6.4% energy rise: FIX NOW, married tax break, cheapest loan in years, 25% off railcards, Pizza Express 50% off, 50GB Sim £3/mth

Plus... new 33mth 0% debt shift, free Costa iced latte, 264Mb Virgin '£20/mth' ends, £135 specs £37

                                                           

25 February 2025 | View in browser

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THE TOP TIPS IN THIS EMAIL Confirmed: Energy Price Cap UP 6.4%... - URGENT: Cheapest fix likely to end - NEWS: 2.7m more to get £150 help - NEWS: No-standing-charge tariff? New. Cheapest loans since Sept 2022 Married? Martin's urgent heads-up! You could lose £250 tax break Last chance. 25% off pre-hiked railcards Coupon freebies - including Costa latte Stop press. New 33mth 0% debt shift 'I saved £30/yr opting out of Microsoft auto add-on' Pizza Express 50% off dine-in Ends. 264Mb Virgin broadband '£20/mth' £135 Ted Baker specs £37 8pm tonight (Tue): The Martin Lewis Money Show Live MSE's 22! See old '0% for life' deal... 30+ birthday FREEBIES New. Cheapest 50GB Sim '£3/mth' Three & Virgin to hike bills by up to 7.5% Mortgage prisoners: 'Our hearts sank' World Book Day: Free kids' books FREE National Outdoor Expo tickets This week's best buys: 5.25% savings, free £175 bank switch & more Money Moral Dilemma: Should I ask my friend to pay customs duty on their gift? BEST BUYS & TOOLS MSE Cheap Mobile Finder Credit Club including free credit report 0% balance transfers Compare broadband deals MSE Compare+ Car Insurance Best bank accounts Top savings accounts Credit cards for bad credit Credit Card Eligibility Calculator Loans Eligibility Calculator Mortgage comparison Compare travel money Cheap Energy Club Best Sim-only deals

Martin: 'Not fixed yet? Do it now, save £100s' Confirmed: Energy Price Cap to rise for third time in a row, UP another 6.4% on 1 April - URGENT: Cheapest fix likely to end within 72hrs  - NEWS: 2.7m more people to get £150 Warm Home Discount - NEWS: No-standing-charge Price Cap option proposed Sadly, no surprise, Ofgem today announced what we've long warned you about. The consumer Energy Price Cap, which moves every three months, will rise an average 6.4% from 1 April, following the 1% rise in Jan, and 10% rise last October. So for the two-thirds of homes still on the Cap... For every £100 you currently spend on energy, you'll typically spend £106.40 from April. The Price Cap is a pants cap - if you're on it, try to get off it! The simple answer is FIX NOW to lock in a price cheaper than the current Cap, which means it'll be far cheaper than the Cap once it rises in April. Alongside the Cap's rise, there's news too on both a future no standing charge Price Cap and 2.7m more people to get £150 Warm Home Discount. So I want to take you through it all in detail (thanks to the MSE team who'll add updates on this fast-moving subject for me once I head off to ITV for my live show, to keep it correct at the time of sending). Spread word, Martin vs Ofgem ITV 8pm tonight (Tue) Tonight's Martin Lewis Money Show Live is, no shock, on energy. Martin will take your questions on how to beat the rise. Plus... he's joined by Ofgem's boss, who's agreed to take his & your questions too. 1. Are you on the Price Cap? Unsure... you likely are. If you live in Eng, Scot or Wales (see N. Ireland help), unless you're on a fix or special tariff, you're almost certainly one of the two-thirds of homes on a Price Capped tariff. The Cap applies to all firms' standard consumer tariffs - the default one you're on if you've never changed, or not switched since your fix ended. And while it's called a Cap, in reality almost all firms price to the max. Here are some common ones... On one of these tariffs? If so, you're on the Price Cap British Gas Standard Variable | EDF Standard (Variable) | E.on Next Next Flex | Octopus Flexible Octopus | Ovo Simpler Energy | Scottish Power Standard 2. Exactly what is the new Price Cap? (Our new 'April calc' shows what you'll pay). There's no total cap on what you pay, the Cap limits the daily standing charge and unit rates firms can charge, so use more and you pay more. As for why it's gone up, well Ofgem says: "A recent spike in wholesale prices is the main driver of today's price rise, accounting for around 78% of the total increase. A small increase in policy costs and associated inflationary pressures make up a further 22%." Below, I've put the new average Direct Debit rates, but the Cap varies by region and payment method, so use our new 'What will I pay from April?' calc to work out your new energy costs. New average Direct Debit Price Cap from 1 April  Electricity Gas Unit rate (cost per unit of energy) 1 Apr: 27.03p/kWh  (UP 9%) Currently: 24.86p/kWh 1 Apr: 6.99p/kWh (UP 10%) Currently: 6.34p/kWh Daily standing charge 1 Apr: 53.80p/day  (DOWN 12%) Currently: 60.97p/day 1 Apr: 32.67p/day (UP 3%) Currently: 31.65p/day Prepay customer rates are typically 2% less than Direct Debit. Payment in receipt of bills rates are typically 6% more. The huge bulk of the rise is on the unit rates - the amount you pay for each unit of energy. The elec standing charge is actually dropping. That means lower users will see a small rise - someone paying £100/mth dual-fuel would typically see a 5% rise - yet higher users will see a bigger rise - someone on £300/mth would typically see it up about 9%. Though that's based on the UK average, and this Price Cap has seen huge regional variation in prices, with London and North Wales outliers, as their electricity standing charges are rising. See the region-by-region caps. Overall, to give you a scale, for a home on Ofgem's 'typical use' (a nonsense measure), the new annualised rate is £1,849/yr - that's £111 higher than the current £1,738/yr. Though this rate changes again in July. 3. DON'T expect prices to fall back this year. The Price Cap is calculated based mainly on average wholesale costs - those energy retailers pay - over the three-month assessment period (we're already a week into that for the July 2025 Cap). The further out you go, the more predictions turn into crystal ball gazing. Predictions do change, for example, they're better now than a couple of weeks ago (the potential for an end to war in Ukraine has helped), yet all current predictions from analysts I've seen show rates staying higher than they are right now for about a year. Global events could change that though. 4. LOCK IN at 6% LESS than today's Price Cap, saving immediately (it's 12% less than April's). A fixed tariff is where you lock in a rate for a set time, giving you the boon of certainty, but at the moment the best give direct savings too. As the cheapest fixes are lower than the current Cap, those on Capped tariffs can instantly reduce costs, and the relative savings will accelerate once the Cap rises in April. Your cheapest depends on your region and usage level Use our whole-of-market by default Cheap Energy Club comparison to find your winner Though remember the savings you'll see are against the current Cap - in reality, they'll be BIGGER after April. Below the MSE energy team have put together a table for me showing the latest top deals currently available. Then I've answered common fixing questions just after. Cheapest standalone energy fixes (1) (Eng, Scot, Wales) Links via Cheap Energy Club to give you a personal comparison E.on Next Fixed 15M V1, 15mth fix. New & existing customers. No smart meter needed. Dual fuel or elec only | Monthly Direct Debit only | Online account Save avg 6% compared with today's Price Cap (11.7% from April), including £20 MSE dual-fuel cashback (elec-only cashback: £10) for new customers only (no cashback for existing customers, as we can't switch you sadly). £50/fuel early exit fees  Outfox the Market Fix'd Dual Feb25 v.3.0, 12mth fix. New & existing customers. No smart meter needed. Dual fuel only | Monthly Direct Debit only Save avg 5.1% compared with today's Price Cap (10.8% from April).  £50 dual-fuel exit fee British Gas Fixed Tariff v32, 16mth fix. New & existing customers. No smart meter needed. Dual fuel or single fuel | Monthly Direct Debit or cash or cheque Save avg 4.4% compared with today's Price Cap (10.1% from April), including £20 MSE dual-fuel cashback (elec-only cashback: £10) for new customers only (no cashback for existing customers, as we can't switch you sadly). £50/fuel early exit fees Electricity-only tariff Fuse Energy Feb 2025 Fixed V2, 18mth fix. New & existing customers. No smart meter needed. Elec only | Monthly Variable Direct Debit only (ie, cost ISN'T spread across the year) | Online account management Save avg 13.7% compared with today's elec-only Price Cap (16.8% from April), including £10 bill credit from Fuse.  £50 early exit fees Smart prepay customers fix (only available direct) EDF Simply Fixed Direct Jun26, 18mth fix. New & existing customers. No smart meter needed (unless on prepay). Dual fuel and elec only Costs 0.6% more than today's prepay Price Cap (but 5.7% LESS from April). If you go direct, there are no early exit fees (so we've added a direct link), while there are if you go via comparison sites. PS: Arguably you'd be best waiting till the last minute to do this before April, but there's no guarantee it'll still be around then. PS: Comparison site uSwitch has a slightly cheaper exclusive deal with British Gas, which by definition is not in our Energy Club. On average, it isn't cheaper than E.on or Outfox above, but for completeness we wanted to mention it. (1) A standalone tariff is one where you're not made to pay for other products (eg, broadband or boiler cover) to get the price. Q. I'm on an old-school prepay meter. Can I fix? Sadly not. While some firms allow those on smart prepay meters to fix, frustratingly none allow those on old-school key or card meters to do so. Q. What if the predictions are wrong and things get much cheaper? That's always possible, say, due to a peace in Ukraine and the Middle East, or the US pumping more oil out. Remember, you're always free to leave a tariff, you just may need to pay the early exit penalties. These have decreased in recent times to between £25 to £50/fuel for a 1yr fix, so just a few percent of a typical annual bill (though a bigger relative hit for lower users), so if prices really dropped it'd be a reasonable option. Q. Can I just grab my existing provider's fix? Yes, but this is about getting a cheap fix, be careful not to lock in at a high price. Use the Energy Club comparison to show how your provider's fix compares to the cheapest - if it's not too far away, then go for it. Q. What is 'MSE cashback'? Some providers pay energy comparison sites to facilitate the switch (you still get the same price as going direct). Yet unlike other sites, we don't default to hiding tariffs that don't pay. Instead, we show them all, but when we get paid to switch you, we give you a chunk of it as cashback, so those that pay us are relatively cheaper for you, so likely more people switch to them. Win-win. Q. Is getting a longer fix than these worth it? Well, it gives you price certainty for longer, and means you needn't switch as frequently. Yet no price predictions go further than a year ahead, as the market is so volatile, so I'm blind to whether it's a good deal. Up to 18mths seems reasonable, longer than that and they tend to cost more and have bigger early exit penalties. So it's really only for those who really value certainty. 5. The specialist tariffs worth considering too... While fixing is simplest, there are some other deals worth considering. Though a few are tough to display via the traditional comparison site model (we're trying to work through how to do it for future, as this becomes more common), so let me walk you through the main ones... Lower users get £50 off standing charges tariffs. Both the EDF Simply Tracker tariff* and the British Gas Price Cap Guarantee tariff track the Price Cap for around a year, but with £50/yr lower standing charges (£25/fuel). So for those who have very low usage (under roughly £80/mth) where the standing charges make up a larger portion of the bill, this can be a decent saving. Neither require smart meters unless you're on prepay, and the early exit penalties are £25 per fuel EDF, £5 per fuel BG. Rapid change time-of-use tariffs: Octopus and Tomato. These are best for sophisticated users who get how energy markets work. With the Octopus Tracker tariff, rates change daily based on wholesale costs. It's been 31% cheaper than the Price Cap on average over the last year, but recently especially, it's had periods of being costlier (especially when wholesale rates are higher). The elec-only Octopus Agile tariff's rates change half-hourly, based on wholesale prices, so much so it can be free or even pay you to use energy in the middle of the night, but very costly at peak times. It's good for those who can nimbly shift their usage to take advantage of super-cheap times or who have battery storage. Tomato Energy's Smile tariff works in a similar way. The Octopus tariffs are only available for existing customers, though to get 'em, you could first try switching to the Flexible Octopus Price Cap tariff then, once in, switch to one of these. Got an EV? Consider a dedicated tariff. Several suppliers offer specific tariffs which let you get cheaper electricity overnight for charging your electric vehicle (EV). Full details of what's available in our EV tariffs guide, but in brief, there are two types: - 'Add-on' tariffs, where you can only charge your car on the cheaper rate. Ovo and Scottish Power offer these, so you can add EV charging to whichever of their tariffs you're currently on, and you'll get a cheap rate to charge your EV at any time. All other electrical use in your home will be charged at your existing tariff rates. So if you can get a decent fixed tariff from these firms, the fact you can charge your EV even cheaper is a boon. - Two-rate tariffs giving you cheaper elec overnight. Most EV tariffs offer five to seven off-peak hours a day (typically from midnight to 5am) and charge around 7p to 10p per kilowatt hour of elec use (the current Price Cap rate is 23p to 26p). The benefit here is if you've other appliances that you can use overnight, they'll cost less too. 6. Can you cut bills by cutting your use? Obviously, cutting use cuts bills, so we've some detailed guides that can help: - 70+ ways to save energy includes a mix of hardcore savings and some thrifty crowd-sourced tips. From cutting your boiler flowrate to tactical curtains, getting the right freezer temp and more. - Energy mythbusting covers less clear-cut issues, including the thorny question of 'better to keep heating on low all day or just when needed?' - Heat the human, not the home is for those who are really struggling (though thankfully the improving weather helps too). 7. What to do if you're struggling to pay. It's always worth talking to your energy firm. Be polite and straight with it, and make sure you explain if you're vulnerable. There can be hardship & debt grants from energy suppliers. For far more guidance, see our full What to do if you're struggling to pay energy bills guide. 8. Possible future 'no standing charge' Price Cap. Standing charges are by far the most complained-about part of an energy bill - the fact it costs in excess of £300 a year just to have the facility of gas and electricity, even if you don't use any. I've long lobbied for them to be substantially cut, but that's unlikely to happen without joint action between govt & the regulator (and there's no sign of that). Yet the regulator has just launched its final consultation on our (MSE's) compromise suggestion of a dual Price Cap. That means the current Cap would stay, but alongside it, firms would need to offer the option of a 'low or no standing charges' version (with higher unit rates) which would be better for lower users. Yet I believe it must opt-in the vulnerable customers it suits, or it won't work - so we'll be feeding into its proposal with that. Full info in low or no standing charge Price Cap news. 9. £150 Warm Home Discount to go to 2.7m more people. The Warm Home Discount scheme gives lower-income homes £150 of energy bill support. The Govt today announced a change to come in next winter (well, technically a consultation, but I spoke to Secretary of State for Energy Security and Net Zero Ed Miliband, and this seems pretty sure to happen), meaning 2.7m more people will get it. Currently, those on means-tested benefits such as Universal Credit (which helps both working people and the unemployed) or Employment and Support Allowance (ESA) only get the £150 if they have 'high energy costs'. That criteria is to be scrapped. Good. We've long campaigned on how poorly and unfairly this was implemented, let alone that it's a disincentive to improve your home's efficiency. For more on the changes as we learn about them, see our Warm Home Discount extended news story. Alongside that, the Govt's announced it supports Ofgem's proposed long-term customer debt support scheme, to write off old energy crisis debts for about 1m people who are never likely to pay it back, yet money is spent on chasing it. It suggests this will be cost-neutral, as it'll reduce the 'debt allowance' currently added to the Price Cap to compensate firms for bad debt. Sounds positive, especially if combined with better debt help, though the details of how the upfront costs will be met are still somewhat sketchy. 10. There's no Price Cap in Northern Ireland. You're on a different energy system with different firms to the above. It's worth taking five minutes to go through the Consumer Council for Northern Ireland's energy comparison, or our Cheap Northern Ireland electricity guide.

 

 

DON'T believe the fake 'Martin Lewis' or 'MSE' ads Lots of scam ads litter social media and even newspaper websites - some of these lie that we or Martin promote Bitcoin, binary trading etc. See Fake ads warning.

 

 

 

New. The cheapest personal loan rates since Sept 2022 A new lender has aggressively undercut rates at launch, likely to rapidly gain market share, but we doubt it'll be this fiercely competitive for long... Loan rates have crept down slowly over the last few months, as the UK base interest rate has been cut. But a new lender's just scythed chunks off 'em, offering the best-buy loan rate at every level, undercutting the next best by up to a huge 2.8 percentage points. And it means we've not seen smaller loans this cheap since Sept 2022. So if you need to borrow, it's worth a look. Plus if you've already got a loan, check whether you can switch existing loans to cut costs. ONLY borrow if it's NEEDED, budgeted for & affordable. Loans need careful thought. They're best for a deliberate, planned, budgeted, affordable, one-off expenditure with lasting gain (eg, doing some home improvements, not booking a holiday). Ask yourself whether you really need it - if unsure, DON'T do it. Always aim to borrow as little as possible and repay as quickly as you can, as that cuts the cost too. - Doing it to consolidate other debt, eg, credit card debt? See Martin's Is consolidation worth it? briefing. - Already struggling with debt? Ignore this - go straight to our Debt help guide. The UK's cheapest fixed-rate 'unsecured' (a good thing) personal loans. Before we get to the rates, let's introduce you to the new lender that's offering the lowest representative APRs: it's called People's Choice and it's the loans arm of insurer Hastings Direct. Far more help and info in our cheap loans guide, but a couple of thoughts on this new lender first... - We question whether its rates will be this low for long. We guess it's a launch marketing strategy to build its name. It may start to reduce the gap it has over other lenders in future weeks, depending on what business it attracts. Yet loans are fixed rate, so if you bag one at this rate, it'll stay at that rate.  - The acceptance criteria could be tight (but you can test it easily). We don't have any data, but think it may be credit-scoring tightly. So ensure you use our Loans Eligibility Calculator before applying, which'll show your acceptance odds for it and other top lenders, protecting your ability to get credit later. CHEAPEST LOAN APRs (click the link for the amount to go to eligibility for those loans) £1,000 to £2,999: People's Choice 7.1%, Zopa (via John Lewis) 9.9%, but 0% credit card loans may be cheaper £3,000 to £4,999: People's Choice 7.1%, Novuna 9.9% (9.7% on £4,000 to £4,999), Santander 9.9% £5,000 to £7,499: People's Choice 7% (6.5% on £7,000 to £7,499), Santander & Tesco 7.1% £7,500 to £25,000:People's Choice 5.8%, TSB 5.9%, Santander 6% Yet only 51% of accepted applicants need get the advertised rates. As all these rates are 'representative APR', the other 49% of applicants can be charged more (without limit). Unfortunately there's often no way to know what rate you'll get without applying, though some, eg, Santander, offer guaranteed rates pre-application via our eligibility calc. Can you cut the cost of EXISTING loans? With slightly lower rates, it's worth checking to see whether you could cut your loan's cost, especially if you had a poorer credit score then than you do now.  - First: Use our eligibility calc to see whether it's likely you'll be accepted for a loan at a lower APR than you've got. - Then: If that looks likely, don't apply yet, as there can be early repayment penalties and you don't want an unnecessary mark on your credit file. So next read our cut existing loan cost step-by-step help & calc to see. How lenders decide who to lend to and other loan need-to-knows. As with all lending, when you apply you'll be credit-scored to see whether you've been a good credit citizen. Each lender scores you differently based on its own wish list of what makes a profitable customer.  Plus, just as importantly, they do an affordability score (where the crucial factor is your income on your application form, so do include everything - but don't lie). That's because, with a loan, you're applying for a specific amount, so they're checking whether you can repay it. It's why the same lender may accept you at £3,000 but reject you at £10,000. MSE's free Credit Club (available via the MSE App on Apple and Android) can show you your credit and affordability score and help diagnose any issues - there's also a version of our eligibility calc in there too.

 

Last chance. Grab 25% off railcards before the price rises THIS SUN. Railcard prices rise on 2 March, from £30 to £35 for 1yr railcards, and from £70 to £80 for 3yrs. Yet TrainPal or Trip.com newbies can bag 25% off (existing users 10% off) current prices for Friends & Family, Two Together, Senior, or 16-30 cards, so 1yr £22.50 or 3yrs £52.50 via this railcard code. Feb coupon FREEBIES, including Costa iced latte (normally £2.50), M&S Mini Bites (£4), Lidl bakery item. To see all this month's freebies and discount coupons, go to 60+ Feb coupons. STOP PRESS. New longest 0% balance transfer deal, shift debt to 33mths interest-free. A balance transfer's where you get a new card that pays off old cards for you, so you owe it instead, but at 0% for a set period. The new longest is Barclaycard's 33mth 0% (3.45% fee), yet it's an 'up to' card, so if you're not pre-approved via our eligibility calc, one in five will get its 16mth 0% backup offer. Yet there's also a new longest definite 0% card, Tesco's 32mth 0% (3.19% fee), which gives ALL accepted the full time at 0%, plus has a lower fee - so it's a winner if you've decent acceptance odds. Golden rules: Repay at least the monthly minimum & clear the card before the 0% ends, or both jump to 24.9% rep APR interest. Full help in Top balance transfers. More detail / explanation next week. 'I saved £30/yr opting out of annoying automatic Microsoft 365 add-on - thanks.' Our success of the week comes from Mandy, who said: "Thank you so much for highlighting how to beat the Microsoft 365 price increase. I've just switched back to Classic and saved myself £30/yr. Your email not only saved me a little cash but got rid of the annoying AI. Thank you, thank you, thank you." If we've helped you save (on this, or owt else), send us your successes. Pizza Express 50% off dine-in pizza ANY day this week. See how to get 50% off. Ends Thu. 264Mb Virgin broadband '£20/mth'. MSE Blagged. This 264Mb Virgin broadband-only (no phone line) deal is available to switchers in 60% of homes. You pay £24.99/mth till Apr 2026, when it rises to £28.49/mth. However, it gives an automatic £100 bill credit, so factoring that in, it's equivalent to £20/mth over the 18mth contract. Want more options? Use our full broadband comparison. £37 Ted Baker prescription specs or sunnies (normally £135). MSE Blagged. Via SpeckyFourEyes code, £37 for the basic set-up - you can pay to upgrade lenses etc. Energy Price Rise Special: Ofgem boss takes your questions live. The Martin Lewis Money Show, ITV1, 8pm tonight (Tue). Martin: "A crucial programme on the day the 6.4% Price Cap rise has been announced. I'll take you through what to do and answer your practical questions. Plus the Ofgem CEO Jonathan Brearley joins me to take your questions live (I won't shy away from the tough ones). Got questions to suggest for me or him? Send them to the team at martinlewis@itv.com or by using #MartinLewis on X or Bluesky."

 

 

BLAGGED FOR MSE - 264Mb Virgin broadband '£20/mth' Ends Thursday - £37 Ted Baker prescription specs or sunnies Ends 16 March	DID YOU MISS? - Amazon Resale: 50%+ off on often as-new returned goods - Premium Bond prize rate to fall to 3.8% - are they worth it? - £186 of beauty for £50, including Clinique, Eve Lom etc - Sub-4% mortgages are back... should you fix now? - Phone thefts up 150% - 16 tips to secure your phone & data

 

 

Married or in a civil partnership? Martin's urgent heads-up! Don't delay: Check if you're one of 2m couples missing out on a £1,260 tax break & go quick or you lose £250 of it A couple of weeks ago, I did my TV show on the 9 hidden financial benefits of marriage - the first was about the lucrative Marriage Tax Allowance, which 1.95 million eligible couples are missing out on. Yet a few hours before we went live, my teeth gnashed, as I was told the Govt's application website had been taken down for urgent repairs. Now it's back, but only partially, meaning effectively a deadline's been brought forward... FOUR key checks to see whether you're eligible for the Marriage Tax Allowance:  1. You must be married or in a civil partnership. Just living together, even if you've kids, doesn't count. 2. Both of you must've been born AFTER 5 April 1935. If you're older, there's the Married Couple's Allowance instead. 3. One of you must be a non-Income-Tax-payer. Eg, usually earning under £12,570/yr. (People always ask me, "Does it count if... I volunteer? Or work part-time?" etc. Yet this is simply a case of if you don't earn above your Personal Allowance, so don't pay Income Tax in a tax year, you're a non-Income-Tax-payer regardless.) 4. The other must be a basic 20% rate Income-Tax-payer. Eg, usually earning £12,570 to £50,270/yr (£43,662/yr in Scot). Higher 40% rate taxpayers can't do this (though if you're only just above that threshold, increasing pension contributions or similar, to reduce your salary, could make you eligible). How the Marriage Tax Allowance works. The standard Personal Tax Allowance is £12,570/yr, which means most people can earn up to that and pay no Income Tax. With the Marriage Tax Allowance, the non-taxpayer can apply to move 10% of this (it must be all 10% - you can't just move part of it) to their taxpaying spouse. So then the taxpayer has an extra £1,260/yr they can earn tax-free, which they would've paid 20% tax on (saving £252 in tax). Watch my marriage tax video briefing to help understand it (though it was recorded before applications reopened). Even bigger gain comes from backdating, and that's why speed matters. If you were eligible then, you can backdate this up to four tax years (so currently back to the 2020/21 tax year), worth around £250/yr. The current year's gain is paid by altering your tax code (and future years are done automatically); past years are paid by Bacs or cheque. We get huge numbers of people receiving these, such as Jane, who emailed us: "Thank you for letting us know about Marriage Tax Allowance. A cheque for £1,006 arrived today. Garden centre here we come!" So why the urgency? Well, you need to apply by the end of this tax year, 5 April, to be able to backdate to 2020/21. Leave it too late and you'll miss that £250, and the whole application system is now slower than it was... The application process has changed. It used to be that applying and backdating a claim was quick and easy to do online, but an ongoing technical fault means that's changed (for now?)... - Just applying for this tax year (2024/25)? You can now apply again using the HM Revenue & Customs online tool.  - Applying for this AND prior tax years? For backdating, you can now only apply by post. So I'd say it's simpler to just do the current year on the same form too (though you can do the current year online and rest by post if you want). - Just applying to backdate? You can do this if you were eligible but aren't now, but again can only apply by post. Many are effectively being forced to use the postal system, and we've no idea how long it takes, though HM Revenue & Customs (HMRC) says as long as it's received your application by 5 April, it'll count it as applying within this tax year (for full backdating). So I'd get on with it. And possibly use signed-for delivery, as HMRC won't confirm your application has been received. Is the Marriage Tax Allowance always a winner? Yes, in almost all cases, go for it. The only issue is that the non-taxpayer must pass over the full 10% of their allowance. So, in England, on standard tax rates, if they earn £11,310 to £12,570, that means they'll pay a little tax (eg, £100 on £11,810 earnings), yet as long as their spouse earns over £13,830, it's still a winner as their gain of £252/yr outweighs it. But in the edge-case that their spouse earns £12,570 to £13,830, their tax cost may outweigh their spouse's tax gain, so then it's not worth it.  PS: Some people also find that when they apply, HMRC looks at other tax issues too, so it crystallises those. That's not a reason for not applying, as that would've happened at some point anyway.

 

It's MSE's birthday, we're 22! Look at '0% card for life' deal from this early email. We've been inundated since Martin asked you to send us the oldest version of this email that you had in your inbox. Congrats to Richi (some fizz is on the way), who found this 0% for life card May 2003 Martin's Money Tips email with a deal we've never seen the like of since. The site was just 3mths old and the email had 11,000 recipients (it's 9m+ now) - thanks to you all. And if you've a birthday soon... 30+ birthday FREEBIES, eg, Krispy Kreme, Greggs. To celebrate our birthday, we've updated your birthday freebies round-up. New. Cheapest 50GB Sim - '£2.59/mth'. With unlimited mins & texts, this 50GB iD Mobile Sim is £8/month, but you can claim (don't forget) a £65 Amazon voucher within four months. If you'd have spent there anyway, factor it in and it's equivalent to £2.59/month over the 12-month contract. Want less data or a different network? Cheap Mobile Finder. Three & Virgin Media to hike bills by up to 7.5% for some - check to see whether you're affected. They're the latest to confirm price rises for some broadband, mobile and/or TV customers this spring - see full firm-by-firm analysis. 'We're in a state of disbelief' - 1,000s of mortgage prisoners moved to another inactive lender. We speak to those affected and explain what it means for you. See mortgage prisoners sale. World Book Day's coming: FREE children's book vouchers | Costume MoneySavers. It's on 6 March, so to help you prep, we've 12 free/cheap children's book tricks plus ways to save on the 'dreaded' costume. FREE National Outdoor Expo tickets. The expo is aimed at outdoor enthusiasts, plus these tickets get you entry to the National Cycling Show at the same place and time. 22 to 23 March at Birmingham's NEC. Normally £18. 5,000 available

 

 

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AT A GLANCE BEST BUYS 0% balance transfers Longest 0%: Barclaycard (check eligibility) up to 33mths 0%, 3.45% fee, 24.9% rep APR No-fee 0%: Barclaycard (check eligibility) up to 14mths 0% Best bank accounts Free £175 + TOP service: First Direct 1st Account Free £175 + 5% interest: Nationwide FlexDirect Broadband top picks Fast fibre (100Mb+): Virgin '£20.02/mth' Superfast fibre (500Mb+): Sky '£28.25/mth' On Universal Credit or similar? Check all discounted social tariffs Cheap insurance Car: Use our Compare+ Car Insurance tool Home: Try our new Compare+ Home Insurance tool Cheap loans £5,000 to £7,499: People's Choice (check eligibility), 7% rep APR (6.5% rep APR on £7,000 to £7,499) £7,500 to £25,000: People's Choice (check eligibility), 5.8% rep APR Top savings accounts Top easy-access cash ISA: Chip 5.25% (includes 90-day bonus), min £1 Top easy-access savings: Monument 4.75%, min £25,000 Top one-year fix: Co-op Bank 4.62%, min £1,000 Top energy deals Use our whole-of-market Cheap Energy Club Cheap Sims 31GB+ data: iD Mobile, '£2.59/mth' for 50GB

 

 

MSE NEWS - Top story: Uber to charge on overseas rides if you pay using your home currency

 

 

MONEY MORAL DILEMMA Should I ask my friend to pay the customs duty on the gift they sent from abroad? I have recently had a baby and a friend I met while living abroad has sent me a gift. But as it's come from overseas, I have to pay £70 customs duty on it, which I can't really afford. I don't want to appear ungrateful, but should I ask my friend whether they'll pay it or just suck it up and pay it myself? Enter the Money Moral Maze: Should my friend pay customs duty on the gift they sent? | Suggest a Money Moral Dilemma (MMD) | View past MMDs

 

 

MSE TEAM BLOG - MSE Forum highlights: Beer, bike storage & brick phones	DEALS HUNTER BLOG - Free build-your-own Lego mini F1 car this Saturday - Ends Thu. Six months' Apple Music for £3 (normally £66)

 

 

MARTIN'S APPEARANCES (TUE 25 FEB ONWARDS) Tue 25 Feb - The Martin Lewis Money Show Live, ITV1, 8pm Thu 27 Feb - Ask Martin Lewis, BBC Radio 5 Live, noon Tue 4 Mar - This Morning, phone-in, ITV1, 10.20am

 

 

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