HMRC takes £56m from Lifetime ISA savers since 2018
HMRC has collected over £56 million in Lifetime ISA withdrawal penalties since 2018, with 129,000 unauthorised withdrawals in 2024-25, prompting calls for reform.
Category : Finance
Liverpool's new powerbrokers after £1.4bn investment
FSG sells 30% stake in Liverpool for £1.4bn, valuing club at £4.57bn. Amit Bhatia becomes vice-chairman, with Jeff Bezos and Eduardo Saverin represented on the board.
Bhatia backs FSG as Liverpool £1.4bn investment agreed
Prospective Liverpool vice-chairman Amit Bhatia has backed FSG's leadership after his consortium agreed a £1.4bn deal to buy a 30% stake in the club.
Musk's Tesla Pay Package Rejected by Court Again
A Delaware judge again rejected Elon Musk's record $56bn Tesla pay package, despite shareholder approval, citing unfair process.
£200 inheritance mistake that could tear families apart
Financial experts warn that a £200 inheritance mistake over sentimental possessions could tear families apart, urging Brits to record promised gifts in writing.
Pension warning for under-65s taking taxable cash
644,000 under-65s took taxable pension cash in 2025/26, triggering a £10,000 savings limit. Withdrawals can also increase Income Tax.
FSG's £450m spend may have accelerated Liverpool stake sale
Former Liverpool director Christian Purslow says FSG's willingness to sell a significant stake may have been accelerated by last summer's £450m transfer outlay, with a Bhatia-led consortium close to a 30% deal.
Energy firms post billions in profits as households brace for new Ofgem price cap
Major energy companies have reported billions in profits during 2026 as households prepare for the next Ofgem price cap announcement on August 26, with campaigners warning of another rise in bills.
Aviva earnings jump by 24% amid Direct Line turnaround
Aviva's half-year operating profits surged 24% to £1.33bn, boosted by rapid progress on Direct Line's turnaround since the £3.7bn acquisition.
Set For Life results: Winning numbers for August 13
One lucky player could win £10,000 every month for 30 years in tonight's Set for Life draw. The top prize totals £3.6m. Tickets cost £1.50.
Telstra CEO gets $700k pay rise despite bonus cut
Telstra paid CEO Vicki Brady $6.8m for the year to June, after docking 20% of her bonus over the July outage, but she still received a $700,000 pay rise.
Why Wealth Taxes Fail: Global Lessons
Only one country has made a wealth tax work. Global evidence shows they fail, but Switzerland proves exceptions exist.
Pension change could cut take-home pay by 4%
New research suggests increasing minimum pension contributions could reduce take-home pay by up to 4% for the lowest-earning third of Brits, as IFS examines potential rule changes.
HMRC tax alert issued to 2 million pensioners
More than two million pensioners could pay tax on savings interest by 2026-27, HMRC figures show, a fourfold rise from 2022-23 as thresholds stay frozen.
Grandparents urged to rethink money gifts ahead of Inheritance Tax change
New research finds 67% of parents and grandparents are more likely to fund education costs during their lifetime due to upcoming Inheritance Tax changes, with many grandparents now covering university costs.
Over-70s car insurance rises by £23, data shows
Car insurance costs rise by £23 for drivers when they turn 70, paying £482 a year on average, according to Confused.com analysis.
Entain beats expectations after World Cup boost
Ladbrokes owner Entain reported stronger-than-expected sales and earnings for the six months to June 30, boosted by the World Cup, with net gaming revenues up 5%.
DWP State Pension inheritance rules after spouse dies (12.08.2026)
When a spouse or civil partner dies, their State Pension claim doesn't automatically end. You must inform the Pension Service, and you may inherit extra payments depending on National Insurance record and dates.
Solar eclipse triggers UK power shortage alert for tonight
The UK's electricity system operator has issued a plea for more power during this evening's solar eclipse, warning of a shortage of spare capacity between 6pm and 10pm.
Evoke reveals £46m tax hit ahead of £243m takeover
William Hill owner Evoke reported a £46 million earnings hit from higher gambling taxes and a 10% slump in underlying earnings, ahead of its £243 million takeover by Bally's.
43 areas to get £2,500 off electricity bills under pylon scheme
Households in 43 UK locations near new or upgraded pylons will get £2,500 off electricity bills over 10 years, with payments starting next year.
EuroMillions and Thunderball numbers for Tuesday £14m jackpot
The winning numbers for the EuroMillions and Thunderball draws on Tuesday, August 11, have been revealed, with the EuroMillions jackpot at £14 million and Thunderball top prize at £500,000.
Mum's £12m Lotto win after ticket binned by shopkeeper
Kath Main, 46, will receive £12 million after her winning Lotto ticket was thrown away by a shopkeeper, following a four-week investigation by operator Allwyn.
EuroMillions £14m jackpot: Winning numbers for August 11
A £14million EuroMillions jackpot is up for grabs tonight. The draw takes place at 8pm, with tickets on sale until 7.30pm. Thunderball offers £500,000.
Healey 'lining up £25bn Budget tax blitz' - it's Reeves all over again
Economists warn John Healey is preparing a £25bn tax rise in the October Budget, on top of Reeves' £26bn and £40bn hikes, pushing the burden to a record 39% of GDP.
Pension bosses urge Burnham not to touch tax-free lump sum
Pension industry leaders urge Andy Burnham not to cut the 25% tax-free lump sum, citing fears of early withdrawals and regret among savers.
Kath Main to get £12m Lotto prize if no other claim
Kath Main has reportedly been told she will receive the £12m jackpot after her ticket was binned, but only if no one else claims it by December 3.
Two million over-65s face tax on savings interest
More than 2.1 million people aged 65 and over are forecast to pay tax on savings interest in 2026/27, up from 517,000 in 2022/23, according to Paragon Bank analysis.
Pension 'lifestyling' could cost workers £163,000
A typical middle earner could end up with £163,000 less in their pension pot due to 'lifestyling', warns Murphy Wealth. The strategy shifts savings from shares to bonds and cash before retirement, potentially sacrificing growth.
Bezos' £208bn empire and mansions as Liverpool bid looms
Jeff Bezos, part of a consortium bidding for Liverpool, owns a $500m property empire including a $165m Beverly Hills mansion and a $78m Hawaii estate.
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