Money news: page 4
- June 2026
Supporting evidence threshold set to £155.00 per month for July to September 2026
The Accountant in Bankruptcy has set the supporting evidence threshold used in Scottish debt solutions at £155.00 per month for the period from 1 July to 30 September 2026.
Which? reports card-not-present fraud hit record case volumes and losses in 2025
Which? reports that card-not-present fraud reached record case volumes in 2025, with 3.2m cases and £423.5m in losses, as overseas processing of online card fraud rose to 77%.
New PIP award duration rules extended to existing caseload
The Department for Work and Pensions has extended its changed Personal Independence Payment award durations to the existing caseload from 16 June 2026, alongside statistics showing four million claimants in England and Wales.
Deadline for landlords to issue updated contract terms
Landlords in Wales had to give existing contract holders updated contract terms by 14 June 2026, under changes in force from 1 June 2026 aimed at stopping discrimination against tenants.
FCA data shows 29% rise in pensions fully withdrawn since 2018-19
Financial Conduct Authority data shows just over 462,000 pensions were withdrawn in full in 2024-25, a 29% rise on the 357,122 fully withdrawn in 2018-19.
High Court appoints special administrators over EES
The High Court has appointed special administrators over Euro Exchange Securities UK Ltd after the FCA required the firm to stop carrying on regulated electronic money and payment services.
Claimants can now object to landlords' requests to recover rent and service charge arrears from UC payments
Universal Credit claimants can now object to a landlord's request to recover rent and service charge arrears from their benefit payment, under guidance updated by the Department for Work and Pensions on 10 June 2026.
DWP opens consultation on amending pension transfer scam protections
The Department for Work and Pensions has opened a consultation on amending the 2021 pension transfer scam rules, proposing a new red flag for transfers into Small Self-Administered Schemes.
Government launches cohabitation law reform consultation
The government has opened a consultation on cohabitation law reform in England and Wales, seeking views on property, pension and inheritance rights for around 3.5 million unmarried couples.
Temporary reduced VAT rate for children's meals, tickets and family attractions added
HMRC's VAT guidance now sets out a temporary reduced rate for children's meals, tickets and family attractions running from 25 June to 1 September 2026, replacing an earlier temporary rate.
PPI publishes report on megafund pension reforms with international insights
The Pensions Policy Institute has published a report on the UK megafund pension reforms, drawing on international evidence and interviews with UK and Australian pension stakeholders.
Right to try rules come into effect
Rules meaning that trying work or volunteering will not trigger an unplanned review of PIP, universal credit or new style ESA came into effect on 2 June 2026.
Applications open for free school meals for the start of the autumn term
Applications for free school meals open on 1st June 2026 for the autumn term, ahead of an expansion in England from September 2026 that is expected to add around 500,000 eligible children.
BNPL to come within FCA regulation from summer 2026
Buy now, pay later will fall under Financial Conduct Authority regulation from summer 2026 under legislation already passed by the Government, with the FCA having consulted on draft rules for firms.
Breathing Space registrations fall 41% year on year
Breathing Space registrations fell 41% year on year to 4,495 in June 2026, the Insolvency Service said, while individual insolvencies in England and Wales rose 16% over the same period.
FCA updates BCOBS 5 on set-off, Consumer Duty and financial difficulty
The FCA has updated BCOBS 5, its post-sale banking rules, with guidance on payment instruction ordering, set-off and subsistence balances, and customers in financial difficulty, effective 26/06/2026.
FSCS raises deposit compensation limit to £120,000
The Financial Services Compensation Scheme raised its deposit protection limit from £85,000 to £120,000 per eligible person per firm on 1 December 2025, after the PRA confirmed final rules in November 2025.
Government publishes response to home buying and selling reform consultation
The government has published its response to the October 2025 home buying and selling reform consultation, committing to reforms and setting out a timetable running to the end of this Parliament.
Market engagement to begin on recommissioning of national debt advice services
The Money and Pensions Service will start market engagement on recommissioning its national telephone and digital debt advice contracts from early summer 2026, alongside a new community-based grant scheme.
MCOB 11 updated with Consumer Duty references and revised exceptions to affordability assessment
The FCA Handbook's responsible lending chapter was updated on 26 June 2026, adding Consumer Duty wording to its purpose and revising the exceptions to the mortgage affordability assessment rule.
Net mortgage borrowing rose to £7.7 billion in June 2026
Net mortgage borrowing by individuals rose to £7.7 billion in June 2026 from £3.3 billion in May, the Bank of England has reported, while mortgage approvals for house purchases increased but stayed below their recent average.
- May 2026
Deadline for landlords to issue government factsheet and statements of terms for pre-existing tenancies
Landlords of private tenancies in England that began before 1 May 2026 must issue the government factsheet, or a written statement of terms for unwritten agreements, by 31 May 2026.
Household Costs Indices bulletin for January to March 2026 published
The Office for National Statistics said overall UK household costs rose 3.6 per cent in the year to March 2026, unchanged from December 2025, with renters facing the highest rate of any tenure type.
OPFS responds to new energy price cap announcement
One Parent Families Scotland has responded to the new energy price cap announced by Ofgem on 27 May 2026, setting out the money and debt support it offers to single parent families.
Consumer Scotland responds to FCA and Financial Ombudsman consultation on modernising the redress framework
Consumer Scotland has responded to the FCA and Financial Ombudsman Service consultation on modernising the redress framework, backing a light touch registration stage but warning that many specific dismissal rules could make the service inflexible.
Government publishes FOS review consultation outcome with package of proposed reforms
The government has published the outcome of its review of the Financial Ombudsman Service, proposing a 10-year complaint time limit, an adapted Fair and Reasonable test and new FCA referral duties.
Financial Services and Markets Bill introduced in the House of Lords on 19 May 2026
The Financial Ombudsman Service has confirmed changes to how it handles complaints, with formal rule changes taking effect from 1 October 2026 and pilots on fraud and scams casework starting the same month.
State Pension age increase from 66 to 67 begins
The State Pension age began rising from 66 to 67 on 6 May 2026, with the increase phased in over two years and affecting people born between April 1960 and April 1977.
The Pensions Ombudsman publishes Corporate Plan for 2026/27 backed by new three-year DWP funding settlement
The Pensions Ombudsman has published its Corporate Plan for 2026/27, backed by a three-year funding settlement that allows a 20% expansion of its frontline casework teams.
Which? warns of bank impersonation scam using one-time passcodes
Which? has reported how a Barclays customer was defrauded after a genuine fraud call from the bank primed them to trust a later scam call asking for one-time passcodes.