Money news: page 5
- July 2026
Benefit rates for 2026-27 take effect
Age UK has published the benefit rates in force for 2026-27, covering the State Pension, Pension Credit, disability and carer's payments, bereavement benefits and working-age benefits.
BNPL regulation due to come into effect
Buy now pay later regulation is due to take effect in July 2026, bringing Section 75 protection and access to the Financial Ombudsman for shoppers using deferred payment credit.
BNPL regulation rules come into force
Rules regulating buy-now-pay-later credit came into force in July 2026, after Parliament approved plans to bring the sector under regulation in July 2025.
Consultation launched on Leasehold Enfranchisement Valuation Rates
The government has opened a consultation on the valuation rates used to calculate lease extension and freehold purchase costs, with responses now due by 21 October 2026.
Consumer Council publishes research on Northern Ireland bank branch closures
The Consumer Council for Northern Ireland has published research finding that Northern Ireland lost around 48% of its physical bank branches since 2020, with closures affecting consumers and small businesses in urban and rural areas.
Deadline set for migration to New Payments Architecture
The Payment Systems Regulator has set 1 July 2026 as the deadline for migrating Faster Payments to new infrastructure, with its APP fraud reimbursement rules carrying over.
FCA regulation of most BNPL agreements begins
Most buy now pay later agreements taken out from 15 July 2026 are regulated by the Financial Conduct Authority, bringing affordability checks, Ombudsman escalation and section 75 protections.
Independent evaluation of the APP scams policies concludes
Frontier Economics has published its independent evaluation of the Payment Systems Regulator's APP scams policies, and the regulator has set out a timetable running to a formal consultation in December 2026.
Ofgem energy price cap changed in July 2026, raising gas and electricity prices
Ofgem's July 2026 energy price cap change raised gas and electricity prices, lifting the average direct debit dual fuel bill to an estimated £1,862 a year, £221 more than before.
Ofgem reduces TDCV levels again in July 2026
Ofgem cut the assumed typical household consumption used in its price cap publications from July 2026, lowering gas by 17% to 9,500 kWh and electricity by 7% to 2,500 kWh.
- June 2026
Compensation scheme starts for loans taken out after 1 April 2014
The FCA's motor finance compensation scheme opens on 30 June 2026 for loans taken out from 1 April 2014, with 12.1 million agreements eligible and average payouts of around £830.
New research quantifies poverty premium at up to £736 a year for low-income households
Fair By Design and the University of Bristol find 95% of low-income households in Britain pay an average £380 a year more for essentials, with the highest premiums reaching £736.
Working-age customers begin receiving Simple Assessment letters
HMRC has begun sending Simple Assessment letters for the 2025 to 2026 tax year, with around 1.8 million due and payment owed by 31 January 2027 unless a letter shows otherwise.
Consumer Duty examples added to CONC 2.2.2 guidance
The FCA has added guidance to its consumer credit rules listing behaviour likely to breach Principle 6 and the Consumer Duty, including repossession of a customer's home other than as a last resort.
FCA updates ICOBS 5.3 guidance on advised insurance sales
The Financial Conduct Authority has added new handbook guidance on advised insurance sales, covering suitability across packaged policies and pure protection contracts, effective from 26 June 2026.
Guidance updated on information provided to repeat overdraft users in financial difficulty
The FCA has updated its guidance on how firms must inform repeat overdraft users showing signs of financial difficulty, covering their financial position, credit file reporting and available options.
Great British Summer Savings VAT cut takes effect
A temporary VAT cut from 20% to 5% on children's restaurant meals and eligible attraction tickets took effect on 25 June 2026, with the scheme launched at ODEON Milton Keynes.
Technical consultation on the draft ISA amending legislation opens
HMRC has opened a technical consultation on draft regulations that will cut the annual Cash ISA limit to £12,000 for under-65s from 6 April 2027, alongside new anti-circumvention rules.
Technical consultation opens on draft ISA Amendment Regulations 2026
HMRC has opened a technical consultation on draft regulations that would cut the annual Cash ISA subscription limit for under-65s to £12,000 from 6 April 2027, with the consultation running to 2 August 2026.
Which? finds cancelled card loophole can let fraud follow replacement cards
Which? has found that automatic card updating services can carry stolen card details onto replacement cards, and that most major high street banks give customers no way to opt out.
Consultation on tackling lower value tax debts opens
HMRC has opened a consultation on extending its existing powers to recover lower value tax debts through direct monthly deductions from people who persistently do not engage with it.
Government announces anti-circumvention rules for reduced cash ISA limit
The government has set out anti-circumvention rules to support the reduced £12,000 cash ISA limit for under-65s from April 2027, including transfer restrictions and a 22% charge on interest on cash held in non-cash ISAs.
Government launches First Time Buyer ISA consultation
HM Treasury has opened a consultation on a new, simpler ISA for first time buyers that would replace the Lifetime ISA, with responses accepted until 18 August 2026.
Supporting evidence threshold set to £155.00 per month for July to September 2026
The Accountant in Bankruptcy has set the supporting evidence threshold used in Scottish debt solutions at £155.00 per month for the period from 1 July to 30 September 2026.
Which? reports card-not-present fraud hit record case volumes and losses in 2025
Which? reports that card-not-present fraud reached record case volumes in 2025, with 3.2m cases and £423.5m in losses, as overseas processing of online card fraud rose to 77%.
New PIP award duration rules extended to existing caseload
The Department for Work and Pensions has extended its changed Personal Independence Payment award durations to the existing caseload from 16 June 2026, alongside statistics showing four million claimants in England and Wales.
Deadline for landlords to issue updated contract terms
Landlords in Wales had to give existing contract holders updated contract terms by 14 June 2026, under changes in force from 1 June 2026 aimed at stopping discrimination against tenants.
FCA data shows 29% rise in pensions fully withdrawn since 2018-19
Financial Conduct Authority data shows just over 462,000 pensions were withdrawn in full in 2024-25, a 29% rise on the 357,122 fully withdrawn in 2018-19.
High Court appoints special administrators over EES
The High Court has appointed special administrators over Euro Exchange Securities UK Ltd after the FCA required the firm to stop carrying on regulated electronic money and payment services.
Claimants can now object to landlords' requests to recover rent and service charge arrears from UC payments
Universal Credit claimants can now object to a landlord's request to recover rent and service charge arrears from their benefit payment, under guidance updated by the Department for Work and Pensions on 10 June 2026.