Latest News

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All claimants can now use a new online service to renew their tax credits, as the 31 July deadline approches, HM Revenue & Customs said yesterday (2 June). Just over 1.5 million claimants still need to renew their claims by the end of the month, or their...
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British pensioners have seen their incomes grow for the first time in real terms in three years, the Department for Work and Pensions (DWP) said yesterday (2 June). New official statistics show that, in 2012/13, average gross incomes of pensioner...
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Average UK house prices in April 2014 were around 6.5% above their pre-downturn peak, although much of this increase is concentrated in London, the Office for National Statistics (ONS) revealed today (2 June). The Quarterly National Accounts indicated that...
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Universal Credit was extended yesterday (30 June) as the service opens up to new claims from couples in five of the existing sites, namely Hammersmith, Bath, Rugby, Harrogate and Inverness. Other sites in the north west of England and Wales will also make...
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A guide setting out the full range of debt and equity finance options for businesses as they journey from start-up to listing on the stock exchange was launched on Thursday (26 June) by the British Business Bank and Institute of Chartered Accountants in...
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No new loans at or above 4.5 times borrowers’ income can be included in the Help to Buy mortgage guarantee scheme, following the introduction of a Loan-To-Income (LTI) limit on mortgage lending by the Bank of England. As set out in the Financial Policy...
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Over 35,000 aspiring homeowners have been helped onto the property ladder through one of the Government’s Help to Buy schemes, Kris Hopkins announced yesterday (26 June). New figures show that since the launch of Help to Buy 14 months ago, 22,831 people...
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Next week sees the closure of HM Revenue & Customs’ (HMRC's) last enquiry centres for those who need extra support in dealing with their tax affairs, the Low Incomes Tax Reform Group (LITRG) warned yesterday (24 June). Instead, UK residents will...
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More than £20 million specifically earmarked to help people adapt to welfare reforms was not spent by local authorities last year, the Department for Work and Pensions (DWP) has revealed. New figures show that almost two-thirds (63%) of councils paid...
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New measures in the Small Business, Enterprise and Employment Bill will enable banks to use new technology to deliver better services for customers, the Economic Secretary to the Treasury, Andrea Leadsom, said yesterday (25 June). Through the bill, the...
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Payday lender Wonga will pay compensation of over £2.6 million to around 45,000 customers for unfair and misleading debt collection practices, the Financial Conduct Authority (FCA) announced yesterday (25 June). In an investigation begun by the Office...
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Despite being just one week away from the New ISA launch, 77% of Great Britain – or 38 million people – has little or no understanding of the £15,000 New ISA allowance coming into play on 1 July, according to new research. Led by Brokerage...
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Lenders expect demand for mortgages to continue to rise in the next three months, the Bank of England has said. However, supply may be squeezed slightly. The Bank's new Credit Conditions Survey also found that demand for home loans "increased...
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Universal Credit, the Government’s flagship welfare reform, is rolling out across the north west of England from today (23 June), the Department for Work and Pensions (DWP) has announced. Four more Jobcentres are now offering the new benefit: Hyde,...
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About 300,000 long-term unemployed people have found lasting work thanks to the Work Programme, the Department for Work and Pensions (DWP) said yesterday (19 June). This represents an increase of 44,000 people in jobs in the last three months. The Work...
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Gross mortgage lending held steady in May and was an estimated £16.5 billion, according to new figures from the Council of Mortgage Lenders (CML). This is identical to April’s gross lending total and is 12% higher than May last year (£14.8...
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The Government has launched four consultations on proposed changes to simplify the administration of employee benefits in kind and expenses, HM Revenue & Customs (HMRC) announced yesterday (18 June). Following a review of employee benefits and expenses...
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An Independent Scotland could find it more difficult than the UK as a whole to afford state pension expenditure, according to evidence submitted to the Scottish Parliament Finance Committee by the Pensions Policy Institute (PPI). The Pensions Act 2014...
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The Consumer Prices Index (CPI) fell to 1.5% in May compared with 1.8% in April, new figures from the Office for National Statistics (ONS) reveal. It is the sixth consecutive month that inflation has been below the Bank of England's 2% target. Falls in...
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The number of people who think that now is a good time to buy a home is at its lowest level since June 2008, the Building Societies Association (BSA) Property Tracker report has revealed. Some 29% of respondents believe that now is a good time to buy, down...
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Credit Suisse International (CSI) and Yorkshire Building Society (YBS) have been fined by the Financial Conduct Authority (FCA) for failing to ensure financial promotions for CSI’s Cliquet Product were "clear, fair and not misleading". CSI was...
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Tax credits claimants are being warned about scam or "phishing" emails sent out by fraudsters in the run-up to the 31 July renewal deadline, HMRC said on Monday (16 June). It said nearly 24,839 phishing emails were reported during last year’s...
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The number of benefit decision appeals dropped by 79% to 32,546 between January and March 2014 compared to the same time last year, the Department for Work and Pensions (DWP) has revealed. This figure comes after the Government implemented changes to the way...
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New legislation to bolster customers' rights throughout the European Union came into effect on Friday (13 June), the European Union has announced. The new EU Consumer Rights Directive was designed to strengthen consumers' rights when they...
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A joint review by the Treasury, the Bank of England and the Financial Conduct Authority (FCA) will look into the way wholesale financial markets operate, the Chancellor of the Exchequer, George Osborne, announced yesterday (12 June). The objective is to raise...