Chancellor determined to cut 50p tax rate

Hole in the wall use reaches record levels

The use of ATMs (automated teller machines) increased to record levels last year according to the latest figures from the Payments Council. UK customers made 2.87 billion transactions at ‘hole in the wall’ machines during the year, accounting for total withdrawals of £191 billion, an average of £67 per visit. The represented the highest value [...]

Charity calls for budget to protect families

The Family and Parenting Institute has called on the Chancellor to avoid delivering a ‘Break-Up Budget’ on Wednesday. The charity, which aims to make the UK a better place for families and children, fears that a budget which puts family incomes under further pressure could threaten family life. The divorce rate in England and Wales [...]

Car insurers follow Marmalade in planning ‘black box’ policies

Research has revealed that more than 50% of drivers plan to switch to a black box insurance policy in the coming half decade. The UK’s young driver market leader Intelligent Marmalade (www.intelligentmarmalade.co.uk) is a product from the award winning young person’s car insurance provider Young Marmalade. “We have seen significant improvements in driver behavior since [...]

Chancellor determined to cut 50p tax rate

The question of whether or not to scrap the 50p income tax rate is dividing the coalition government in the run up to the budget on 21 March. Chancellor of the Exchequer George Osborne is determined to reduce income tax on earnings over £150,000, but the proposal has been met with disapproval by Lib Dem [...]

Stamp duty rush causes rents to fall

Rents on private accommodation fell by 0.6 per cent last month, to an average of £707, according to the latest Buy-to-Let Index from LSL, a provider of residential property services. The agency suggests that the fall is likely to be temporary as it is related to an increase in the number of tenants deciding to [...]

93% of ISAs transferred within 15 days

Many savers will be planning to transfer their cash Isa, to take advantage of new deals appearing prior to the start of the higher Isa allowance on 6 April. They will be pleased to hear that there has been a significant improvement in the time taken to complete a transfer. Isa’s often offer an introductory [...]

Debt repayment increasingly difficult says CCCS

Although households reduced their debts last year they face a ‘tide’ of difficulties in repaying them, according to a study by the Consumer Credit Counselling Service (CCCS). The study of 370,000 cases handled by the counselling service suggests that youth unemployment and rising rents are key factors which cause people to fall into debt. 42% [...]

Tesco raises pension age to 67

Supermarket retailer Tesco has increased its pension age by two years to 67 for the 170,000 employees who contribute to the company’s scheme. Tesco employees will still be able to retire from the age of 55 at a reduced pension rate, but they will only receive a full pension if they work until 67. The [...]

Credit card insurance covers faulty breast implants

Lloyds TSB has refunded the £3,700 cost of a woman’s breast implants after they ruptured. The woman, who is in her 40s and lives in the Midlands, had the implants in 2008 at a private firm which later went into administration. . She consulted a breast cancer clinic in September 2011 after she found a [...]

Virgin Money hikes credit card interest rates

Virgin Money has increased the interest rate on credit cards for some of its customers from 16.8 per cent to 24.9 per cent. Following criticism of the move, the bank unsympathetically told the customers to either accept the increase, which amounts to nearly 50 per cent, or pay off their balances. The rates on balance [...]