payment eligibility from winter 2025 to pensioners with total income up to £35,000, and introduced a tax charge recovering the payment from those above that threshold.
Pension Schemes Bill 2024-25 introduced in Parliament
The Pension Schemes Bill 2024-25 was introduced in Parliament on 5 June 2025, with 12 policies covering local government funds, defined benefit and defined contribution schemes, and the Pensions Ombudsman.
Amending regulations laid for 2025 to 2026 Warm Home Discount expansion
Amending regulations laid in June 2025 remove the high-cost-to-heat threshold for Warm Home Discount Core Group 2 in England and Wales and raise Broader Group funding in Scotland, with around 6 million households expected to receive the £150 rebate.
DWP to reassess Carer's Allowance overpayment cases after review found it acted unfairly
The DWP will reassess Carer's Allowance overpayments made between April 2015 and September 2025, after an independent review found it acted unfairly, with debts reduced, cancelled or refunded.
UK government announces Free School Meals expansion to all children on Universal Credit in England
The UK government has announced that from September 2026 all children in families receiving Universal Credit in England will qualify for Free School Meals, ending the current earnings test.
Government concedes PIP scoring change will not apply to existing claimants
The Government has kept its plan to tighten Personal Independence Payment eligibility scoring but confirmed the change will not apply to existing claimants, avoiding average losses of £4,500 a year for 370,000 people.
Guidance updated for DMCCA unfair trading provisions
Trading standards guidance pages for England, Scotland and Wales have been updated to reflect the coming into force of Part 4, Chapter 1 of the Digital Markets, Competition and Consumers Act 2024.
JRF publishes analysis of proposed health-related benefit cuts
The Joseph Rowntree Foundation says proposed health-related benefit cuts would cut income for 350,000 households by more than 30% while too few jobs exist to offset the losses.
M4Lex net lending reaches highest level since September 2022
Bank of England data show sterling net lending to private sector companies and households reached £18.9 billion in June 2025, the highest monthly figure since September 2022.
Pension Age Winter Heating Payment to become universal from winter 2025/2026
The Scottish Government has laid amendment regulations making the Pension Age Winter Heating Payment universal for all pensioner households from winter 2025/2026, with payments of £100 for those not on relevant benefits.
Remortgaging approvals reach highest level since October 2022
Bank of England data show remortgage approvals rose to 41,800 in June 2025, the highest monthly figure since October 2022, alongside higher mortgage borrowing and consumer credit.
- May 2025
Pensions Investment Review Final Report published with consultation responses
The Pensions Investment Review's Final Report sets out reforms to defined contribution workplace pensions and the Local Government Pension Scheme in England and Wales, with legislation planned in a forthcoming Pension Schemes Bill.
CP25/1 remedies consultation closes
The Payment Systems Regulator's consultation on remedies for the card scheme and processing fees market review closed on 28 May 2025, after findings that Mastercard and Visa raised core fees by at least 25% since 2017.
Pensions Investment Review final report published
The government published the final report of its Pensions Investment Review on 27 May 2025, setting out reforms to be taken forward in the Pension Schemes Bill 2024-25.
Ofgem announces new energy price cap with standard credit premium unchanged
Ofgem has announced a new energy price cap under which households that pay after receiving their bill will still pay £135 a year more than those paying by direct debit.
Government lays BNPL legislation and commits to reviewing approach to domestic premises suppliers
The government laid secondary legislation on 19 May 2025 to regulate interest-free buy now pay later products from July 2026, while committing to review how the rules treat businesses selling in customers' homes.
Government publishes BNPL consultation response and confirms it will bring BNPL into regulation
HM Treasury has published its response to the October 2024 consultation on draft BNPL legislation and confirmed it will lay the draft statutory instrument to bring buy now pay later products into regulation.
Which? finds most home insurance policies cover gardens but with low limits and exclusions
Which? analysed 75 home insurance policies and found 91% cover garden contents, but only one would pay out for storm damage to fences, gates and hedges.
DWP confirms no more Cost of Living Payments planned
The Department for Work and Pensions has confirmed it is not planning any further Cost of Living Payments, closing a series that ran from 2022 to 2024.
Transitional protection deadline passed for tax credit claimants
The deadline to claim transitional protection has passed for tax credit claimants invited to move to Universal Credit, with tax credits having ended on 5 April.
Committee writes to Secretary of State calling for pause of UC health and PIP reforms
The Work and Pensions Committee has called for a pause to planned cuts to the health component of Universal Credit, warning that around 50,000 people could enter poverty by 2030.
New Consumer Energy Debt Advice service announced
A new Consumer Energy Debt Advice service led by Citizens Advice with the Money Advice Trust and StepChange will help clients resolve energy debt problems and access energy efficiency schemes.
entitledto publishes 2025/26 review of English Council Tax Reduction schemes
entitledto's annual review of English Council Tax Reduction schemes finds 62 of 296 councils changed their calculations for 2025/26, with cuts to maximum support outnumbering increases.
Equity Release Council launches Standards 2.0
The Equity Release Council launched Standards 2.0 in May 2025, adding a Consumer Charter and a product standard that waives early repayment charges for customers moving permanently into long-term care.
Government lays secondary legislation to bring BNPL under FCA regulation
The Government laid secondary legislation on 19 May 2025 to bring buy now pay later credit under Financial Conduct Authority regulation, with the regime due to start twelve months and one day after the legislation is made.
Maternity pay flat rate falls to less than half the National Living Wage
Maternity Action's 2025 report finds the flat rate of Statutory Maternity Pay and Maternity Allowance was 44% of the National Living Wage in April 2025, down from 63% of the minimum wage in 2012.
- April 2025
Welsh Government opens consultation on Council Tax administration and enforcement in Wales
The Welsh Government has opened a 12 week consultation on how unpaid Council Tax is collected in Wales, proposing changes to reminder notices, final notices and liability order timing.
Minister signs off final stage Impact Assessment for BNPL regulation
The responsible minister signed the final stage impact assessment for buy now, pay later regulation on 28 April 2025, setting out costs to firms and planned consumer protections.
Resolution Foundation publishes report on Universal Credit capital rules
The Resolution Foundation has published a report arguing that Universal Credit capital rules, frozen since 2006, should be indexed from April 2026 and that Help to Save and Lifetime ISA savings should be disregarded.
Pension Age Disability Payment became available nationally in Scotland
Pension Age Disability Payment replaced Attendance Allowance across Scotland from 22 April 2025, with official figures later showing 186,390 people receiving it as of 31 July 2026.
Carer's Allowance in Scotland being replaced by Carer Support Payment
Carer's Allowance is being replaced in Scotland by Carer Support Payment, a weekly payment of £86.45 for people caring at least 35 hours a week, with extra Scottish support paid alongside it.
Deadline for PSPs to amend consumer terms and conditions to reflect reimbursement rights
The Payment Systems Regulator has confirmed that payment firms had until 9 April 2025 to update consumer contracts to reflect authorised push payment scam reimbursement rights introduced in October 2024.
Which? finds potentially unfair storm and flood definitions in home insurance policies
Which? analysis of 133 home insurance policy documents from 67 firms found 32% contained a potentially unfair definition of flood and 20% a potentially unfair definition of storm.
CMA publishes guidance on its approach to direct consumer protection
The Competition and Markets Authority has published a 19-page document setting out how it will approach direct consumer protection under the new consumer protection regime.
Scottish assistance payment amounts increase from 1 April 2025
Scottish Ministers have uprated a range of devolved social security payments, with most new amounts taking effect from 1 April 2025 and some disability payments changing from 7 April 2025.
New benefit rates take effect from 6 April 2025
Statutory Sick Pay rises to up to £118.75 a week and disability and health related benefits change rates from 6 April 2025, with PIP paying between £29.20 and £187.45 a week.
Chapter 1 on protection from unfair trading valid from 6 April 2025
Chapter 1 of Part 4 of the Digital Markets, Competition and Consumers Act 2024, which prohibits unfair commercial practices, is valid from 6 April 2025 and replaces the 2008 regulations.
Child benefit rates rise by 1.7% for 2025-26
Child benefit rose to £26.05 a week for the eldest or only child and £17.25 for each additional child from 6 April 2025, a 1.7% increase, as HMRC figures show claims at their lowest since 2003.
Help to Save eligibility expanded for Universal Credit claimants
From 6 April 2025, Universal Credit claimants earning £1 or more in their assessment period can open a Help to Save account, replacing the previous 16 hours a week earnings test.
Income Tax rates updated for 2025 to 2026
HMRC has updated its published Income Tax rates, allowances and bands for the 2025 to 2026 tax year, with the change logged on the GOV.UK rates and allowances page on 6 April 2025.
ISA allowance levels for the 2025/2026 tax year
The adult ISA allowance stays at £20,000 and the Junior ISA allowance at £9,000 for 2026/27, but from April 2027 under-65s will face a £12,000 cap on cash ISA deposits.
Schedule 20 banned commercial practices come into force
Thirty-two commercial practices listed in Schedule 20 of the Digital Markets, Competition and Consumers Act 2024 became unfair in all circumstances on 6 April 2025, under commencement regulations S.I. 2025/272.
Scottish Income Tax changes take effect
Scottish Income Tax rates and bands for 2025-26 took effect on 6 April 2025, with the Starter and Basic rate bands widened and the Higher, Advanced and Top rate thresholds frozen.
Tax credit migration amendments take effect from 6th April 2025
Amendments to Northern Ireland's Universal Credit transitional provisions took effect on 6 April 2025, substituting regulation 4A and barring new tax credit claims for the tax year beginning on that date.
Universal credit earned income condition substituted
The rules governing who qualifies for a Help to Save account on Universal Credit were changed from 6 April 2025, substituting the earned income condition in the 2018 regulations.
Universal Credit standard allowance rates rise in April 2025
The Universal Credit standard allowance rose in April 2025, with the single rate for someone aged 25 or over reaching £400.14 a month and the couple rate £628.10.
Zoopla survey finds majority of homeowners undervalue their property
Zoopla research reported on 5 April 2025 found that 64% of homeowners undervalue their property, with more than a third of those putting it £100,000 or more below estate agent estimates.
April 2025 tax, benefit and bill changes take effect
Freezing of personal tax thresholds, a higher employer National Insurance rate, Council Tax and water bill rises, a £111 energy price cap increase and 1.7 per cent benefit uprating all took effect in April 2025.
April price rises to increase emergency savings needs
Hargreaves Lansdown research reported by Which? calculates that households need up to £1,780 more in emergency savings to cover essential costs after April bill rises.
Benefit and pension rates increased from April 2025
Benefit and pension rates rose in April 2025, lifting Universal Credit standard allowances and extra elements, as official figures later showed 8.3 million people on Universal Credit by February 2026.
Benefit and pension rates uprated for 2025/26
Proposed benefit and pension rates for 2025/26 have been published, uprating most working-age and disability benefits and pensions while leaving the benefit cap unchanged.
Carer's Allowance weekly earnings limit to rise from £151 to £196
The weekly earnings limit for Carer's Allowance rises from £151 to £196 in April 2025, set at the amount earned by 16 hours at the National Living Wage, and will track future wage increases.
Carer Support Payment replaces Carer's Allowance in Scotland
Carer's Allowance has been replaced in Scotland by Carer Support Payment, with existing claimants moved across automatically and new claimants told to apply for the Scottish payment instead.
Class 1 Secondary NICs rate to rise to 15% with threshold lowered to £5,000
Employer National Insurance contributions rise from 13.8% to 15% and the point at which they become payable falls from £9,100 to £5,000 a year from 6 April 2025.
CMA gains direct consumer enforcement powers
The CMA has opened an investigation into Microsoft 365 subscription changes, using consumer enforcement powers it has held since April 2025 to decide whether consumer law was breached.
Council tax bills expected to rise across England and Wales from April 2025
Council tax bills rise across England, Wales and Scotland from April 2025, with English bills up about 5% on average and Scottish bills up 9.6%, as most English councils use their referendum-free limit.
Council Tax Reduction Scheme automation improvement takes effect in Wales
From April 2025 councils in Wales can use Universal Credit data to automate applications for Council Tax support, the Welsh Government has confirmed in a consultation on Council Tax administration.
Debt Rescue Scheme testing begins and Universal Credit data used for Council Tax reduction
The Welsh Government is testing a Debt Rescue Scheme in three areas and using Universal Credit data to help reduce Council Tax bills from April 2025.
DWP to check all Carer's Allowance overpayment alerts
From April 2025 the Department for Work and Pensions will check every Carer's Allowance overpayment alert it receives and investigate past overpayments, after years in which not all cases were reviewed.
DWP to recruit over 500 additional fraud and error staff from April 2025
The Department for Work and Pensions will recruit more than 500 additional fraud and error staff from April 2025, part of measures to use government data to correct errors in benefit claims.
Earnings threshold rises to £846 a month
The monthly earnings threshold used to decide whether the benefit cap grace period applies to Universal Credit claimants rose from £793 to £846 on 1 April 2025.
Employer NI rise took effect, pushing employee tax wedges up
The April 2025 employer National Insurance rise took effect, raising the effective tax rate on the median employee to 27 per cent, the highest since 2011-12.
Energy price cap rises to £1,849 for typical dual-fuel consumer
Ofgem's energy price cap rose 6.4% on 1 April 2025, taking the typical dual-fuel bill to £1,849 a year, as water, council tax and rail costs also increased.
Fair Repayment Rate introduced
The Fair Repayment Rate took effect in April 2025, cutting the maximum that can be deducted from a Universal Credit standard allowance for debt repayments from 25% to 15%.
HMRC to end overtaxing of first pension withdrawals from April 2025
HMRC has changed how tax codes are applied to new private pension withdrawals from April 2025, aiming to stop savers being overtaxed on their first payments.
LHA rates to be frozen at 2024 values
Local Housing Allowance rates are to be frozen at 2024 values from April 2025, continuing a pattern that has seen the housing benefit rate held down in seven of the last 14 years.
National Living Wage rises to £12.21 and other minimum wage rates increase
The National Living Wage rose to £12.21 an hour on 1 April 2025, with lower minimum wage rates for younger workers and apprentices also increasing, alongside the daily accommodation offset.
Proposed implementation of updated council tax property list in Wales from 1 April 2025
The Welsh Government has proposed an updated council tax property list for Wales taking effect from 1 April 2025, based on property valuations as at 1 April 2023.
Resolution Foundation publishes Saving Penalties report on Universal Credit capital rules
The Resolution Foundation published Saving Penalties, a report on Universal Credit capital rules, estimating 2 million families had reduced entitlement because of savings thresholds.
Scotland replaces Attendance Allowance with Pension Age Disability Payment
Scotland has replaced Attendance Allowance with Pension Age Disability Payment, a new benefit administered by Social Security Scotland, with rollout completed across the country in April 2025.
Social security benefits rise 1.7%
Social security benefits rose by 1.7% in April 2025, with state pensions and the Pension Credit minimum guarantee rising faster at 4.1%, alongside changes to Carer's Allowance and the National Minimum Wage.
Stamp Duty changes took effect, driving rush of house purchase completions in Q1 2025
Stamp Duty changes on 1 April 2025 pushed buyers to complete purchases early, with UK Finance reporting a rush of completions through to the end of March.
State pension to rise by 4.1% in April 2025
The state pension rises by 4.1% in April 2025 after July earnings growth was revised up, taking the full new state pension to £230.30 a week and £11,975 a year.
Tax Credit system closes, affecting pension-age CTRS eligibility
The Tax Credit system closed in April 2025, and pension-age recipients who moved to Universal Credit became ineligible for pension-age Council Tax Reduction in Wales under existing rules.
Vehicle tax rates introduced for electric, zero and low emission vehicles
Electric, zero and low emission cars, vans and motorcycles became subject to vehicle tax rates introduced on 1 April 2025, with the change applying to both new and existing vehicles.
Winter Fuel Payments charge takes effect from 6 April 2025
A new income tax charge takes effect from 6 April 2025 to recover Winter Fuel Payments from pensioners with total income over £35,000, collected through PAYE or Self Assessment.
Working-age benefits uprated by 1.7%, below CPI of 3.5%
Benefits rose by 1.7% in April 2025, pegged to September 2024 inflation, while CPI had reached 3.5% by that month, leaving a gap between benefit income and rising prices.
- March 2025
OBR-certified costing assumed ending temporary SDLT thresholds would raise revenue
The temporary stamp duty thresholds introduced under Liz Truss expired on 31 March 2025, and an OBR-certified costing assumed the change would raise £850m in 2025-26, rising to £1.635bn by 2027-28.
PRA consults on raising FSCS deposit protection limit to £110,000
The Prudential Regulation Authority has proposed raising the FSCS deposit protection limit from £85,000 to £110,000 from 1 December 2025, with a higher limit for temporary high balances.
SDLT nil-rate bands and FTBR thresholds reverted to pre-September 2022 levels
From 1 April 2025 the stamp duty nil-rate band in England and Northern Ireland fell back to £125,000, with first-time buyer thresholds also reduced, as legislated in 2023.
Stamp Duty Land Tax changes affected house price base effects
The Office for National Statistics says slower UK and English house price inflation reflects a base effect from the Stamp Duty Land Tax changes that took effect in England and Northern Ireland on 1 April 2025.
OBR to publish updated economic and fiscal forecasts
The Office for Budget Responsibility was due to publish updated economic and fiscal forecasts on 26 March 2025, with attention on the Chancellor's fiscal rule and planned cuts to disability benefits.
Scottish Adult Disability Living Allowance introduced and DWP Disability Living Allowance awards transferred
All adults in Scotland receiving Disability Living Allowance from the Department for Work and Pensions had their awards moved to Scottish Adult Disability Living Allowance from 21 March 2025, with no new claims accepted.
HM Treasury announces review of the Financial Ombudsman Service
HM Treasury has announced a review of the Financial Ombudsman Service, including its compensation practices, as the service consults on replacing its long-standing 8% interest rate on awards.
Stage 3 public consultation opens on proposals to reshape the regime
The independent Stage 3 review of Scotland's statutory debt solutions has published its final report, setting out 52 recommendations for Scottish Ministers after a consultation that ran from 12 March to 4 June 2025.
Final report of card scheme and processing fees market review published
The Payment Systems Regulator has published the final report of its market review into card scheme and processing fees, finding Mastercard and Visa raised core fees by at least 25% since 2017.
2025 Spring Statement balances the books largely through social security cuts
The Chancellor closed a £4.1 billion shortfall in the 2025 Spring Statement mainly through social security cuts, with no fresh tax rises, according to Resolution Foundation analysis.
Consultation on statutory debt solutions held
An independent review of Scotland's statutory debt solutions has published 52 recommendations after a March 2025 consultation, with the Scottish Government to respond after the Parliamentary Election.
CSEW computer misuse down 32% to around 692,000 incidents in YE March 2025
Computer misuse incidents in England and Wales fell 32% to around 692,000 in the year to March 2025, while survey-estimated fraud rose 31% to around 4.2 million incidents.
CSEW fraud up 31% to around 4.2 million incidents in YE March 2025
Crime Survey for England and Wales estimates show fraud rose 31% to around 4.2 million incidents in the year to March 2025, the highest since the survey began collecting fraud data.
First participant connects to pensions dashboards ecosystem
The first participant connected to the pensions dashboards ecosystem in March 2025, with 700 providers and schemes connected by December 2025, covering over 60 million workplace and personal pension records.
Government announces changes to PIP claiming rules
The government said in March 2025 that it will change the rules for claiming Personal Independence Payment, meaning fewer people can get it, with the changes not happening before November 2026.
Government confirms DRD restart in Spring Statement
The government confirmed in the Spring Statement that HMRC will restart its Direct Recovery of Debts power, taking unpaid tax directly from bank accounts and cash Isas.
Government publishes impact assessments on disability benefit cuts
The government has published impact assessments alongside the Spring Statement showing its disability benefit plans will cut the incomes of one in five disabled people and push 50,000 more children into absolute poverty.
Government states it is looking at ISA reform options in Spring Statement 2025
The Government said in its Spring Statement 2025 that it was looking at ISA reform options to balance cash and equities, as a Treasury Committee report set out the arguments for and against cutting the Cash ISA allowance.
Green mortgage market grows from four products to over 90
The number of green mortgage products in the UK rose from four in 2019 to more than 90 in 2025, according to Green Finance Institute data, with almost 60 of them residential mortgages.
Household Support Fund ends 31 March 2025
The Household Support Fund ends on 31 March 2025, the same date as the deadline to claim the 2024/25 Winter Fuel Payment and the extension of Northern Ireland's Welfare Supplementary Payments.
OBR publishes forecast alongside Spring Statement 2025
The Office for Budget Responsibility's Spring Statement forecast found no clear evidence that the government's disability benefit plans will move more disabled people into work, as new impact assessments set out the cuts' effects.
PRA consults on proposed increase to deposit compensation limit
The Prudential Regulation Authority consulted in March 2025 on raising the deposit compensation limit, and the FSCS now confirms the limit rose to £120,000 on 1 December 2025.
PRA consults on raising FSCS deposit protection limit from £85,000 to £110,000 and THB limit from £1 million to £1.4 million
The Prudential Regulation Authority has proposed raising FSCS deposit protection from £85,000 to £110,000 and the temporary high balance limit from £1 million to £1.4 million, both from 1 December 2025.
Scottish Adult Disability Living Allowance first introduced in Scotland
Adults in Scotland receiving Disability Living Allowance had their awards moved automatically to a new Scottish Adult DLA from the end of March 2025, with no application and no change in payment amount.
Six English councils permitted to raise council tax above the 4.99% cap
Six English councils have been allowed to raise council tax above the 4.99% referendum threshold for 2025-26, with Bradford permitted the largest increase at 9.99%.
Spring Statement announces payroll option for paying the high-income child benefit charge
Families liable for the high income child benefit charge will be able to pay it through their tax code and company payroll from summer 2025, under changes announced in the Spring Statement.
Spring Statement commits to above-inflation UC standard allowance increase from April 2026
The Spring Statement committed to an above-inflation rise of around 2 per cent in the Universal Credit standard allowance from April 2026, while most benefits rose by 1.7 per cent in April 2025.
Supreme Court hears DWP appeal in Bereavement Support Payment case
The Supreme Court has ruled against a widower denied Bereavement Support Payment because his late wife could not work, overturning earlier judgments in his favour and backing the DWP.
Treasury Committee finds nine top banks had at least 33 days of outages over two years
The Treasury Committee has written to Lloyds Banking Group over an IT glitch that let some customers see other people's account information, and has restated its earlier finding on bank outages.
Warm Home Discount rebates to be applied to bills by end of March 2025
Confirmed Warm Home Discount rebates of £150 for winter 2024/25 should be applied automatically to electricity bills in England, Wales and Scotland by the end of March 2025.
- February 2025
Government consults on removing the high cost to heat threshold for the Warm Home Discount in England and Wales
The government is consulting on removing the high cost to heat threshold for the Warm Home Discount in England and Wales, which would make all households on means-tested benefits eligible for the £150 rebate.
Consultation closed on permitted insurance fees
A government consultation on permitted insurance fees for landlords, freeholders and property managing agents in England and Wales closed at 11:59pm on 24 February 2025, with a response published later.
Consumer Scotland publishes response to Ofgem energy debt relief consultation
Consumer Scotland has published its response to Ofgem's consultation on a debt relief scheme for energy customers, warning that nearly half of those in energy debt doubt they can clear it.
Government lays legislation confirming new National Living Wage and National Minimum Wage rates from 1 April 2025
The government has laid legislation confirming a National Living Wage of £12.21 an hour for those aged 21 and over, and a National Minimum Wage of £10.00 for 18 to 20 year olds, from 1 April 2025.
Shelter Cymru warns of increased homelessness risk from UK Government housing benefit freeze
Shelter Cymru says the UK Government's freeze on housing benefit levels will leave low-income renting households in Wales facing average shortfalls of £604 a year and raise the risk of homelessness.
Alcohol duty rates change from 1 February 2025 until 1 February 2026
New alcohol duty rates per litre of alcohol apply from 1 February 2025 until 1 February 2026, under rates published alongside the Autumn Budget 2024.
Alcohol duty rises in line with RPI, with a cut for draught products
Alcohol duty rose on 1 February 2025 in line with September 2024 inflation of 2.7%, while duty on draught products below 8.5% ABV was cut by 1.7%.
Flood Re reports 20,000 Welsh properties ceded to the scheme
About 20,000 properties in Wales had been ceded to Flood Re in recent months as of February 2025, with 900 claims made in Wales to date, a Welsh consultation report says.
IFS report warns small pension pots risk being lost or eroded by charges
The Institute for Fiscal Studies has warned that millions of small deferred pension pots risk being lost or eroded by charges, and has recommended automatic consolidation of pots under £1,000.
Transfer process to Pension Age Disability Payment begins
Social Security Scotland will start moving existing Attendance Allowance and Disability Living Allowance claims in Scotland to Pension Age Disability Payment from February 2025, with no reapplication needed.
Universal Credit receipt among clients rises to 41%
Two in five clients seeking debt advice from StepChange in February 2025 were receiving Universal Credit, up from 39% in January 2025 and 37% in February 2024.
Which? responds to FCA Targeted Support pensions consultation opposing the proposals
Which? has told the Financial Conduct Authority it cannot support the regulator's proposed Targeted Support regime for pensions, citing three concerns and making three recommendations.
- January 2025
Two-year ownership rule for lease extension abolished
Leaseholders in England and Wales can now extend their lease or buy their freehold as soon as they own the property, after the two-year ownership rule was abolished from 31 January 2025.
Which? finds only 10 of 76 car insurance policies include breakdown cover as standard
Which? analysis of 76 car insurance policies published on 30 January 2025 found only 10 include breakdown cover as standard, with just two offering a complete package.
Action Fraud replaced by Report Fraud
Government guidance now states that Action Fraud has been replaced by Report Fraud, with suspicious calls to be reported to the new service on 0300 123 2040 or through its online tool.
New bar on tax credit claims for tax year 2025-26 inserted
Northern Ireland regulations have inserted a new rule barring claims for tax credits for the tax year beginning 6 April 2025 and any later tax year, under the Universal Credit transitional provisions.
MaPS reports over half of UK adults do not have a will
The Money and Pensions Service has published survey findings showing 56% of UK adults aged 18 and over do not have a will, including 53% of adults aged 50 to 64.
DWP publishes Abstract of benefit rate statistics 2024
The Department for Work and Pensions has published its annual abstract of benefit rate statistics, covering uprating history, the value of benefits over time and price and earnings indices for Great Britain.
Debt Advice and Information Package required for diligence on the dependence warrants
From 20 January 2025 creditors in Scotland must give a Debt Advice and Information Package before applying for a warrant for diligence on the dependence, under rules covering enforcement against debtors.
Lords committee calls for urgent reform of health-related benefits
The House of Lords Economic Affairs Committee has called for urgent reform of health-related benefits, saying the system is financially unsustainable and that work does not pay for claimants.
High Court rules DWP consultation on Work Capability Assessment reforms unlawful
The High Court has ruled the DWP's 2023 consultation on Work Capability Assessment reforms unlawful, finding it misleading, rushed and unfair for failing to disclose cost savings as a primary rationale.
Route map for phase 1 of Streamlining Welsh Benefits published
The Welsh Government has published a route map for the first phase of its work to streamline Welsh benefits, covering Council Tax Reduction, Free School Meals and the Schools Essentials Grant up to April 2026.
Nationwide introduces payment queueing system after surge on first working day of 2025
Nationwide introduced a payment queueing system on 4 January 2025 after a surge in payments, with around 20,000 direct debits failing and £60 compensation paid to affected customers.
Adult Disability Payment replaces PIP in Scotland
Adult Disability Payment, run by Social Security Scotland, has replaced Personal Independence Payment in Scotland, with existing PIP claimants transferred and DLA claimants moved before 21 March 2025.
The Co-operative Bank acquired by Coventry Building Society
Coventry Building Society bought The Co-operative Bank on 1 January 2025, and now plans to transfer the bank's business, including smile, into the society on 1 January 2027.
Government introduces fraud and error legislation
The Public Authorities (Fraud, Error and Recovery) Bill was introduced to Parliament in January 2025, giving the Department for Work and Pensions new powers to verify eligibility and gather information.
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Online casino features that give players the illusion of control, including turbo, slam stops and autoplay, are banned from 17 January 2025 under Gambling Commission measures.
Homeowners Alliance report found material information often missing from listings
A HomeOwners Alliance report in January 2025 found material information was often missing from property listings, as new legislation strengthens what estate agents must disclose.
Insurers paid record £585m for weather damage in 2024
Insurers paid a record £585m in 2024 for weather-related damage to homes and possessions, according to Association of British Insurers data cited by Which?, with a further £322m paid in the first half of 2025.
Legislation for welfare mitigation scheme extension planned
The Minister for Communities has secured agreement to extend Northern Ireland's welfare mitigation schemes, which were due to end on 31 March 2025, by a further three years to 31 March 2028.
Scottish Attendance Allowance transfers to Pension Age Disability Payment begin
People in Scotland receiving Attendance Allowance are being moved automatically to Pension Age Disability Payment, a new Scottish benefit paid at the same two weekly rates.
Which? publishes data showing Sim-swap scam reports to Action Fraud doubled year-on-year
Which? reported that Sim-swap scam reports to Action Fraud doubled year-on-year, and new Cifas figures show unauthorised Sim swaps rose 1,055% between 2023 and 2024.
Work Capability Assessment changes planned from 2025
The government plans to change the activities and descriptors used to pass a Work Capability Assessment from 2025 for new claimants of new style ESA and some Universal Credit elements.