Borrowing and saving On 23rd March 2023, the Bank of England increased the Bank Rate by 0.25 percentage points, to … Continue reading Cost of living impacts
Cost of living impacts
Category: Cost of Living
When can you claim your free childcare?
At the Spring Budget Jeremy Hunt announced 30hrs of free childcare for children aged 9 months - 4 years for … Continue reading When can you claim your free childcare?
Drive to help workers on Universal Credit boost prospects
UniversalCredit claimants in work across Great Britain can now benefit from extra support to help secure promotions and higher wages … Continue reading Drive to help workers on Universal Credit boost prospects
Spring Budget 2023 – energy support extended 3 months
Millions of households will get more support with high energy bills to help ease the cost of living, the Chancellor … Continue reading Spring Budget 2023 – energy support extended 3 months
Spring Budget 2023
The Chancellor of the Exchequer presented his Spring Budget 2023 to Parliament on Wednesday 15th March 2023. For the full … Continue reading Spring Budget 2023
HMRC revise reporting obligations on pay advances
HM Revenue and Customs has, as part of the February 2023 Employer Bulletin, confirmed a concession on PAYE responsibilities for … Continue reading HMRC revise reporting obligations on pay advances
New Chair of the Money and Pensions Service
The Department for Work and Pensions (DWP) has announced the appointment of Sara Weller CBE as the new permanent Chair … Continue reading New Chair of the Money and Pensions Service
Boost your childcare budget this half term
Families looking for childcare places during February half term could be missing out on a government top-up to help pay … Continue reading Boost your childcare budget this half term
Chancellor Jeremy Hunt’s speech at Bloomberg
In his speech Friday 27th January 2023, Chancellor Jeremy Hunt set out his vision for long-term prosperity in the UK. … Continue reading Chancellor Jeremy Hunt’s speech at Bloomberg
Cost of living boost for students
Financial package to help students with living costs and a further freeze on tuition fees. Students in need are to … Continue reading Cost of living boost for students
Take the bus – Get around for £2
millions across England can travel by bus for £2 due to a £60 million government fund to bring down the … Continue reading Take the bus – Get around for £2
Plan to build an innovative economy
Prime Minister Rishi Sunak's plan to build an innovative economy delivering more jobs and higher pay. In the short time … Continue reading Plan to build an innovative economy
Get Around for £2 by bus
New scheme to help passengers save on bus fares launched across over 130 bus operators. millions of people across England … Continue reading Get Around for £2 by bus
Cost of living – Mortgage lenders’ commitments to borrowers
The Chancellor met with major lenders, Martin Lewis, and the FCA to discuss how lenders can support those who may … Continue reading Cost of living – Mortgage lenders’ commitments to borrowers
Significant minimum pay rise may impact employer reward strategies
Employers may need to review their reward strategies! With the proposal of the Low Pay Commission (LPC) for a significant … Continue reading Significant minimum pay rise may impact employer reward strategies
Autumn Statement 2022
Dear PAYadvice.UK, The Chancellor of the Exchequer, the Rt Hon Jeremy Hunt MP, made his Autumn Statement speech. The Chancellor … Continue reading Autumn Statement 2022
National Minimum and Living Wage rise for April 2023
The government states it is committed to ending low pay. From 1st April 2023, the National Living Wage (NLW) will … Continue reading National Minimum and Living Wage rise for April 2023
Time’s up for rogue landlords
Government toughen inspection of failing landlords and improve support for residents in supported housing. Rogue landlords who exploit the supported … Continue reading Time’s up for rogue landlords
19 million plus households have received council tax rebates
The government is extending the deadline for claims as over 99% of households receive the payment. 99% of eligible households … Continue reading 19 million plus households have received council tax rebates
Free legal advice pilot helping people facing financial difficulties
Around 20,000 people facing debt difficulties will be invited to receive free early-stage legal advice through a new pilot launched … Continue reading Free legal advice pilot helping people facing financial difficulties
Families claiming tax credits to receive second Cost of Living Payment from 23rd November 2022
Tax credits only customers will receive their second Cost of Living payment from 23rd November 2022. More than one million … Continue reading Families claiming tax credits to receive second Cost of Living Payment from 23rd November 2022
Chancellor Statement – 17th October 2022
Speech to the House of Commons as delivered by Chancellor Jeremy Hunt. Mr Speaker, The central responsibility of any government … Continue reading Chancellor Statement – 17th October 2022
Chancellor brings forward further Medium-Term Fiscal Plan measures
The Chancellor of The Exchequer Jeremy Hunt has, Monday 17th October 2022, brought forward a number of measures from 31st … Continue reading Chancellor brings forward further Medium-Term Fiscal Plan measures
New Chancellor and Secretary to the Treasury appointed
King Charles III has been pleased to approve the following appointments: Rt Hon Jeremy Hunt MP as Chancellor of the … Continue reading New Chancellor and Secretary to the Treasury appointed
Chancellor accepts request to stand aside
Friday 14th October 2022 saw one of the shortest service Chancellor of the Exchequer as Kwasi Kwarteng stands aside at … Continue reading Chancellor accepts request to stand aside
Teenagers missing out on a stash of cash
Teenagers could have an average of £2,100 in their Child Trust Fund savings account waiting to be claimed. HM Revenue … Continue reading Teenagers missing out on a stash of cash
Over eight million households to receive second Cost of Living Payment from 8th November 2022
The £324 Cost of Living Payment, which follows on from a £326 payment made from July, is part of £1,200 … Continue reading Over eight million households to receive second Cost of Living Payment from 8th November 2022
Additional Rate tax update
The Chancellor confirmed an update to plans for the Additional Rate tax on the morning of 3rd October 2022. “From … Continue reading Additional Rate tax update
Payroll 2022-23: November changes to NICs
The following has been provided by the HMRC Software Developer Support Team (SDST):- Dear Developer, On 22 September the Government … Continue reading Payroll 2022-23: November changes to NICs
£150 Disability Cost of Living Payments begin
Six million people who are paid certain disability benefits will begin to receive a one-off payment of £150 from Tuesday … Continue reading £150 Disability Cost of Living Payments begin
Who is Kwasi Kwarteng?
Chancellor of the Exchequer - The Rt Hon Kwasi Kwarteng MP It is increasingly looking as if the government will … Continue reading Who is Kwasi Kwarteng?
Mini-budget imminent
Following the state funeral on Monday 19th September 2022, the government are expected to hold a fiscal event or mini … Continue reading Mini-budget imminent
Approved Mileage Allowance Payments error
HMRC’s Income Tax Policy Team has indicated that over the last 6 months, both HMRC & HM Treasury have received … Continue reading Approved Mileage Allowance Payments error
Uprated real Living Wage rate imminent
The Living Wage Foundation has brought forward the announcement of the new Living Wage Rates (and London Living Wage rate … Continue reading Uprated real Living Wage rate imminent
Over 16 million households receive cost of living council tax rebate
Around 90% of eligible households have received the government’s £150 council tax rebate to help with the cost of living. … Continue reading Over 16 million households receive cost of living council tax rebate
Preparing for the 3rd National Insurance payroll change!
With the resignation of Boris Johnson and the ongoing election of a new Prime Minister with announcements to be made … Continue reading Preparing for the 3rd National Insurance payroll change!
Rent cap on social housing to protect millions of tenants from rising cost of living
Under the proposals being consulted on, a cap on social housing rent increases would be put in place for the … Continue reading Rent cap on social housing to protect millions of tenants from rising cost of living
TUC calls on ministers to get pay rising, as real wages fall again
Commenting on the labour market figures published by the ONS, which show real wages falling by 4.1 per cent (on … Continue reading TUC calls on ministers to get pay rising, as real wages fall again
Customer survey ranks banks amid cost of living crisis
A survey of thousands of individuals and small businesses shows how well banks are looking after their customers as people … Continue reading Customer survey ranks banks amid cost of living crisis
Cheaper broadband for struggling families
Broadband bills could be cut for millions of low-income households under plans to encourage social tariffs. New system allows customers … Continue reading Cheaper broadband for struggling families
£400 energy bills discount this winter
The UK government sets out further details of the Energy Bills Support Scheme. Households to start receiving £400 off their … Continue reading £400 energy bills discount this winter
Rises to teachers’ salaries
Teachers are to benefit from pay increases of between 5% and 8.9% from September 2022, as the government has accepted … Continue reading Rises to teachers’ salaries
1.2 million low earners to see boost in take-home pay
Low earners who save through a Net Pay Arrangement (NPA) pension will get the same level of government top-up as … Continue reading 1.2 million low earners to see boost in take-home pay
More than 33,600 tax credits customers use HMRC app to renew
More than 33,600 have successfully used the HMRC app to renew their tax credits claim so far this year, a … Continue reading More than 33,600 tax credits customers use HMRC app to renew
One in four families get first government Cost of Living Payment
Almost one in four families across England, Wales, Scotland and Northern Ireland will get £326 sent directly to them, with … Continue reading One in four families get first government Cost of Living Payment