Money news: page 19
- April 2025
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%.