Millions of savers to face ‘hidden tax burden’ August 5, 2025 Millions of Brits will face a ‘hidden tax burden’ this year, fresh HMRC data has revealed, as thousands more are set to pay tax on the interest from their savings. Over 3.35m people are projected to be taxed on savings interest in 2025 – where the interest earned on savings exceeds the tax-free allowance and [...]
Rachel Reeves’ cash ISA plans would ‘choke mortgages’ July 3, 2025 Rachel Reeves’ plans to slash the tax-free cash ISA allowance “would be effectively choking mortgage availability” for those who need them the most, a building society’s CEO has said. Darlington Building Society was reacting to the news that the Chancellor is set to announce a lowering of the current £20,000 cap that savers are allowed [...]
Zopa: Fintech bank takes on HSBC and Lloyds with current account June 24, 2025 Digital bank Zopa is parking its tanks on the lawns of the UK’s top lenders – with a new high interest current account. The London-based fintech has launched “Biscuit,” which it said will allow customers to make £256 in cashback and interest per year. The current account offers two per cent AER interest on balances, [...]
Lump sum vs cost averaging: what is the best ISA strategy? June 19, 2025 Studies show lump sum investing leads to slightly better returns, but it might not be right for every investor. Saving any amount of money per month, or as often as possible, is a great first step towards creating a financial safety net. But if you’re able to, it’s worth looking into your savings strategy to [...]
Is June the time to buy Premium Bonds? June 3, 2025 Premium Bond prizes range from £25 to £1m, but the odds of winning can feel very small compared to the rate savings accounts offer right now. Over 24m people in the UK own Premium Bonds, a savings vehicle offered by Treasury-backed National Savings and Investments (NS&I). Winners for June are due to be announced over [...]
Moneybox: Savings and investment platform gears up for possible IPO May 12, 2025 Savings and investment platform Moneybox is gearing up for a potential initial public offering (IPO) as it bolsters its boardroom with a new hire. The fintech has made a major signal it is working towards becoming a public company in the future with the appointment of Melissa Birge as an independent non-executive director. Birge has [...]
Regular or fixed? How to know which savings account is right for you May 8, 2025 Recently, savers have enjoyed some of the best interest rates in years, but as the Bank of England continues cutting interest rates, this may be coming to an end. This makes it crucial to move your cash to a place where it will be working as hard as possible for you. The good news is [...]
Interest rates are dropping – is it time to fix your savings? May 7, 2025 The Bank of England has begun cutting interest rates, and with concerns over a global trade war seeping into growth forecasts, it is likely that the rate cuts will continue. Bank of England Governor Andrew Bailey has confirmed that interest rates are on a declining path, despite inflation stubbornly remaining above the central bank’s target of [...]
Cash ISA: What are the alternatives? April 3, 2025 Rumours are growing over expected reforms to Cash ISAs, as the Treasury searches for ways to boost its coffers. Under the current ISA regime, savers can place up to £20,000 per tax year in a Cash ISA without paying any tax on the interest they earn. This threshold could be reduced to £4,000 under Labour’s [...]
Banks accused of ‘rigging the system’ against consumers February 27, 2025 Britain’s top banks are “rigging the system” against consumers and the government must do more, a fintech chief executive has claimed. Financial wellbeing platform Wagestream found 90 per cent of Brits believe they should be saving money but nearly half fear they won’t save a single penny in 2025. The fintech’s ‘State of Financial Wellbeing [...]