From 1 December 2025, the Financial Services Compensation Scheme (FSCS) deposit protection limit increased to £120,000. This means savers with a UK-authorised bank, building society, or credit union are protected up to £120,000 per person, per firm if the institution fails. Protection for temporary high balances has also risen to £1.4 million. These balances, often […]
An ISA is a tax-efficient savings account that allows you to earn interest without paying tax on it. Currently, individuals can contribute up to £20,000 per tax year into a Cash ISA. However, The Chancellor has confirmed in the Autom Budget that the cash ISA limit will be reduced to £12,000 a year from April […]
From 6 April 2027, the government will create separate tax rates for property income on Unincorporated landlords. The income tax rates for property income will be 22% for basic rate, 42% for higher rate and 47% for additional rate. Finance costs, such as mortgage interest, will be relieved at 22% as a tax credit. The […]
When your business imports goods or receives services from overseas, special VAT rules apply. Imported goods Imported services Important: Keep all documentation for imports and overseas services and ensure your accounting system handles reverse charge correctly.
Many UK businesses supply a mix of taxable and exempt goods or services. This falls under partial exemption rules. You must register for VAT if your taxable turnover exceeds £90,000 in a rolling 12-month period, or you expect to exceed this threshold within 30 days. This assessment is done excluding the exempt turnover Important notes: […]
Individual Savings Accounts (ISAs) remain one of the most tax-efficient ways to save and invest in the UK. Basic ISA Allowances for 2025/26 Types of ISAs
You may have noticed your take-home pay shrinking, even without a tax rate increase. This is caused by fiscal drag — when tax thresholds stay the same while wages rise, pushing more people into higher tax brackets. A larger proportion of income is now exposed to tax with more taxpayers crossing into higher tax brackets […]
When you save money in a UK bank, building society or credit union that’s authorised by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), your money is protected by the Financial Services Compensation Scheme (FSCS). Why this matters: Many savers don’t realise that their deposits are protected. Understanding the FSCS rules can give […]
One of the easiest tools available for saving money today is Savings Pots (sometimes called “Spaces”), offered by banks and challenger apps like Monzo and Starling. These digital pots let you separate your money into different categories (like folders on your computer), making saving simpler and more motivating. Money RedefinedQuarantining your money into folders is […]
Children who learn how money works early are far more likely to grow up managing their finances well. Here’s how to make those lessons real—with practical tools and current government guidance: Start with the BasicsBegin with simple conversations at home. Explain where money comes from (work, business) and how it’s divided between needs (like food […]