HMRC News & Analysis
4 articles
Market Mood
New Vaping Tax Imposes £2.20 Per 10ml for E-Liquids
A new Vaping Product Duty will be implemented at £2.20 per 10ml of e-liquid. Sellers have six months to sell old stock at the existing price, meaning price increases may not be immediate for consumers. This tax aims to make vaping less appealing to young people amid rising health concerns. In addition, the government is launching a traceable stamp for vaping products starting in April to combat illicit trade. This measure could lead to higher prices and reduced demand for vaping products, impacting market dynamics significantly.
Read More: New Vaping Tax Imposes £2.20 Per 10ml for E-Liquids
Child Benefit Worth £27.05 Weekly for Eligible Families
Child benefit currently provides £27.05 per week for the first child and £17.90 for each additional child. More than 6.8 million parents received child benefit in the year to August 2025, but 69% claimed it before their baby's first birthday, suggesting many could miss out. Payments can only be backdated for three months from when a claim is made. Understanding these figures is crucial as some families might be missing out on substantial financial support during early parenthood.
Read More: Child Benefit Worth £27.05 Weekly for Eligible Families
New £30m High Street Crime Unit Launches to Combat Gangs
The UK government announced a £30 million High Street organized crime unit to target illegal activities linked to shops, following a BBC investigation. The National Crime Agency (NCA) will receive £20 million of the funding and allocate 75 new police officers to key regions including Greater Manchester, West Midlands, Essex, and Kent. The government estimates that £1 billion of criminal cash is laundered annually through High Street stores. Home Secretary Shabana Mahmood highlighted plans for extensive law enforcement actions, including shop raids and extended closure orders for criminal businesses.
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Lloyds Banking Group customers face challenges with £900 cheque deposits
A woman struggled to deposit a £900 cheque from HM Revenue and Customs (HMRC), as Lloyds Banking Group has stopped allowing customers to use Post Offices for cheque deposits since January. Industry data indicates cheques accounted for only 0.1% of all UK payments in 2024. Lloyds stated alternatives include depositing checks via their app, visiting branches, or using a freepost service. This situation highlights banking access issues for rural communities, which could affect customer retention and service reputation.
Read More: Lloyds Banking Group customers face challenges with £900 cheque deposits