Latest News

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Benefits paid to people of working age would be frozen for two years if a conservative government is re-elected, Chancellor George Osborne told the Conservative Party conference yesterday (29 September). He said the proposed freeze, which would not include...
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People with defined contribution pension savings will no longer have to worry about their pension savings being taxed at 55% on death, Chancellor of the Exchequer, George Osborne, announced on Monday (29 September). From April 2015, individuals will have the...
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Pensioners have one year to go until they can obtain State Pension top-ups worth up to £1,300 a year, the Department for Work and Pensions (DWP) announced yesterday (28 September). People can pre-register now and from 12 October 2015 until 5 April 2017,...
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Thousands of social tenants in the UK are to receive details in the coming days of how they can exercise their Right to Buy and become first-time homeowners, the Department for Communities and Local Government announced yesterday (25 September). Since the...
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Plans to bring second charge mortgages and to implement the Mortgage Credit Directive were unveiled yesterday (25 September) by the Financial Conduct Authority (FCA). The regulator has proposed that from 21 March 2016 the regulation of second charge...
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Over a quarter of people with a mortgage (27%) say they will be in financial trouble when interest rates rise, according to new research published by the Building Societies Association (BSA) and the Money Advice Trust. The survey reveals that 39% believe they...
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There has been a steep fall in graduate unemployment in the UK, according to new figures from the Higher Education Careers Service Unit (Hecsu). The survey - which analysed the destinations of 256,350 new graduates six months after they left university -...
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Businesses supplying digital services across the European Union will be able to register for a new online VAT service from 20 October, HMRC announced yesterday (23 September). This will mean that they do not have to register VAT separately in each country...
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Barclays Bank Plc has been fined £37,745,000 for failing to properly protect clients’ custody assets worth £16.5 billion, the Financial Conduct Authority (FCA) has announced. The bank failed to properly apply FCA rules when opening 95...
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Debt management firms must demonstrate they provide appropriate advice when assessments for consumer credit authorisation start next month, the Financial Conduct Authority (FCA) has said. They must also not charge unfair fees and have adequate processes for...
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The average price of a flat in the UK has risen by nearly £51,000 (£425 per month) - from £157,172 in 2004 to £208,169 today, according to new research. Mortgage lender Halifax said the 32% increase in the average price of a flat is...
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Two tax planning accountants have been cleared of cheating the public revenue through a fraudulent charity relief tax scheme. Edward Watkin Gittins and Martin Calcutt, both directors of tax consultancy Montpelier, were charged in August 2013.  ...
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Pension providers will soon be sending annual allowance pension statements for the 2013-14 tax year to all scheme members contributing more than £50,000 in the year. HM Revenue and Customs (HMRC) is providing several tools to help taxpayers deal with...
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Gross mortgage lending reached £18.6 billion in August, according to new figures from the Council of Mortgage Lenders (CML). This is 5% lower than July (£19.7 billion) but 13% higher than August last year (£16.4 billion). This is also the...
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Owners of second homes are increasingly reclassifying the properties as holiday lets in order to avoid council tax, according to an investigation by the Independent newspaper. Residential properties used as first or second homes are liable to full...
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The annual rate of UK inflation fell in August, with decreases in the prices of motor fuels and food & non-alcoholic drinks providing the largest downward contributions to the change in the rate, according to the Office for National Statistics (ONS)....
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Three-quarters (72%) of adults in their twenties admitted to money mistakes in their first years of financial independence which they now regret, according to new research from the Money Advice Service. Getting access to credit for the first time at the age...
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The Government has introduced the Insurance Bill to Parliament, updating the 100 year-old rules governing contracts between businesses and insurers, HM Treasury announced today (16 September). The new bill introduces a more modern legal regime which the...
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Businesses with less than 50 employees will receive automated penalties for late real-time PAYE returns from 6 March 2015, HM Revenue and Customs has announced. However, those who employ 50 or more people will face in-year penalties from 6 October 2014. HMRC...
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A package of measures will save housebuilders and councils £114 million per year by cutting red tape, the Government announced on Friday (12 September). These new rules will also ensure homes are still built to demanding standards, particularly...
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Nine million private tenants in the UK could be given extra protection from landlords who try to evict them, the Government announced on Thursday (11 September). It has decided to back a private member's bill which would make it illegal to evict tenants...
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The new Current Account Switch Service has helped 1.1 million people switch bank in the first eleven months since its launch on 16 September 2013, according to the Payments Council. This is a 19% increase compared with the same period one...
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Annuity rates saw their biggest monthly fall in three years last month, according to new research from Investment Life and Pensions Moneyfacts. The figures show the average annual income from a level annuity for a 65-year-old without guarantee, based on...
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Home seekers would face higher rents and restricted choice if tenancy rent controls were introduced in the UK, according to new research from the Institute of Economic Affairs (IEA). The report argues that policymakers should instead look to...
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The Autumn Statement 2014 will be delivered to Parliament on 3 December 2014, Chancellor of the Exchequer, George Osborne, announced yesterday (2 September). He revealed the date during the regular Treasury questions session in the Commons, adding: "The...