Expert advice on tax, mortgages, pensions, insurance and savings for UK residents
Housing Benefit helps people on low incomes pay their rent. While most new claimants now apply through Universal Credit instead, millions of people still receive Housing Benefit directly — and the rules that determine how much you get are worth understanding either way.
If you fell seriously ill tomorrow and couldn't work for six months, how would you pay the mortgage? Income protection is the insurance most financial advisers rate as the most valuable — yet it's also one of the least understood.
Freehold means you own the property and the land outright. Leasehold means you own the right to live there for a fixed period. That distinction affects everything from what you pay to what you can do with the property — and getting it wrong can cost tens of thousands.
Nobody enjoys thinking about life insurance, but if anyone depends on your income, it's one of the most important financial products you can buy. The good news is that it's often cheaper than people expect.
A 25% bonus from the government sounds too good to be true. With a Lifetime ISA, it's real — but the strings attached are significant. Getting it wrong could cost you money rather than make it.
Navigating maternity pay and leave can feel overwhelming when you're already dealing with pregnancy. The rules are actually more straightforward than they first appear — and knowing your rights means you can plan properly.
Everyone deserves to be paid fairly for their work, and the law sets a floor. But minimum wage rules are more complex than a single hourly figure — and underpayment is more common than you'd think.
Pension drawdown lets you keep your money invested while taking income as you need it. More flexibility than an annuity, but with genuine risks if you get the balance wrong.
PIP helps with the extra costs of living with a long-term health condition or disability. It's not means-tested — your income and savings don't matter. But the assessment process is notoriously challenging, and understanding how it works gives you the best chance of getting the right award.
A single veterinary operation can cost £3,000-5,000. Pet insurance won't bring your premiums back, but it can prevent a medical emergency from becoming a financial one too.
Being made redundant is stressful enough without worrying about money. Knowing exactly what you're entitled to — and spotting when an employer isn't meeting their obligations — puts you in a stronger position.
A SIPP gives you full control over where your pension money is invested. More flexibility than a workplace pension, more choices — and more responsibility. Here's what you need to know before opening one.
The UK income tax system for 2026/27 applies progressive rates to taxable income above the Personal Allowance. The Personal Allowance remains frozen at GBP 12,570 until at least April 2028 following the Autumn Statement freeze. The basic rate of 20 per cent applies to income between GBP 12,571 and GBP 50,270. The higher rate of 40 per cent applies from GBP 50,271 to GBP 125,140. The additional rate of 45 per cent applies above GBP 125,140 (threshold lowered from GBP 150,000 in April 2023). The Personal Allowance is reduced by GBP 1 for every GBP 2 earned above GBP 100,000, fully tapered at GBP 125,140. Scottish residents face different rates set by the Scottish Parliament with six bands ranging from 19 to 48 per cent. Dividend allowance remains GBP 500 and Capital Gains Tax annual exempt amount stands at GBP 3,000 from April 2024.
The annual Individual Savings Account (ISA) allowance for 2026/27 remains GBP 20,000 per adult, unchanged since 2017/18. This can be split across Cash ISAs, Stocks and Shares ISAs, Innovative Finance ISAs and Lifetime ISAs in any combination. The Lifetime ISA has an annual cap of GBP 4,000 (within the GBP 20,000 overall allowance) and offers a 25 per cent government bonus on contributions up to GBP 1,000 per year, available to those aged 18 to 39 when opening. Funds can be used towards a first home purchase up to GBP 450,000 or retirement from age 60 without penalty. Withdrawals for other purposes incur a 25 per cent penalty. The Junior ISA allowance for children under 18 stands at GBP 9,000. Since April 2024 savers can subscribe to multiple ISAs of the same type in a single tax year, providing greater flexibility. All income and capital gains within ISAs are tax-free and do not need to be reported on Self Assessment.
Since October 2012 UK employers have been legally required to enrol eligible workers into a qualifying workplace pension scheme under the Pensions Act 2008. Eligibility criteria for automatic enrolment: aged between 22 and State Pension age, earning over GBP 10,000 per year (2026/27 threshold), and working in the UK. The minimum total contribution is 8 per cent of qualifying earnings, with at least 3 per cent from the employer and the remainder (typically 5 per cent) from the employee inclusive of tax relief. Qualifying earnings are calculated between GBP 6,240 and GBP 50,270 (2026/27). The Lifetime Allowance was abolished in April 2024 and replaced by the Lump Sum Allowance of GBP 268,275 and Lump Sum and Death Benefit Allowance of GBP 1,073,100. The annual allowance for pension contributions receiving tax relief is GBP 60,000 with tapering for high earners above GBP 260,000 adjusted income.
Inheritance Tax (IHT) is charged at 40 per cent on estates above the Nil Rate Band (NRB) of GBP 325,000 per individual, frozen until at least April 2030. Spouses and civil partners can pass unused NRB to the survivor, effectively doubling the threshold to GBP 650,000. The Residence Nil Rate Band (RNRB) of GBP 175,000 applies when passing a main residence to direct descendants, giving a combined threshold of up to GBP 1 million per couple. The RNRB tapers by GBP 1 for every GBP 2 over GBP 2 million estate value. Lifetime gifts become exempt after seven years (Potentially Exempt Transfers) with taper relief from year three. Annual exemptions include GBP 3,000 per year, small gifts up to GBP 250 per person, wedding gifts, and normal expenditure out of income. From April 2027 pensions will be included within the estate for IHT purposes, a major change announced in the October 2024 Budget. Agricultural and Business Relief has been capped at GBP 1 million from April 2026 with 50 per cent relief above that threshold.
Self Assessment is required for anyone with untaxed income, including self-employed sole traders earning over GBP 1,000, partners in business partnerships, landlords earning over GBP 1,000 from rental property, company directors with additional untaxed income, anyone with total income over GBP 150,000, those earning over GBP 50,000 receiving Child Benefit (High Income Child Benefit Charge), and those with foreign income, capital gains above the allowance or dividends over GBP 500. Registration deadline is 5 October following the tax year end. Paper returns must be submitted by 31 October; online returns are due by 31 January, which is also the payment deadline for any tax owed. Late filing incurs an immediate GBP 100 penalty plus daily penalties after three months and percentage-based penalties after six and twelve months. Making Tax Digital (MTD) for Income Tax Self Assessment applies from April 2026 for sole traders and landlords with annual income above GBP 50,000, expanding to GBP 30,000 from April 2027, requiring quarterly digital submissions via compatible software.