Financial news

• Caring is work. It is time that was recognised | Letter

  02-06-2023 18:11
  
  When I reach state pension age, my carer’s allowance will be taken from me, writes one readerHaving cared for my daughter for 33 years and claimed carer’s allowance for only half of that period because I didn’t know that I was entitled to it, I am angry that next year, on reaching the state pension age, this will be taken away from me. My caring duties, however, will not stop (The Guardian view on carers: those who do the caring deserve care themselves, 24 May).I gave up my car
  
  Read more

• HSBC increases interest rates on some savings accounts

  02-06-2023 17:27
  
  Rises of up to 0.75 percentage points follow increases at First DirectCustomers of HSBC will receive a boost to their savings after the bank announced an increase to interest rates, as Britons enjoy some of the highest rates in more than a decade.The lender is increasing rates on some of its savings accounts, with increases of up to 0.75 percentage points. Continue reading...
  
  Read more

• 'Millions' of Britons could be missing out on vital tax relief - check if it's you

  02-06-2023 14:55 via express.co.uk
  
  From uniform and travel to working from home, Britons could be eligible to claim tax relief on a wide array of expenses.
  
  Read more

• Millions warned of gifting rules when giving to family - how to slash inheritance tax bill

  02-06-2023 13:19 via express.co.uk
  
  Around 20.7 million people are supporting their adult children and grandchildren financially as the cost of living crisis continues, research shows.
  
  Read more

• Advertisement

• Leeds Building Society launches new ‘limited issue’ fixed savings account

  02-06-2023 12:37 via express.co.uk
  
  Leeds Building Society's new limited-issue savings account offers a fixed interest rate of 4.7 percent for 30 months.
  
  Read more

• Senate votes to block student loan forgiveness but Biden vows to veto bill

  02-06-2023 12:00
  
  Repayments could start with the passage of the debt ceiling deal, with supreme court to rule on forgiveness this monthThe Senate approved a House resolution on Thursday to repeal Biden’s student loan forgiveness plan.The vote came during a week when student loans have been at the center of public debate. The forgiveness plan faces sharp scrutiny in Congress and the supreme court. And the choice to resume debt repayments, which have been on pause since March 2020, has been tied up in the hi
  
  Read more

• ‘It left me with nothing’: the debt trap of payday loans

  02-06-2023 12:00
  
  Some payday loans have interest rates as high as 664% – but now Minnesota will cap them at 36%, in line with some other statesMeka Armstrong of Detroit, Michigan, has struggled in a cycle of debt from payday loans for years. She first took out a payday loan in 2010 to cover the costs of medication she needs as she is disabled and lives with lupus.“Worst decision I ever made,” said Armstrong. “The interest rate was 49% and I thought I would get my medications and pay the m
  
  Read more

• HSBC increases rates on savings accounts to encourage savers to ‘revisit saving habits’

  02-06-2023 11:58 via express.co.uk
  
  HSBC is increasing the rates on several savings accounts and ISAs.
  
  Read more

• Advertisement

• British gas offers grants for Britons with energy debt up to £1,500 - are you eligible?

  02-06-2023 11:49 via express.co.uk
  
  British Gas has relaunched its fund which is available to all Britons facing energy debt up to £1,500.
  
  Read more

• Tell us: how is the UK’s rising cost of living affecting your options in life?

  02-06-2023 11:39
  
  We want to hear about the difficult life decisions people in the UK are making As the rising cost of living in the UK continues to squeeze people’s existences, we want to hear about the difficult life choices you are making.Whether it’s a decision about starting a family, pursuing education, moving to a new job, place or home, tell us about how the country’s economic situation is affecting the options in life available to you. Continue reading...
  
  Read more

• HMRC warns Britons to watch out for new scam that ‘harvests’ people’s financial details

  02-06-2023 11:11 via express.co.uk
  
  HMRC has said more than 400 people have reported the scam within one fortnight.
  
  Read more

• Over 500,000 Universal Credit claimants hit by sanctions - DWP shares main reasons why

  02-06-2023 10:53 via express.co.uk
  
  Universal Credit claimants can get a sanction reducing their payment if they fail to carry out tasks as outlined in their Claimant Commitment.
  
  Read more

• Labour vows to overhaul planned Tory changes to student loan system

  02-06-2023 10:14
  
  Shadow education secretary Bridget Phillipson says party would reduce monthly repayments for graduatesLabour has promised to overhaul changes to the student loan system being planned by the Conservative government in a way that could reduce monthly repayments for graduates.Bridget Phillipson, the shadow education secretary, said on Friday the tuition fees system was “broken”, but repeated the insistence by her party leader, Keir Starmer, that Labour would not be able to afford to scr
  
  Read more

• DWP warns thousands of pensioners miss out on yearly boost worth £3,500 - how to apply

  02-06-2023 09:59 via express.co.uk
  
  Pension Credit currently gives around 1.4 million people across the UK extra money to help with living costs if they are over state pension age and on a low income.
  
  Read more

• Bank boosts interest on fixed savings to market-leading 5.25% and earns 'excellent' rating

  02-06-2023 09:23 via express.co.uk
  
  Tandem Bank has "improved its position" in the two-year fixed savings market with its most recent interest rate rise.
  
  Read more

• Premium Bonds winner bags £50,000 prize on £10 Bonds they bought over 50 years ago

  02-06-2023 09:18 via express.co.uk
  
  NS&I has announced the winners for the June draw for Premium Bonds with several people winning big prizes for Bonds they purchased decades ago.
  
  Read more

• Pastel-coloured homes for sale – in pictures

  02-06-2023 08:00
  
  From a pink Grade II-listed ‘gingerbread’ cottage to a sky-blue city terrace Continue reading...
  
  Read more

• Millennials are a growing electoral force, and their thinking on tax is a gamechanger | Gaby Hinsliff

  02-06-2023 07:00
  
  Young people are hostile to income redistribution. It’s not because they’re rightwing – they simply pay too much tax alreadyTaxes are the price paid for living in a civilised society.That founding belief in the moral imperative to stump up for the public good lies deep in progressive bones, just as the belief that people should be able to keep more of their own hard-earned cash does for rightwingers. British liberals are so used to arguing that you can’t have lovely, Scan
  
  Read more

Follow @financialnwsUK on Twitter!