Money news: page 9
- February 2026
Evaluation report on managed migration from tax credits to Universal Credit published
The Department for Work and Pensions has published an evaluation of households receiving tax credits only who were invited to move to Universal Credit, covering the period up to April 2025.
DWP begins Automated claimant reviews of Universal Credit claims
The Department for Work and Pensions has started selecting Universal Credit claims for Automated claimant reviews, which can occur at any time and may lead to payments being stopped if claimants do not respond.
Financial Ombudsman Service warns people to be on high alert for online investment and employment scams
The Financial Ombudsman Service received 31,300 fraud and scam complaints in 2025 and has urged the public to stay alert to online investment and employment scams.
DWP publishes Move to UC statistics to end December 2025
The Department for Work and Pensions has published figures showing 2,352,886 individuals were sent migration notices between July 2022 and December 2025, with 356,521 not claiming Universal Credit and having legacy claims closed.
Fair4All Finance launches credit union transformation programme for England
Fair4All Finance has opened a public consultation on a credit union transformation programme for England, backed by £30m of dormant assets funding and delivered with HM Treasury and ABCUL.
Living Standards Outlook 2026 published
The Resolution Foundation forecasts typical non-pensioner incomes will grow 1.2 per cent in 2026-27, with lower-income families seeing gains of 4.7 per cent as benefit uprating and the two-child limit change take effect.
Nationwide cuts variable-rate savings rates by up to 0.25 percentage points
Nationwide cut rates across its variable-rate savings products, including instant-access and Isa accounts, by up to 0.25 percentage points from 10 February 2026, as average savings rates continued to fall.
Minister commits to accept Benefit Fraud and Error Task and Finish Group recommendations
Northern Ireland's Communities Minister has accepted the Benefit Fraud and Error Task and Finish Group's recommendations, pledging around 200 extra staff and a new advertising campaign.
National Trading Standards warns of AI voice-cloning survey scam leading to unauthorised direct debits
National Trading Standards has identified a scam in which cold callers posing as lifestyle survey researchers use AI to clone victims' voices and set up direct debits without their knowledge.
Funeral Support Payment eligibility widened by around 40%
A new nearest relative eligibility test for Scotland's Funeral Support Payment is expected to widen eligibility by around 40 per cent, reaching an estimated 5,000 people each year.
Alcohol duty rates change from 1 February 2026 until 1 February 2027
New alcohol duty rates per litre of pure alcohol apply in the UK from 1 February 2026 until 1 February 2027, under rates published alongside the 2025 Budget.
Lost in the system report launched
The Money Advice Trust has published Lost in the system, a report on council tax in England that finds support is not widespread and sets out recommendations to Government and local authorities.
- January 2026
Net mortgage approvals for house purchases fell to 60,000 in January 2026
Bank of England data show net mortgage approvals for house purchases fell to 60,000 in January 2026, below the recent six-month average, while mortgage borrowing and consumer credit also shifted.
Net mortgage borrowing fell to £4.1 billion in January 2026
Bank of England figures show net mortgage borrowing by individuals fell to £4.1 billion in January 2026, down from £4.5 billion in December and below the previous six-month average.
Government confirms Warm Home Discount Scheme will continue for five years to 2030/31
The Government has confirmed the Warm Home Discount will run for a further five years from 2026/27 to 2030/31, merging the two Core Groups in England and Wales and expanding data-matched eligibility in Scotland.
Government responds to Warm Home Discount consultation without increasing the £150 rebate
The Government has published its response to the Warm Home Discount consultation, extending the scheme to 2031 but leaving the £150 rebate unchanged and eligibility rules as they are.
Universal Credit LHA rates 2026 to 2027 published
The Department for Work and Pensions has published Universal Credit Local Housing Allowance rates for England, Scotland and Wales covering April 2026 to March 2027, with a date error corrected in April.
Government announces ground rent cap and ban on new leasehold flats
The government has published a draft bill to cap ground rent at £250 a year, ban new leasehold flats and make commonhold easier, with the cap not expected before late 2028.
Page updated to reflect the change from Action Fraud to Report Fraud
The Valuation Office Agency has updated its business rates agent guidance so that fraud reports are directed to Report Fraud rather than Action Fraud, in a change dated 26 January 2026.
CMA opens consultation on draft revised unfair contract terms guidance
The Competition and Markets Authority has opened a consultation on draft revised guidance and a technical note covering the unfair contract terms provisions in the Consumer Rights Act 2015.
Consumer Scotland responds to Ofgem consultation on energy debt at change of tenancy
Consumer Scotland has published its response to an Ofgem consultation on energy debt at change of tenancy, tentatively supporting reform while warning about self-disconnection and pre-move liability risks.
Treasury Committee report warns current approach to AI in financial services risks serious harm
The Treasury Select Committee says the Bank of England, FCA and Treasury are exposing consumers and the financial system to potentially serious harm through their wait-and-see approach to AI.
Legislative Consent Memorandum laid for Universal Credit two-child limit removal Bill
The Minister for Communities has laid a legislative consent memorandum asking the Northern Ireland Assembly to agree that the Universal Credit two-child limit removal Bill extends to Northern Ireland.
Report finds credit score dashboards can encourage overborrowing
A report published on 19 January 2026 finds that credit score dashboards can encourage overborrowing and deter low-to-middle income households from seeking help with debt.
MPs to question DWP officials amid complaints controversy
The Work and Pensions Committee will question Department for Work and Pensions officials on 16 January 2026 about paused remedial actions, carers allowance overpayment debts and the department's annual reports and accounts.
Household Support Fund replaced by Crisis and Resilience Fund
Official guidance on Cost of Living Payments now points households to the Crisis and Resilience Fund, after the Household Support Fund was replaced in an update published on 1 April 2026.
2026 to 2027 Scottish Income Tax rates and bands added
The Scottish Budget on 13 January 2026 set out proposed Scottish Income Tax rates and bands for 2026 to 2027, keeping the six rates but widening the starter, basic and intermediate bands.
Joint proposals published for pension value for money framework
The FCA, DWP and TPR have published joint proposals requiring pension schemes to publish performance, cost and service quality data under a colour rating, with comment open until 8 March.
Consumer Scotland opposes moving Warm Home Discount costs to the unit rate
Consumer Scotland has told the Department for Energy Security and Net Zero that the cost of the Warm Home Discount should stay on the standing charge rather than move to the unit rate.
2026 to 2027 Scottish rates and bands added to guidance
The Scottish Government factsheet on Scottish Income Tax rates and bands was updated on 13 January 2026 to add the 2026 to 2027 rates and bands, alongside the existing 2025 to 2026 figures.