Benefits

A controversial contractor hired by HM Revenue & Customs to cut tax credit fraud won't have its contract extended beyond May 2017 after massive criticism of its performance and claims hundreds have had their tax credits wrongly stopped.

A major study by the new Money and Mental Health Policy Institute has found more than 70% of those with mental health problems believe their condition has hit their finances – and almost 60% have taken on additional borrowing as a result.

Up to 200,000 people are putting their state pension in jeopardy by not claiming carer's credit – a benefit that plugs gaps in your national insurance record when you're not able to work because you're caring for someone.

More than a million people in England, Scotland and Wales who are eligible for – but don't currently claim – working or child tax credits should apply now or risk losing out under the incoming universal credit benefit system.

The Consumer Prices Index (CPI) rate of inflation fell to -0.1% in the year to September, the Office of National Statistics (ONS) has today announced. But this means the basic state pension will rise by at least 2.5% next April.

People in England and Wales with low levels of debt will now be able to avoid bankruptcy, which can have a serious impact on future finances, as the Government has increased the minimum level of debt that can force people into this last resort option to £5,000 from £750.

HM Revenue and Customs is setting £45 million aside to improve customer service after figures show that 7.2 million phone calls made to it in the last year went through to a 'busy' tone instead of the caller being able to speak to someone.