Money news: page 7
- April 2026
Guidance updated and Discretionary Housing Payments information removed
The Department for Work and Pensions has updated its Housing Benefit rent factsheet, removing Discretionary Housing Payments information and pointing claimants to their local council instead.
Higher energy prices from Middle East conflict set to leave typical working-age household £480 worse off in 2026-27
The Resolution Foundation estimates higher energy prices linked to the Middle East conflict will leave the typical working-age household £480 worse off in 2026-27 than it would have been otherwise.
Late submission penalties to apply to MTD ITSA taxpayers with income over £50,000
From 6 April 2026, HM Revenue & Customs will apply its points-based late submission penalties to businesses, self-employed people and landlords with income over £50,000 who are mandated into Making Tax Digital for Income Tax.
LHA rates frozen for 2026 to 2027
Local Housing Allowance rates used to work out housing support for private renters will stay at their 2025 to 2026 levels for the year from 1 April 2026 to 31 March 2027.
Making Tax Digital for Income Tax becomes mandatory for sole traders and landlords with qualifying income over £50,000
Making Tax Digital for Income Tax became mandatory in April 2026 for sole traders and landlords with qualifying income over £50,000, with the first quarterly update due by 7 August 2026.
National Minimum Wage and National Living Wage rates increase
The National Living Wage rose to £12.71 an hour on 1 April 2026, with the National Minimum Wage rates for younger workers and apprentices also increasing.
Net mortgage borrowing fell in April while approvals for house purchases rose
Bank of England data show net mortgage borrowing fell to £4.4 billion in April from £6.8 billion in March, while approvals for house purchases rose to 65,900.
Non dependant deduction rates from April 2026
Shelter has published the weekly housing benefit deductions councils can take from claimants who share a home with other adults, ranging from £20.40 to £131.45 from April 2026.
New payment account termination rules come into force
Rules taking effect on 28 April 2026 extend the notice payment firms must give before closing an account to 90 days for new contracts and require detailed reasons for the decision.
Pension Age Disability Payment fully rolled out in Scotland as replacement for Attendance Allowance
Pension Age Disability Payment has replaced Attendance Allowance in Scotland, with awards transferred automatically from the Department for Work and Pensions to Social Security Scotland.
New PIP award durations take effect for people aged 25 or over
Most new PIP awards to people aged 25 or over are now for four years with a review after three, and the same durations apply to existing claims from 16 June 2026.
PIP and DLA rates up-rated from April 2026
The Social Security Benefits Up-rating Order 2026 raises Personal Independence Payment and Disability Living Allowance weekly rates from April, with the daily living enhanced rate reaching £114.60.
Scottish income limit for free school meals takes effect from 1st April 2026
The household income limit for Universal Credit claimants applying for free school meals in Scotland rises to £11,940 a year, or £995 a month, from 1st April 2026.
SDP transitional element rates set from April 2026
The SDP transitional element rates paid to some Universal Credit claimants who moved from legacy benefits will be £148.82, £353.44 or £502.27 a month from April 2026.
ShPP rate and earnings threshold set for April 2026 to April 2027
Statutory Shared Parental Pay will be £194.32 a week or 90% of average earnings, whichever is lower, with a £129 weekly earnings test, for April 2026 to April 2027.
Social security benefits uprated by 3.8%
Social security benefits across the UK rise by 3.8% from April 2026, alongside a 4.8% state pension increase, Universal Credit changes and the end of legacy benefits.
State Pension age begins rising from 66 to 67
The State Pension age is rising from 66 to 67 on a phased basis between April 2026 and March 2028, with the exact date set by date of birth.
Surplus earnings figures for 2026/27 set out
Turn2us has published the Universal Credit element amounts, work allowances and thresholds used to calculate surplus earnings for 2026/27, setting out how earlier months of earnings can reduce or stop payments.
Third party deduction amounts change from April 2026
Third party deductions from universal credit, taken to repay energy, water and council tax debts, are set at new monthly amounts from April 2026, ranging from £17 to £33 depending on age and household type.
UC Health support for new claimants to halve from April 2026
New Universal Credit health claimants will receive £54 a week from April 2026, half the £105 a week paid to people with the same condition in March 2026, the Work and Pensions Committee has said.
Uprated council tax reduction figures apply from schemes beginning on or after 1 April 2026
Welsh ministers have laid regulations uprating council tax reduction figures and adding new disregards, applying to council tax reduction schemes made for financial years beginning on or after 1 April 2026.
VED rate changes to take effect from 1 April 2026
Vehicle Excise Duty rates for cars first registered on or after 1 April 2017 rise from 1 April 2026, with the flat annual rate increasing from £195 to £200.
VOA functions integrated into HMRC
The Valuation Office Agency's functions move into HM Revenue and Customs on 1 April 2026, and the agency ceases to exist, with council tax band challenges and business rates checks continuing.
Warm Home Discount scheme proposed to continue from 2026/27 to 2030/31
The government has proposed continuing the Warm Home Discount for five more years from winter 2026 to 2027, with options for Scotland including automatic data matching.
- March 2026
ECO funding to end from 31 March 2026
Government funding for the Energy Company Obligation ends on 31 March 2026 under Autumn Budget plans, with savings from scrapping ECO and shifting Renewables Obligation costs due to reach bills from April.
Fake British Gas cold calls reported, with callers knowing recipients' personal details
Which? has reported cold calls from scammers impersonating British Gas, with some recipients saying the callers already knew their email address and postcode.
Legacy benefits end as managed migration completes
Legacy benefits ended on 31 March 2026 after the managed migration process to Universal Credit was completed, with claims closed and claimants invited to apply for the newer benefit.
Treasury correspondence on proposed ISA changes published
The Economic Secretary to the Treasury wrote to the Chair of the Treasury Committee on 30 March 2026 about proposed changes to ISAs, with the correspondence published on 15 April 2026.
Chancellor meets lenders representing 75% of mortgage market and lenders reaffirm Mortgage Charter commitments
The Chancellor met lenders covering 75% of the mortgage market on 26 March 2026 to discuss rates and borrower support, after which lenders reaffirmed their Mortgage Charter commitments.
Current Warm Home Discount regulations end on 31 March 2026
The regulations underpinning the Warm Home Discount end on 31 March 2026, and replacement rules for England and Wales have been made to run the scheme to 2031.