Business

His Majesty's Revenue and Customs (HMRC) has issued a message to anyone selling unwanted Christmas presents online. If you make an income selling goods through online marketplaces such as eBay and Vinted, or on social media via platforms like Facebook Marketplace, then in some cases you may have to pay tax.But of course, this depends on whether this money is your main source of income or an additional source, like a 'side hustle'. Anyone gaining extra income outside of their regular job must register for Self Assessment and file a tax return if their earnings are more than £1,000. Everyone in the UK has a tax-free trading allowance of £1,000, in addition to their primary employment, but if you go above this threshold, you must inform HMRC.But if you are simply selling on some unwanted p...

HM Revenue and Customs (HMRC) is urging working parents earning less than £100,000 per year to “unlock" a cash boost worth up to £2,000 annually.Working parents can apply for the Government’s Tax-Free Childcare scheme to help cover childcare costs, such as nurseries, childminders, nannies, and after-school clubs. Through the scheme, HMRC will provide parents up to £500 every three months for each child under the age of 11, amounting to a maximum of £2,000 per year. This amount goes up to £1,000 every three months if a child is disabled, giving parents up to £4,000 per year towards approved childcare.Parents with disabled children can use the cash to pay for extra hours of childcare, as well as childcare providers, so they can get specialist equipment that may be needed, such as mobility...

Nationwide is giving a free cash boost of £175 to customers who switch to an eligible bank account. The cash comes as part of the bank’s latest switching offer which rewards customers who switch to a FlexDirect current account using the Current Account Switch Service. The account gives you 5% interest for the first 12 months up to £1,500, with those who keep that amount in their account the whole time able to earn up to £75 over a year.Customers can also earn 1% monthly cashback (up to £5 a month) when spending on your debit card, giving you up to £60 cashback for 12 months. Those who are eligible for an arranged overdraft can also get the first £50 interest-free, and the account is fee-free, meaning you won’t be charged a monthly fee for maintaining it. As an added bonus, customers who...

Keir Starmer and Rachel Reeves had a dreadful 2025. They’re now the most hated Prime Minister and Chancellor in polling history. Even the Financial Times, which naively endorsed Labour in the 2024 election, admits “there’s a real dislike, even loathing” for them. If that’s what its backers think, imagine the fury felt by those who saw the disaster coming, as most Daily Express readers did.Even they won’t have imagined just how terrible Labour would be. Starmer and Reeves lied their way into power and wreaked havoc with the economy, crushing jobs and growth, and driving up inflation, while chucking hard-working taxpayers’ money at public sector workers and benefit claimants.Starmer and Reeves think they can tax, borrow and spend their way to growth, when all that does is dig a deeper hol...

Customers switching to high street bank Santander are being offered as much as £200 to ditch and switch their current account. Right now, there are three major banks offering cash incentives to lure customers to chop and change their bank.Bank customers are notoriously stubborn, with many sticking with their bank for decades out of pure inertia despite not necessarily having access to the best rates or bonuses. But right now, First Direct, Nationwide and Santander are offering hard cash to get customers to switch their current bank, with many also offering high-interest linked savings accounts and cashback on top too.Santander is offering £200 cash up front to switch, the best offer on the market right now. It also pays 1% cashback on household bills, up to a maximum of £10 a month, and...

Martin Lewis, the well-known money-saving guru, has given a warning to savers regarding possible tax hits on their money. In a recent post on X, Lewis emphasised that people earning between £12,500 and £50,000 per year could exceed the personal savings allowance limit if they hold significant savings.The finance expert was explaining how to lawfully and legitimately reduce tax on savings through government-approved schemes. He made clear that tax is not charged on the savings deposits themselves, but rather on the interest generated from them.And the issue is becoming more acute after Chancellor Rachel Reeves froze income tax thresholds for another three years in last November's budget. It means that For the 2025/2026 tax year, the standard Personal Allowance,the amount of income you ca...

Britons are being encouraged to take part in a money saving challenge in 2026 that can result in nearly £3,400 after starting with just 5p. ‘The 5p money saving challenge’, as its name suggests, sees those taking part increase the amount they save every day by 5p.The first day will see 5p saved away, followed the next day by 10p and then 15p and so on. “If you continue this for a whole year, by the end you will have saved almost £3,400,” said Yorkshire Building Society. It added: “You can also try this the other way round.“Start by saving £18.25 on the first day, then work your way down until you hit 5p on the last day.”The unusual money-saving method is just one of a number of challenges it suggests to help get people started with saving their cash.Another novel way to save is ‘the 1p ...

As the New Year kicks off, many UK workers could be at risk of incurring a fine of £300 or more. HM Revenue and Customs (HMRC) may start issuing these fines before employees have even had a chance to fully embrace the New Year.The government body has previously cautioned that anyone required to complete a Self Assessment must pay their due tax by no later than 11.59pm on 31 January 2026. This deadline strictly pertains to individuals who need to submit an online tax return, as opposed to a paper one which should have been filed by 31 October last year.If you haven't already submitted your paper returns when required, you will already be subject to late filing penalties. Remember, you must send a Self Assessment tax return if you were categorised as a self-employed 'sole trader' who earn...

Morrisons, the supermarket giant with 497 stores nationwide, has announced a significant change for UK shoppers: the phasing out of printed shelf labels. The retailer plans to replace these with electronic shelf labels (ESLs), marking an end to an era.The move, set to begin in early 2026, will make Morrisons the first major UK supermarket chain to implement this technology across all its stores.This cutting-edge technology allows staff to update product prices remotely via a computer, doing away with the need for traditional paper price tags and their constant replacement due to price changes.VusionGroup is tasked with installing 10.8 million smart ESLs in Morrisons supermarkets. These digital labels will replace the old paper ones throughout the store, providing accurate, real-time pri...

JD Wetherspoon has announced a price change across more than 600 of its UK pubs in January.The popular pub chain is holding a January sale from Friday, January 2 until Thursday, January 15, inclusive (from Saturday, January 3, in Scottish pubs), allowing customers to purchase a pint for as little as 99p. To ring in the New Year, Wetherspoon customers will be able to enjoy an array of alcoholic and non-alcoholic drinks for bargain prices, helping to save some pennies after the expensive Christmas period. Among the drinks featured in the sale is a pint of Worthington's beer for just 99p each, so customers can spend a mere £1 and still have a bit of change left over.A 250ml glass of Chardonnay, pinot grigio, rose or merlot for £2.99 each, Johnnie Walker Black Label (25ml including a mixer)...