Money news: page 21
- March 2025
SDLT nil-rate bands and FTBR thresholds reverted to pre-September 2022 levels
From 1 April 2025 the stamp duty nil-rate band in England and Northern Ireland fell back to £125,000, with first-time buyer thresholds also reduced, as legislated in 2023.
Stamp Duty Land Tax changes affected house price base effects
The Office for National Statistics says slower UK and English house price inflation reflects a base effect from the Stamp Duty Land Tax changes that took effect in England and Northern Ireland on 1 April 2025.
OBR to publish updated economic and fiscal forecasts
The Office for Budget Responsibility was due to publish updated economic and fiscal forecasts on 26 March 2025, with attention on the Chancellor's fiscal rule and planned cuts to disability benefits.
Scottish Adult Disability Living Allowance introduced and DWP Disability Living Allowance awards transferred
All adults in Scotland receiving Disability Living Allowance from the Department for Work and Pensions had their awards moved to Scottish Adult Disability Living Allowance from 21 March 2025, with no new claims accepted.
HM Treasury announces review of the Financial Ombudsman Service
HM Treasury has announced a review of the Financial Ombudsman Service, including its compensation practices, as the service consults on replacing its long-standing 8% interest rate on awards.
Stage 3 public consultation opens on proposals to reshape the regime
The independent Stage 3 review of Scotland's statutory debt solutions has published its final report, setting out 52 recommendations for Scottish Ministers after a consultation that ran from 12 March to 4 June 2025.
Final report of card scheme and processing fees market review published
The Payment Systems Regulator has published the final report of its market review into card scheme and processing fees, finding Mastercard and Visa raised core fees by at least 25% since 2017.
2025 Spring Statement balances the books largely through social security cuts
The Chancellor closed a £4.1 billion shortfall in the 2025 Spring Statement mainly through social security cuts, with no fresh tax rises, according to Resolution Foundation analysis.
Consultation on statutory debt solutions held
An independent review of Scotland's statutory debt solutions has published 52 recommendations after a March 2025 consultation, with the Scottish Government to respond after the Parliamentary Election.
CSEW computer misuse down 32% to around 692,000 incidents in YE March 2025
Computer misuse incidents in England and Wales fell 32% to around 692,000 in the year to March 2025, while survey-estimated fraud rose 31% to around 4.2 million incidents.
CSEW fraud up 31% to around 4.2 million incidents in YE March 2025
Crime Survey for England and Wales estimates show fraud rose 31% to around 4.2 million incidents in the year to March 2025, the highest since the survey began collecting fraud data.
First participant connects to pensions dashboards ecosystem
The first participant connected to the pensions dashboards ecosystem in March 2025, with 700 providers and schemes connected by December 2025, covering over 60 million workplace and personal pension records.
Government announces changes to PIP claiming rules
The government said in March 2025 that it will change the rules for claiming Personal Independence Payment, meaning fewer people can get it, with the changes not happening before November 2026.
Government confirms DRD restart in Spring Statement
The government confirmed in the Spring Statement that HMRC will restart its Direct Recovery of Debts power, taking unpaid tax directly from bank accounts and cash Isas.
Government publishes impact assessments on disability benefit cuts
The government has published impact assessments alongside the Spring Statement showing its disability benefit plans will cut the incomes of one in five disabled people and push 50,000 more children into absolute poverty.
Government states it is looking at ISA reform options in Spring Statement 2025
The Government said in its Spring Statement 2025 that it was looking at ISA reform options to balance cash and equities, as a Treasury Committee report set out the arguments for and against cutting the Cash ISA allowance.
Green mortgage market grows from four products to over 90
The number of green mortgage products in the UK rose from four in 2019 to more than 90 in 2025, according to Green Finance Institute data, with almost 60 of them residential mortgages.
Household Support Fund ends 31 March 2025
The Household Support Fund ends on 31 March 2025, the same date as the deadline to claim the 2024/25 Winter Fuel Payment and the extension of Northern Ireland's Welfare Supplementary Payments.
OBR publishes forecast alongside Spring Statement 2025
The Office for Budget Responsibility's Spring Statement forecast found no clear evidence that the government's disability benefit plans will move more disabled people into work, as new impact assessments set out the cuts' effects.
PRA consults on proposed increase to deposit compensation limit
The Prudential Regulation Authority consulted in March 2025 on raising the deposit compensation limit, and the FSCS now confirms the limit rose to £120,000 on 1 December 2025.
PRA consults on raising FSCS deposit protection limit from £85,000 to £110,000 and THB limit from £1 million to £1.4 million
The Prudential Regulation Authority has proposed raising FSCS deposit protection from £85,000 to £110,000 and the temporary high balance limit from £1 million to £1.4 million, both from 1 December 2025.
Scottish Adult Disability Living Allowance first introduced in Scotland
Adults in Scotland receiving Disability Living Allowance had their awards moved automatically to a new Scottish Adult DLA from the end of March 2025, with no application and no change in payment amount.
Six English councils permitted to raise council tax above the 4.99% cap
Six English councils have been allowed to raise council tax above the 4.99% referendum threshold for 2025-26, with Bradford permitted the largest increase at 9.99%.
Spring Statement announces payroll option for paying the high-income child benefit charge
Families liable for the high income child benefit charge will be able to pay it through their tax code and company payroll from summer 2025, under changes announced in the Spring Statement.
Spring Statement commits to above-inflation UC standard allowance increase from April 2026
The Spring Statement committed to an above-inflation rise of around 2 per cent in the Universal Credit standard allowance from April 2026, while most benefits rose by 1.7 per cent in April 2025.
Supreme Court hears DWP appeal in Bereavement Support Payment case
The Supreme Court has ruled against a widower denied Bereavement Support Payment because his late wife could not work, overturning earlier judgments in his favour and backing the DWP.
Treasury Committee finds nine top banks had at least 33 days of outages over two years
The Treasury Committee has written to Lloyds Banking Group over an IT glitch that let some customers see other people's account information, and has restated its earlier finding on bank outages.
Warm Home Discount rebates to be applied to bills by end of March 2025
Confirmed Warm Home Discount rebates of £150 for winter 2024/25 should be applied automatically to electricity bills in England, Wales and Scotland by the end of March 2025.
- February 2025
Government consults on removing the high cost to heat threshold for the Warm Home Discount in England and Wales
The government is consulting on removing the high cost to heat threshold for the Warm Home Discount in England and Wales, which would make all households on means-tested benefits eligible for the £150 rebate.
Consultation closed on permitted insurance fees
A government consultation on permitted insurance fees for landlords, freeholders and property managing agents in England and Wales closed at 11:59pm on 24 February 2025, with a response published later.