Money news: page 51
- May 2022
Specific Direction 11 issued for second phase of Confirmation of Payee
The Payment Systems Regulator has issued Specific Direction 11, requiring the technical and system requirements for the second phase of Confirmation of Payee to be implemented by 31 May 2022.
SSAC publishes formal reference report on Universal Credit managed migration regulations
The Social Security Advisory Committee has published a formal reference report on the Universal Credit managed migration regulations, making 11 recommendations on oversight and governance to safeguard claimants.
Visits to Government energy bill help page rose 54% between April and May 2022
StepChange reports visits to its page on Government help with energy bills rose 54 per cent between April and May 2022, which it suggests may be an early sign of the energy price cap rise.
Work and Pensions Select Committee holds one-off session on UC Managed Migration
The Work and Pensions Select Committee held a one-off session in May 2022 on Universal Credit managed migration, raising concerns about the three-month migration notice period.
- April 2022
Motor Vehicles (Compulsory Insurance) Act 2022 passed
The Motor Vehicles (Compulsory Insurance) Act 2022 received Royal Assent on 28 April 2022, narrowing the scope of retained EU motor insurance law in Great Britain from 28 June 2022.
DWP stops fuel deductions from benefits
The Department for Work and Pensions stopped taking deductions from benefits for ongoing fuel consumption on 26 April 2022, with an exception where a claimant requests one.
Basic rate band values corrected to £37,700
HM Revenue & Customs corrected the basic rate band for England, Northern Ireland and Wales from £37,000 to £37,700 on 13 April 2022, in its published Income Tax rates and allowances guidance.
SDRP consultation opens on draft regulations
The government has opened a consultation on draft regulations for a statutory debt repayment plan, a new repayment-based debt solution for England and Wales, running until 5 August 2022.
Guidance updated with rates effective from 11 April 2022
Government guidance on the new State Pension and New Style Employment and Support Allowance was updated with benefit rates effective from 11 April 2022, part of the annual uprating of benefit amounts.
Mortgage Charter published covering UK mortgage borrowers including Scotland
The UK government has published the Mortgage Charter, setting out standards lenders will follow to help borrowers worried about higher rates, and it covers mortgage holders in Scotland.
Flat fee charge protections inserted
Regulations in force from 6 April 2022 inserted new provisions into the 2015 charges and governance rules for occupational pension schemes, covering flat fee charges and related governance duties.
Income Tax rates updated for 2022 to 2023
HM Revenue & Customs updated its published Income Tax rates, allowances and duties for the 2022 to 2023 tax year on 6 April 2022, with a correction to basic rate band values following on 13 April 2022.
State Pension uprated by 3.1% under suspended triple lock
The State Pension rose by 3.1% on 6 April 2022 after the earnings element of the triple lock was suspended for a year, giving pensioners an annual boost of up to £289.
Post Office Card Account access to benefits payments ends
From 5 April 2022 people receiving tax credits, child benefit and other statutory payments could no longer collect them through the Post Office, after the DWP contract with Post Office Limited ended.
1.25% NICs rate increase comes into effect in April 2022
The 1.25% National Insurance increase takes effect in April 2022, and analysis of the Spring Statement shows it cancels out the higher threshold for workers earning above £35,000.
£150 Council Tax rebate payments begin for Bands A to D in England
Payments of a £150 Council Tax rebate began on 1 April 2022 for households in Bands A to D in England, part of a package of support announced in February.
All members moved to the 2015 CARE scheme and final salary closed to accrual
The final salary sections of the NHS Pension Scheme in Scotland closed to further accrual on 1 April 2022, with all members moved into the 2015 career average scheme for future service.
Amendments to Best Start Grant, Best Start Foods and Scottish Child Payment regulations laid
Scottish ministers have laid amending regulations changing child responsibility, kinship carer definitions, automatic awards and payment timing across Best Start Grant, Best Start Foods and Scottish Child Payment.
Around 210,000 disability benefit claimants set to lose Warm Home Discount
Around 210,000 people claiming disability benefits are set to lose the Warm Home Discount under changes to the scheme, Fair By Design says, as the rebate rises from £140 to £150.
Basic rate of statutory maternity and parental pay set at £156.66 per week from April 2022
The basic rate of statutory maternity and parental pay stands at £156.66 a week from April 2022, equal to 47% of the National Living Wage for a 35-hour week, according to a maternity charity survey.
Benefits uprated by 3.1% while inflation stood at 9%
Most working-age benefits and the State Pension rose by 3.1 per cent in April 2022, based on September 2021 inflation, while the cost of living was already rising far faster.
Benefits to be uprated by September 2021 inflation in April 2022
Benefits including Universal Credit were uprated in April 2022 by September 2021's inflation rate, a figure likely to sit below the inflation households faced over the winter.
Cold weather payments responsibility transferred to the Scottish Government
Responsibility for cold weather payments in Scotland moved to the Scottish Government at the start of 2022-23, the Office for Budget Responsibility has confirmed in its latest welfare report.
Cost of living increase becomes second most cited reason for debt among StepChange clients
StepChange's April 2022 monthly client data shows 15% of new clients cited a cost of living increase among their main reasons for debt, up from 7% in September 2021.
Council Tax Reduction (Scotland) Regulations 2021 come into force
The Council Tax Reduction (Scotland) Regulations 2021, made on 23 June 2021 and laid before the Scottish Parliament on 25 June 2021, came into force on 1 April 2022 for the financial year beginning on that date.
CPI inflation reaches 40-year high
UK consumer price inflation reached 9% in April 2022, a 40-year high driven by energy bills and food prices, according to a Scottish Parliament committee report published in July 2022.
New debt packaging rules could come into force
The Financial Conduct Authority has proposed banning referral fees for debt packagers, with new rules expected to come into force in April 2022 subject to a consultation that closed in December 2021.
DWP launches ongoing Pension Credit awareness campaign
The Department for Work and Pensions ran an ongoing Pension Credit awareness campaign from April 2022, with increased advertising, as later figures showed take-up falling and unclaimed amounts rising.
DWP publishes Completing the Move to UC policy document
DWP statistics published in February 2026 show 2.35 million people in 1.82 million households were sent migration notices moving them from legacy benefits to Universal Credit between July 2022 and December 2025.
DWP requires consent for new or increased Fuel Direct deductions for ongoing energy costs
From 1 April 2022 the Department for Work and Pensions will only agree to new or increased deductions for ongoing energy costs from benefits where the customer gives consent.