TBA

Recently, the Department for Work and Pensions (DWP) issued a new statement announcing that, due to a historic state pension error, over 130,000 individuals have received a total of approximately £800 million in backdated state pension payments.

Under the new policy, the UK government has scrapped the remittance basis for non-domiciled individuals—previously allowing up to 15 years without paying UK tax on foreign income. It has now been replaced by a new residence-based system for foreign income and gains (Foreign Income and Gains, or FIG). The sweeping reforms targets 34 different benefits, from disability allowances to chronic illness support.

The UK economy shrank by 0.3% in April, with further tax hikes and spending cuts likely; council tax is expected to increase by 5% annually; the UK unemployment rate has risen to its highest level in four years.