Money news: page 11
- December 2025
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.