If you failed to file…

HMRC says that 11.48 million people filed their 2024/25 tax return by the 31 January 2026 deadline. However, that means an estimated one million missed the cut off. If you didn’t make it, do not delay further. You already face a £100 fine, even if you have no tax to pay, and penalties of £10 per day loom if you file more than three months’ late. Interest on any overdue tax is at bank rate + 4%.

NS&I cuts some variable rates

NS&I has cut the rates on both its Direct Saver accounts and Income Bonds for the first time since March 2025. The new rate for both, effective from 12 February 2026, is 3.05% AER. There are plenty of instant access accounts offering higher rates, but it pays to read the terms and conditions. Top-paying accounts often have short-term bonuses or allow only a limited number of withdrawals per year.

Rental demand drops

Buy-to-let investors have had a hard time of late, with tax burdens rising and, in England, the removal of ‘no fault’ evictions from 1 May 2026. Rental demand has also been falling, with one major property portal reporting that in January 2026 average enquiries were down a fifth on January 2025 and at their lowest level since 2019. Slow price growth and falling interest rates are turning would-be renters into first-time buyers.