Money news: page 4
- August 2026
Co-chair update on the Timms Review of PIP published
The Department for Work and Pensions and Sir Stephen Timms have published a co-chair update on the progress of the Timms Review of Personal Independence Payment, dated 12 August 2026.
More than 436,000 sole traders and landlords send first MTD for Income Tax quarterly update
HMRC says more than 436,000 sole traders and landlords sent their first Making Tax Digital for Income Tax quarterly update by the 7 August 2026 deadline, with over 570,000 signed up.
Pensioners begin receiving Simple Assessment letters
HMRC has begun sending Simple Assessment letters to pensioners from 12 August 2026, part of around 1.8 million letters for the 2025 to 2026 tax year.
Financial Ombudsman outlines next phase of service reforms
The Financial Ombudsman Service has confirmed new powers to dismiss complaints from 1 October 2026, a registration stage for next year and joint thematic reviews with the FCA.
ONS publishes detailed CPI and CPIH figures for August 2026
The Office for National Statistics said CPI inflation rose to 3.1 per cent in the 12 months to August 2026, with transport and motor fuels the largest upward contributor to the increase.
Deadline for first Making Tax Digital for Income Tax quarterly update
More than 864,000 sole traders and landlords must send their first Making Tax Digital for Income Tax quarterly update to HMRC by 7 August 2026, covering income and expenses for the first three months of the tax year.
Eligibility statement for Warm Home Discount 2026 to 2027 published
The Department for Energy Security and Net Zero has published the Warm Home Discount eligibility statement for England and Wales for the 2026 to 2027 scheme year, setting out who qualifies.
Which? publishes updated guidance on spotting online shopping scams
Which? has published updated guidance on identifying fake shopping websites, warning that artificial intelligence tools now let criminals build convincing scam sites in minutes.
Consultation on ISA Amendment Regulations 2026 closes
A technical consultation on draft regulations to cut the Cash ISA subscription limit for under-65s to £12,000 from April 2027 closed at 11:59pm on 2 August 2026, with HMRC now analysing responses.
Free school meals eligibility expands in England to all families on Universal Credit
Free school meals in England are now open to all families on Universal Credit from the start of this term, with government estimates suggesting an extra 500,000 children qualify.
Housing Benefit migration to Universal Credit under way
Housing Benefit is being replaced by Universal Credit, with the Department for Work and Pensions sending migration notices that set a deadline to apply, and new claims restricted to pensioners and some supported housing.
UK private rent inflation accelerated to 3.8% in August 2026
Average UK private rent reached £1,400 in August 2026, up 3.8% on a year earlier, the fastest annual growth since December, while house price inflation slowed to 1.4%.
- July 2026
BSA research shows mortgage access concerns falling but affordability still the main barrier
BSA research finds 37% of people now see mortgage access as a barrier to buying a home, down from 48% two years ago, with affordability still the biggest obstacle.
StepChange calls for stronger credit card consumer protections
StepChange Debt Charity has published a report on the credit card regulatory framework, calling for earlier lender intervention, stronger affordability checks and higher minimum repayments as polling shows 15% of UK adults struggle with repayments.
CMA publishes final updated unfair contract terms guidance (CMA37) after consultation
The Competition and Markets Authority has published the outcome of its consultation on revised unfair contract terms guidance, with the final version replacing the existing CMA37 document.
UK CPIH inflation falls to 2.8% and CPI to 2.6% in June 2026
UK consumer price inflation slowed in June 2026, with CPIH at 2.8% and CPI at 2.6%, as transport and food prices eased, according to the Office for National Statistics.
UK HPI for May 2026 published showing 2.7% annual house price growth
The May 2026 UK House Price Index puts the average UK property at £271,000, up 2.7% on the year, with London the only English region to record an annual fall.
CMA writes to private parking operators over appeals and extra charges
The Competition and Markets Authority has written to private parking operators about appeals and extra charges, opened an investigation into Euro Car Parks and sent recommendations to government.
Draft ISA amendment regulations published for consultation
Draft regulations published on 16 July 2026 would cap cash ISA subscriptions at £12,000 for under-65s from 6 April 2027 and tax interest on cash held inside stocks and shares and innovative finance ISAs.
BNPL users can bring complaints to the Financial Ombudsman from 15 July 2026
From 15 July 2026 buy now pay later agreements taken out on or after that date fall under FCA rules, and consumers can bring eligible complaints to the Financial Ombudsman Service.
Buy now pay later agreements come into FOS scope
Buy now pay later agreements taken out on or after 15 July 2026 can now be taken to the Financial Ombudsman Service, extending formal dispute resolution to a sector that previously sat outside it.
Government opens consultation on modernising payment services regulation
HM Treasury has opened a consultation on modernising payment services regulation, seeking views on how the framework should adapt to tokenised payments, Open Banking and agentic payments.
TPR publishes new five-year Corporate Strategy, Corporate Plan and Regulatory Roadmap
The Pensions Regulator has published a five-year Corporate Strategy, a Corporate Plan for 2026-27 and a Regulatory Roadmap setting out when reform consultations, regulation and guidance will reach the workplace pensions industry.
Timms Review Interim Report finds PIP no longer fit for purpose
The Timms Review's interim report, published in July 2026, found Personal Independence Payment no longer fit for purpose, and disabled people are now being invited to help shape its final recommendations.
FCA publishes Mills Review on AI in retail financial services
The Financial Conduct Authority has published the Mills Review, setting out how artificial intelligence could reshape UK retail financial services and regulation by 2030.
Housing Benefit earned income disregard regulations laid
The government has laid corrective regulations to fix errors in the 2026 Housing Benefit earned income disregard rules, so the higher disregards still take effect from 5 October 2026.
Card fraud has rebounded, affecting 14% of people in two years
A Which? survey found 14% of people experienced card fraud in the last two years, with the figure rising to one fifth among 25 to 34-year-olds, as an automatic card-updating service helps fraudsters keep spending.
Bank of England publishes 2026 Q2 Credit Conditions Survey
The Bank of England's 2026 Q2 Credit Conditions Survey, published on 2 July 2026, shows household secured credit availability unchanged while unsecured availability rose and unsecured default rates increased.
HMRC publishes Transformation Roadmap update with app usage figures
HMRC has published a Transformation Roadmap update reporting 7.6 million app users in 2025 to 2026 and confirming plans to move more than 100 personal tax letters online from summer 2027.
Upper Tribunal suspends parts of motor finance compensation scheme
The Upper Tribunal has suspended parts of the FCA's motor finance redress scheme, so lenders need not calculate or pay compensation until the legal process concludes, though other rules still apply.