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UK tax receipts rise £19.1bn


By Goran Nastic

HMRC collected £322.7bn in tax and National Insurance receipts between April and July, up £19.1bn on the same period last year, partly driven by the revenue impact of frozen tax thresholds.

PAYE income tax and national insurance contributions for April to July came in at £173.2bn, which is £12.5bn more than the same period last year, figures published today by HMRC revealed


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IHT receipts jump £100m year-on-year in July

Inheritance tax (IHT) receipts increased by £100m year-on-year in July, totalling £3.2bn between April and July, HMRC has revealed

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One in five UK adults has no financial safety net

Financial anxiety is rising steeply across the UK, with one in five adults having no financial safety net and growing concern over investment, pension, mortgage and borrowing decisions, new research from Handelsbanken Wealth has warned.

A third of UK adults (33%) now feel apprehensive about making investment decisions themselves, up from 26% last year, while concern around pensions has also risen from 19% to 26%

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Homeowners face multi-year wait to recover moving costs

Homeowners in England could need around two and a half years of house-price growth to recover the full cost of buying and selling a property, a new study has suggested

Majority of prospective FTBs wrongly believe debt rules out a mortgage

More than half of prospective first-time buyers (FTBs) believe existing debt would automatically prevent them from getting a mortgage, on top of widespread misconceptions about eligibility, according to new research from Lloyds

Pure Retirement

CPI inflation increases to 2.9% in July

Consumer price index (CPI) inflation rose to 2.9% in the 12 months to July, after falling to 2.6% in June, the Office for National Statistics (ONS) has revealed.

The jump in inflation was attributed to the increase in the Ofgem energy price cap, which rose in part because of higher wholesale energy prices following the conflict in the Middle East
Proportion of landlords experiencing arrears hits record low

The proportion of landlords experiencing rent arrears has fallen to a record low, with the majority of landlords continuing to report profitable lettings businesses, Paragon Bank has revealed

Pure Retirement

UK house price growth slows to 2% but rents accelerate

Average UK house prices increased by 2% to £272,000 in the 12 months to June 2026, down from 3% in May and the second consecutive month the annual rate slowed, according to the Office for National Statistics (ONS)

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IHT receipts jump £100m year-on-year in July

Inheritance tax (IHT) receipts increased by £100m year-on-year in July, totalling £3.2bn between April and July, HMRC has revealed

UK tax receipts rise £19.1bn

HMRC collected £322.7bn in tax and National Insurance receipts between April and July, up £19.1bn on the same period last year, partly driven by the revenue impact of frozen tax thresholds. PAYE income tax and national insurance contributions for April to July came in at £173.2bn, which is £12.5bn more than the same period last year, figures published today by HMRC revealed

IHT reclaims for property losses double in 2025/26

The number of families reclaiming overpaid inheritance tax (IHT) because of losses on property sales doubled last year as the housing market slowed, NFU Mutual has found

Over two million savers aged 65+ face savings income tax

More than two million people aged 65 and over are set to pay tax on their savings income in the 2026/27 financial year, Paragon Bank has found

FCA secures majority of victims’ money back from convicted fraudster

Victims of convicted fraudster, John Burford, are set to recover most of the money they invested after the FCA obtained a confiscation order against him

FCA decides to ban father and son following fraud and misuse of client money

The FCA has decided to ban a father and son from UK financial services after the High Court found that they had engaged in fraud and misused client money

Industry reacts to Andy Burnham’s new cabinet

Andy Burnham was appointed as Prime Minister yesterday, ushering in a new cabinet and potential changes to financial policy. Burnham, who replaces Keir Starmer as PM and Labour leader, has put forward his intentions to publish a 10-year plan, and has already announced plans to cut VAT on residential energy bills from 5% to zero from October

FCA cracks down on illegal promotions in first year of new strategy

The Financial Conduct Authority (FCA) has led an international crackdown in illegal finfluencer promotions in the first year of its five-year strategy

One in five UK adults has no financial safety net

Financial anxiety is rising steeply across the UK, with one in five adults having no financial safety net and growing concern over investment, pension, mortgage and borrowing decisions, new research from Handelsbanken Wealth has warned. A third of UK adults (33%) now feel apprehensive about making investment decisions themselves, up from 26% last year, while concern around pensions has also risen from 19% to 26%

ISA changes could result in £3.6k loss in interest

Replacing monthly payments on a first-time buyer (FTB) ISA with a single pay out could see savers lose out on around £3,606 when purchasing their first home, Moneybox has revealed

Savings accounts triggering tax liability soar 1,047%

The number of UK savings accounts earning enough interest to potentially trigger a tax bill has risen by 1,047% since 2018, an 11-fold increase as higher interest rates and frozen tax thresholds pull millions more savers into the tax net, according to analysis of CACI data by Yorkshire Building Society

Younger savers prioritise financial goals over emergency funds

Younger adults are increasingly abandoning the traditional idea of saving for a "rainy day" in favour of putting money aside for specific financial goals, new research from LHV Bank has found

Altro Pension Scheme secures £85m BPA deal with M&G

The Altro Pension Scheme has completed an £85m bulk purchase annuity (BPA) transaction with M&G, securing the benefits of 740 scheme members and their dependants

Royal Horticultural Society pension scheme secures £22m buy-in with Royal London

The Royal Horticultural Society (RHS) 1974 Pension Scheme has completed a £22m buy-in with Royal London

Two thirds of Brits expect to rely on state pension in retirement

Two thirds (66%) of people in the UK admit they will rely on the state pension "to some extent" in retirement, Hargreaves Lansdown (HL) has revealed

Three in 10 people trust AI with pension support

Almost a third (30%) of people trust artificial intelligence (AI) to help with their pension, Scottish Widows has revealed

63% of consumers fear Burnham policies could leave households worse off

Nearly two-thirds of UK consumers fear the Government’s recently announced policies could ultimately leave their households worse off, while confidence that the plans can be delivered without higher personal taxes remains low, a new study has revealed

Half of IFA firms earn 2% or less on cash reserves

More than half (56%) of UK independent financial advice (IFA) and wealth management firms earned 2% or less on their cash reserves in the last 12 months, Flagstone has revealed

CPI inflation increases to 2.9% in July

Consumer price index (CPI) inflation rose to 2.9% in the 12 months to July, after falling to 2.6% in June, the Office for National Statistics (ONS) has revealed. The jump in inflation was attributed to the increase in the Ofgem energy price cap, which rose in part because of higher wholesale energy prices following the conflict in the Middle East

Millions of UK workers remain financially vulnerable to income shocks

Millions of working households remain vulnerable to financial shocks despite signs of recovery from the cost-of-living crisis, with more than a third of employees classed as 'economically exposed', Royal London has warned

Financial services businesses risk ‘AI invisibility’ by ignoring reviews

The financial services sector is facing a "critical strategy-action gap" that puts many firms at risk of losing market share because they are becoming invisible in the AI answers consumers are using to make decisions, TrustPilot has stated

Bridging lenders told to embrace electronic signatures

Loans Warehouse has called on bridging lenders to embrace using electronic signatures, following a decade of investment in better technology, streamlined underwriting and faster decision-making

AI use among financial advisers rises by 31 percentage points in a year

The proportion of UK financial advisers using artificial intelligence (AI) has increased by 31 percentage points over the past year, analysis from Intelliflo has revealed

Over half of adults would use AI for money decisions but not for final call

Over half (55%) of adults receiving financial advice will accept AI playing a role in the process, but only if a human makes the final decision, deVere Group has found

News in brief - 21 August 2026

Today's round up of developments coming out of the consumer finance space, featuring more2life, Foundation, Access Financial Services and FRP Advisory

News in brief - 20 August 2026

Today's round up of developments coming out of the consumer finance space, featuring Foundation, JammJar, Tandem, Finova and Roma Finance

Monmouthshire BS added to TMA’s lender panel

TMA Club has added Monmouthshire Building Society to its lender panel, following its return to the broker market

News in brief - 19 August 2026

Today's round up of developments coming out of the consumer finance space, featuring StreamBank, Castle Trust Bank, Hanley Economic Building Society, Black & White Bridging and Fleet Mortgages

BLOG: Royal London Equity Release: How high-net-worth individuals could benefit from releasing equity with the exclusive Premier product offering

In February 2026, we were recognised at the MoneyAge Mortgage Awards, taking home the title of ‘Later Life Lender of the Year’, with judges highlighting our rapid distribution growth, extensive adviser engagement and meaningful product enhancements. As an equity release provider, our approach is rooted in a holistic view of retirement, aiming to provide good customer outcomes with backing from the UK’s largest mutual life, pensions and investment company* – but what can we offer you and your clients?

BLOG: Are added-value services the key to engaging clients in protection?

Scottish Widows Protection Director, Rose St Louis, discusses how reframing protection conversations can help to engage clients

BLOG: Award-winning lending, built brick by brick

Saffron for Intermediaries discusses its latest lending offering on the MoneyAge blog

BLOG: Doing Good is Good Business

MoneyAge Awards winner Bespoke Advice discusses the key fundamentals of good financial planning in our latest blog piece

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Later Life Lending: It’s more than just equity release or retirement interest only (RIO)

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