Money news: page 14
- November 2025
Budget 2025 announces changes to income tax, duties and allowances
Budget 2025 raises dividend tax from April 2026 and savings and property income tax from April 2027, freezes personal allowances to 2031 and adds new duties on vaping and gambling.
Chancellor announces freeze of student loan repayment threshold at 2025 Budget
The Chancellor announced at the 2025 Budget that the student loan repayment threshold of £28,470 will be frozen for three years from April 2027, with a Treasury Committee inquiry into graduate taxation following in March 2026.
Cold Weather Payment 2025 scheme opens
The Cold Weather Payment scheme for 2025 opens in England, Wales and Northern Ireland in November, one of a series of benefit changes listed in a timetable published by Turn2us.
Effective rate on newly drawn mortgages rose for the first time since February 2025
The Bank of England says the effective interest rate on newly drawn mortgages rose to 4.20% in November, the first increase since February 2025, as mortgage borrowing and credit card growth also picked up.
Experian revamps its credit score to a maximum of 1,250
Experian has expanded its credit score range from 0-999 to a maximum of 1,250, with new bands and features rolling out to customers from November and completing by the end of the year.
UK government announces removal of the two-child limit
The UK government has announced the two-child limit will be removed from April 2026, so families can receive the Universal Credit child element for all children regardless of family size.
Help to Save made permanent and set for expansion
The Government has confirmed Help to Save will become permanently available to new savers and will be widened from April 2028 to all Universal Credit households receiving the child or carer's element.
LHA failed to cover rent for over half of private renters on Universal Credit in England
Local Housing Allowance did not cover rent for 54% of private renters claiming Universal Credit in England by November 2025, the Joseph Rowntree Foundation has reported.
Net mortgage borrowing by individuals rose to £4.5 billion in November 2025
Net mortgage borrowing by individuals rose to £4.5 billion in November 2025, up from £4.2 billion in October, while the effective interest rate on newly drawn mortgages increased for the first time since February 2025.
Ofgem publishes statutory consultation on a Debt Relief Scheme
Ofgem has published a statutory consultation on a Debt Relief Scheme, setting out proposals for targeted relief for households in the most acute energy debt.
Pension Age Winter Heating Payment expected to launch in Scotland
Scotland's Pension Age Winter Heating Payment replaced the Winter Fuel Payment, with the first payments made in the winter of 2025 and rates for 2026/27 set by age and household circumstance.
Personal Allowance freeze extended to 2030 to 2031 at Autumn Budget 2025
The Personal Allowance stays at £12,570 through to 2030 to 2031 after the freeze was extended at Autumn Budget 2025, with the number of Income Tax payers projected to reach 40.8 million.
Personal tax threshold freeze extended by three years
The freeze on personal tax thresholds was extended by three years to 2030-31 in the 2025 Autumn Budget, keeping the personal allowance at £12,570 and the higher rate starting point at £50,270.
PRA confirms final rules on deposit compensation limit increase
The Prudential Regulation Authority confirmed final rules in November 2025 raising the FSCS deposit compensation limit to £120,000, effective for firm failures from 1 December 2025.
Salary sacrifice pension contributions NICs exemption capped from April 2029
The Government Actuary has set out the effect of the November 2025 Budget measure that caps the National Insurance exemption for salary sacrifice pension contributions at £2,000 a year from April 2029.
Scotland first part of UK to see over half of bank and building society branches close
Consumer Scotland says Scotland became the first part of the UK where more than half of bank and building society branches have closed, with 722 of 1,041 shut and 18 more due to close as of November 2025.
StepChange updated its Breathing Space suitability criteria, reducing registrations
StepChange changed its Breathing Space suitability criteria in November 2025, and Insolvency Service figures show registrations for the debt respite scheme running well below year-earlier levels through 2026.
Warm Home Discount scheme opens for 2025-26 winter
The Warm Home Discount scheme for winter 2025-26 is open, giving eligible households in England, Wales and Scotland a one-off £150 discount on their energy bill.
Welsh Government issues resultant proposals on flood insurance in Wales
The Wales Flood and Coastal Erosion Committee has published seven resultant proposals on flood insurance in Wales, covering uninsured properties, Flood Re eligibility and support for those outside the scheme.
Winter Fuel Payments to be made from November 2025
Winter Fuel Payments become universal in England and Wales from winter 2025/26 under regulations laid in August 2025, with payments from November 2025 and recovery from pensioners with taxable income over £35,000.
- October 2025
BSA research finds 29% of aspiring homeowners believe they will never own a home
Building Societies Association research published on 30 October 2025 found 29% of people who want to buy a home believe they never will, with deposits, repayments and stamp duty cited as barriers.
Attendance Allowance replaced by Pension Age Disability Payment in Scotland
Attendance Allowance has been replaced in Scotland by Pension Age Disability Payment, a devolved benefit for people over State Pension age with care needs, paid at two weekly rates.
Low Pay Commission submits 2026 minimum wage recommendations
The Low Pay Commission submitted its recommended minimum wage rates for April 2026 to the Government on 27 October 2025, proposing a National Living Wage of £12.71 an hour for workers aged 21 and over.
Renters' Rights Act 2025 receives Royal Assent
The Renters' Rights Act received Royal Assent on 27 October 2025, changing the law on rented homes in England, with most provisions due to take effect from 1 May 2026.
Scottish Government submits evidence to independent State Pension age review
The Scottish Government has sent evidence to the independent State Pension age review, citing lower life expectancy in Scotland, pensioner poverty, demographic change and unpaid compensation for 1950s-born women.
Treasury Committee publishes report recommending no cut to Cash ISA limit
The Treasury Committee has told the Government not to cut the Cash ISA limit, concluding that a lower allowance is unlikely to move significant sums from cash savings into investments.
Work and Pensions Committee publishes Government response to Pathways to Work report
The Work and Pensions Committee has published the Government's response to its Pathways to work report, with its Chair warning that UC Health changes could push disabled people into poverty.
NAO publishes value for money report on DWP's tackling of benefit overpayments due to fraud and error
The National Audit Office says benefit overpayment levels remain too high but improved in 2024-25, and that the Department for Work and Pensions must now turn its strategy into effective implementation.
AWS outage disrupts Lloyds Banking Group online and mobile banking
An Amazon Web Services outage on 20 October 2025 disrupted online and mobile banking at Lloyds Bank, Halifax and Bank of Scotland, with some services later restored.
BSA publishes Budget submission warning against Cash ISA limit cuts
The Building Societies Association has told the Treasury that cutting the annual Cash ISA limit would penalise savers and could reduce mortgage lending and economic output.