Latest News

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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...
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The next stage of the Government’s pension reforms received a Second Reading in Parliament yesterday (2 September), the Department for Work and Pensions has announced. The Pension Schemes Bill will enable the development of new breeds of Defined...
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Official statistics show more than 48,000 people have bought a home through the Help to Buy scheme, the Government announced on Tuesday (2 September). Around 82% of purchases have been made by first-time buyers. The average house price for both parts of the...
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Misunderstanding financial terms and conditions is hitting UK residents finances, according to new data from the Money Advice Service. The study of 3,000 UK adults shows that confusion around financial terms and conditions in the last 12 months cost...
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The Bank of England’s Monetary Policy Committee voted to maintain interest rates at 0.5% at its meeting yesterday (4 September). The Committee also decided to maintain the stock of purchased assets financed by the issuance of central bank reserves at...
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The Bank of England’s Monetary Policy Committee voted to maintain interest rates at 0.5% at its meeting yesterday (4 September). The Committee also decided to maintain the stock of purchased assets financed by the issuance of central bank reserves at...
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A campaign reassuring people that their money is protected by the Financial Services Compensation Scheme (FSCS), up to the value of £85,000 per person if their bank was to fail, has been launched today (8 September). The 'Protecting Your...
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A consultation on incorporating new European regulations on mortgage lending into UK law was launched by the Government on Friday (5 September). These new regulations set common standards that EU members need to meet in order to protect consumers taking out...
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The number of people struggling with payday loans has risen by 42% in the past year in the UK, according to StepChange. The debt charity's latest figures show the number of people getting into difficulty as a result of payday loans is continuing to...
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The amount of new money being borrowed by UK consumers jumped to more than £1 billion in July, new figures from the Bank of England published yesterday (1 September) have revealed. This compares to the average monthly increase of £0.8 billion over...
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Firms have improved complaints handling and are reopening millions of old complaints to ensure fair redress is paid, the Financial Conduct Authority (FCA) has reported. In an update on its Payment Protection Insurance (PPI) redress work, it said banks,...
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The Seychelles has committed to automatically exchanging tax information, the Government announced yesterday (28 August). It becomes the 46th country to join the initiative launched by the G5 countries of the UK, France, Germany, Italy and Spain. The new...
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Deutsche Bank AG London Branch (Deutsche) has been fined £4,718,800 for incorrectly reporting transactions between November 2007 and April 2013, the Financial Conduct Authority (FCA) announced yesterday (August 28th). The bank failed to properly report...
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Lending to small and medium-sized firms (SMEs) via the government's Funding for Lending Scheme (FLS) fell again in the second quarter of the year, according to new figures from the Bank of England. Net lending to SMEs dropped by £435 million, while...
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High Street banks have reported a rise in savings deposits in July following the launch of New Individual Savings Account (Nisa) rules, according to figures from the British Bankers' Association (BBA). Savers deposited £4.9 billion in Nisas in July...
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Half of UK households will have to cut spending this year, Citizens Advice has warned. The charity said that expected rises in interest rates will need to be “slow and steady” to help families meet housing costs. New research...
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A review of the Tax and Procurement policy that came into effect from 1 April 2013 has been published by HM Revenue & Customs (HMRC) yesterday (26 August). It explored whether the policy is having the intended effect of encouraging tax compliance from...
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Parents should check if their two-year-olds will be eligible for free childcare when the amount on offer doubles next week, the Government said yesterday (26 August). From next week, around 40% of two-year-olds will be entitled to 15 free hours of...
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The Royal Bank of Scotland and NatWest have been fined £14,474,600 for serious failings in their advised mortgage sales business, The Financial Conduct Authority (FCA) announced today (27 August). It explained the firms failed to ensure that advice...
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Banks and other financial institutions are at risk of bombarding customers with too much financial jargon they don’t understand, according to new research. The National Savings and Investments (NS&I)'s survey shows that only 67% of Britons know...
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The cost of a first-time buyer owning a home in the UK is now on average £110 per month lower than renting or £1,316 per year, new research by banking chain Halifax reveals. The average monthly mortgage costs associated with owning...
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People who turn 65 this year can expect to spend nearly 20 years in retirement, according to new research. Prudential analysis of Office for National Statistics estimated life expectancy data shows that someone who celebrates their 65th birthday in 2014 can...
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UKIP has outlined the tax strategy that will comprise a key part of its General Election manifesto next year, with the party pledging to cut taxes and take low earners completely out of income tax. According to Nigel Farage, leader of UKIP, the policies will...
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HM Revenue and Customs has unveiled a list of the names, addresses and penalty fines of the UK's tax evaders, totalling more than £30 million in unpaid tax. In an effort to scare tax dodgers, the Government is publishing the details of both...
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The value of household savings has risen by more than 500% over the past 40 years, according to the latest figures. Data from Lloyd's shows that the value of savings, including deposits, savings and pensions, is now 539% higher in real terms than it was...