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Bank Rate and the Monetary Policy Committee

Bank Rate anchors the rates banks charge each other; it is not the rate a saver is paid or a borrower is charged. The Monetary Policy Committee sets it at the rate the Bank of England pays to and charges on reserves.

ISA, Junior ISA and Lifetime ISA: the separate annual limits

An ISA wrapper shelters savings and investments from UK income tax and capital gains tax. The annual subscription limit, the Junior ISA limit, and the Lifetime ISA sub-limit are separate limits administered by HMRC.

FSCS £120,000 limit and the per-firm rule

The Financial Services Compensation Scheme protects eligible deposits up to £120,000 per eligible person per authorised firm. Firms that share a banking licence count as one firm, and qualifying temporary high balances are protected up to £1.4 million for six months.

Stamp Duty Land Tax on residential property in England and Northern Ireland

Stamp Duty Land Tax is a progressive tax on property price bands. The standard threshold is £125,000; first-time buyers buying a property up to £500,000 pay nothing on the first £300,000. Scotland and Wales have their own land transaction taxes.

UK Income Tax: how the bands and Personal Allowance work

Income Tax in the UK is charged on income above the Personal Allowance. The Personal Allowance is £12,570 for the 2026/27 tax year, and the rates above it are 20% (Basic), 40% (Higher) and 45% (Additional). Scotland sets its own rates.

National Insurance Class 1: employee rates and thresholds for 2026-27

Class 1 National Insurance is deducted from an employee's earnings. The 2026-27 rates are 8% between the primary and upper earnings limits, and 2% above the upper limit.

Capital Gains Tax: the annual exempt amount and rates for 2026-27

Capital Gains Tax is charged on the gain from disposing of an asset, not the sale price. For the 2026-27 tax year the annual exempt amount is £3,000 and the main rates are 18% and 24%.

Pension tax relief and the annual allowance

Contributions to a registered pension scheme attract tax relief at your marginal rate. The annual allowance caps the tax-free contribution at £60,000 for the 2026-27 tax year, and a tapered allowance applies for high earners.

Student loan repayment plans: thresholds and rates

UK student loans are repaid as a percentage of income above a plan-specific threshold. The threshold and rate depend on which plan the borrower is on, which is determined by when the course started and which student finance body handled the loan.

Council Tax bands in England: how properties are valued and who sets the bill

Council Tax bands are based on the 1991 open-market value of a property. Parliament sets the band ranges across England, the Valuation Office places each property in a band, and the local council sets the actual amount payable.

Personal Savings Allowance and starting rate, 2026–27

Savings interest can fall within an unused Personal Allowance, the starting rate for savings and the Personal Savings Allowance. These are separate rules, administered by HMRC.

Dividend allowance and dividend tax rates, 2026–27

Dividend income has its own allowance and rates. The allowance does not establish a taxpayer’s band, and dividends inside an ISA have separate exemption rules.

Lifetime ISA: bonus, withdrawal charge and property cap

The Lifetime ISA contribution limit and government bonus are separate from the conditions for taking money out. A property price cap is only one first-home withdrawal condition.

New State Pension: weekly rate and qualifying years, 2026–27

The full new State Pension rate is a published weekly amount, not a promise of an individual award. The National Insurance record and transitional history affect entitlement.

Inheritance Tax: nil-rate bands and standard rate

The ordinary nil-rate band and residence nil-rate band are distinct. A published maximum residence band is conditional, and the standard rate applies to the taxable estate above the applicable threshold.

UK Marriage Allowance: transfer, eligibility and backdating

Marriage Allowance transfers part of one spouse or civil partner’s Personal Allowance. Eligibility depends on both partners’ tax positions, and a backdated claim depends on eligibility in each earlier year.

UK High Income Child Benefit Charge: threshold and taper

The charge can recover some or all Child Benefit when an individual’s adjusted net income exceeds the published threshold. It is based on individual income, with rules identifying which partner pays.

UK Tax-Free Childcare: top-up, caps and eligibility

Tax-Free Childcare adds government money to an eligible childcare account. The contribution rule, cap for each child, approved-provider requirement and household eligibility conditions are separate.

UK VAT: registration and deregistration thresholds

VAT registration uses taxable turnover rather than profit. The test for compulsory registration and the lower threshold for requesting cancellation serve different purposes, and cancellation requires HMRC confirmation.

UK Making Tax Digital for Income Tax: thresholds and dates

Making Tax Digital for Income Tax applies to qualifying sole traders and landlords by reference to earlier income. The published start dates depend on the tax year being assessed, not just current turnover.

United Kingdom Child Benefit: weekly rates

Child Benefit has a higher weekly rate for the eldest or only child and a separate rate for each additional child. Household changes and the tax charge have separate rules.

United Kingdom Help to Save: bonuses and eligibility

Help to Save combines a monthly deposit limit with bonuses based on the highest balances saved. Eligibility depends on Universal Credit, take-home pay and residence.

United Kingdom Premium Bonds: limits and prize draws

Premium Bonds offer entry into a monthly prize draw instead of interest. The minimum purchase, total holding limit and draw eligibility are separate product rules.

United Kingdom Self Assessment: registration and deadlines

Self Assessment has separate requirements for registration, filing and payment. A July payment deadline applies to payments on account, while late filing has its own penalties.

United Kingdom Annual Investment Allowance: qualifying items

Annual Investment Allowance permits a deduction for qualifying plant and machinery. The headline amount is separate from asset exclusions, accounting-period adjustments and shared allowances.

United Kingdom property and trading allowances

The property and trading allowances are separate annual tax exemptions. Gross income, deductible expenses and exclusions determine how each allowance can be used.

United Kingdom Private Residence Relief

Private Residence Relief can remove Capital Gains Tax on a home sale when all the full-relief conditions apply. Time away and the final ownership period have separate rules.

United Kingdom State Pension age: rise to 67

State Pension age depends on date of birth. The legislated rise from 66 to 67 is phased across birth-date bands, with intermediate ages expressed in years and months.

United Kingdom Pension Credit: Guarantee Credit

Guarantee Credit tops up income rather than paying the standard minimum as a flat award. The published weekly minimum differs for a single person and a couple.

United Kingdom Universal Credit: standard allowance

Universal Credit has one standard allowance for a household. Age and couple status set the published base amount, while extra elements and reductions affect the payment.

United Kingdom Gift Aid and higher-rate tax relief

Gift Aid lets qualifying charities reclaim tax on donations. Higher-rate taxpayers can claim additional relief separately, with declarations and tax-paid limits applying.

United Kingdom tapered annual allowance and salary sacrifice

The pension annual allowance taper uses separate threshold-income and adjusted-income tests. Relevant salary sacrifice reductions are added back when threshold income is measured.

United Kingdom Carer's Allowance 2026–27

Carer's Allowance has a weekly payment and a separate earnings limit. Caring time, the cared-for person's benefits and residence conditions also affect eligibility.

United Kingdom Attendance Allowance 2026–27

Attendance Allowance has two weekly rates linked to care or supervision needs. The payment helps with personal support and is separate from mobility needs.

United Kingdom Statutory Maternity Pay / Statutory Sick Pay

Statutory Maternity Pay and Statutory Sick Pay have different weekly-rate rules and payment periods. The published 2026–27 rates also have different start dates.

United Kingdom Statutory Paternity Pay and Statutory Shared Parental Pay

Statutory Paternity Pay and Statutory Shared Parental Pay are separate statutory payments with different leave periods and eligibility conditions.

United Kingdom Maternity Allowance 2026-27

Maternity Allowance is a benefit for people who cannot get Statutory Maternity Pay. The maximum weekly rate is the same as SMP, and self-employed applicants may receive a lower rate depending on their National Insurance record.

United Kingdom Bereavement Support Payment

Bereavement Support Payment has higher and lower rates and a strict time limit for claiming. The one-off payment and monthly instalments usually cannot be paid if a claim is made more than 21 months after the death.

United Kingdom Cold Weather Payment

A Cold Weather Payment is triggered when the average temperature in an area reaches zero degrees celsius or below for 7 consecutive days. The payment is £25 per period, and the winter runs from November 2026 to March 2027.

United Kingdom Junior ISA 2026-27

A Junior ISA is a tax-free savings account for children under 18. The annual subscription limit is £9,000 for the 2026-27 tax year, and the account converts to an adult ISA when the child turns 18.

United Kingdom Rent a Room Scheme

The Rent a Room Scheme covers furnished accommodation let in the landlord’s own home. Shared rental income reduces the threshold, while tax-return choices determine how income is reported.

United Kingdom Employment Allowance 2026–27

Employment Allowance reduces eligible employers’ National Insurance liability. Eligibility and payroll restrictions apply separately from the annual maximum.

United Kingdom Personal Independence Payment 2026–27

Personal Independence Payment has daily living and mobility components. Each has a standard and enhanced weekly rate, with awards based on difficulties with tasks.

United Kingdom Winter Fuel Payment 2026–27

Winter Fuel Payment amounts depend on birth date and living circumstances. The income threshold determines whether HMRC recovers the payment rather than the initial amount.

United Kingdom Blind Person’s Allowance 2026–27

Blind Person’s Allowance adds to the yearly Personal Allowance. Eligibility varies by residence, and unused allowance can be transferred within qualifying couples.

United Kingdom National Living Wage and NMW April 2026

The National Living Wage applies to workers aged 21 and over. The National Minimum Wage sets lower rates for younger workers and apprentices. Both change each April.