Respected think tank, the Institute for Fiscal Studies (IFS), has today revealed three quarters of a million people will become higher rate taxpayers from April. The earnings threshold will be lowered to £35,001 from £37,400 on 5 April – with the IFS estimating that the average household will be £200 worse off. The study from [...]
According to a study by professional services firm Deloitte, 76% of companies in the UK, US and Europe have exceeded City forecasts when reporting their second quarter profits. As a result of the findings of the study which looked at 543 firms, Deloitte said companies are making “real progress” but warned that consumer incomes and [...]
Over 90% of institutional investors want green investments in their portfolio, according to a new study. Research commissioned by the New Energy World Network (NEWN) found more than nine in ten private equity, pension, insurance and venture capital funds would like to have some exposure to renewable energy, clean technology, and sustainability-related investments. Two thirds [...]
Charities should encourage their supporters to donate online, Virgin Money Giving claimed this week, as online donations have the greatest Gift Aid take up. The government adds 28% to donations made with Gift Aid, so a donation of £1 becomes £1.28. Research in 2009 found donors who give online are more likely to fill in [...]
Mortgage rates are at their lowest for seven years, according to new research. The study by Moneyfacts.co.uk found the average interest-rate on a two-year fixed rate mortgage is 4.52%, the lowest since September 2003. Interest rates on fixed rate mortgages have been dropping since September last year as lenders attempt to entice borrowers away from [...]
Brits are more likely to change their allegiance during the World Cup than to switch to a best buy bank account. Research by the Co-operative Bank found 31% of people plan to choose a new team to support if their favourite side is knocked out of the World Cup. This is compared to just 29% [...]
More than half of Brits are clueless about the fastest growing sector in the UK economy — social enterprise. A study by O2 and Social Enterprise Magazine found many people are confused about the difference between a social enterprise and a charity. Over 50% of those polled wrongly believe social enterprises get most of their [...]
Social enterprises defied the recession to achieve substantial growth during the economic downturn, according to a new study published this week. Research by the Royal Bank of Scotland found the 100 highest growth firms in the sector reported an annual growth in revenue of 79% in the year to March. Of the 350 firms that [...]
Saving rather than borrowing has been the “major victim” of the credit crunch, according to new research published this week. The study by unbiased.co.uk found that savings levels dropped from £38.7 billion between April and June 2008 to £19.9 billion between July and September 2008 and haven’t recovered since. In the first three months of [...]
More and more Brits are converting their garages into living space and evicting their cars onto the driveway, according to new research published this week. The study by Santander found one in ten garage owners have converted or plan to convert their garage. Only a third (34%) of garage owners now use their garage to [...]
Travel agents are selling rip-off travel insurance policies to British holidaymakers, Which? has claimed. An undercover investigation by the consumer advice group found travel agents selling policies worth just £20 for up to £80.99. Over half of the travel agents visited (17 out of 29) failed to provide basic details of the insurance policies they [...]
Nearly a third of couples remain financially single despite living together, new research has found. A study by Tesco Bank found 29% of couples in the UK are unwilling to pool their earnings into a joint account. The research also found that it takes an average of two years before couples are happy to share [...]
Social enterprises are underfunded because they lack access to capital, according to a new report launched this week in Australia. The Financing Social Enterprise report, researched by Foresters Community Finance, said social enterprises are often unable to access finance from mainstream lending institutions. “The greatest challenge for emerging social businesses is their lack of access [...]
Brits are stretching their budgets by more than £40 billion a year, according to new research. A study by GE Home Money on behalf of Moneybasics.co.uk found that 77% of adults have set themselves a monthly spending limit. Of these, 60% confessed going over budget every month, with an average over-spend of £154. One in [...]
Business schools are increasingly attracting students with a social conscience, new research has found. A poll of business schools by Bloomberg BusinessWeek found that one in five has seen an increase in the number of applicants interested in microfinance, sustainability, social enterprise, and nonprofits. “It seems like every other [application] I look at is talking [...]
With the end of recession consumers are re-embracing the mantra “buy it now, pay for it later”. Brits are returning to their old habits of spend and borrow, indicating that the thrift of the recession may have been a short-lived fad. Figures from unbiased.co.uk show that at the end of 2009, consumers were borrowing 62p [...]
Young drivers in the UK are less likely to make an insurance claim than their European counterparts, according to a new study. Research by AXA found that British motorists aged under 25 are 30% less likely to make a claim than young drivers in Spain or France, and 25% less likely than those in Germany. [...]
One in four children have reduced their spending because of the recession, according to new research published this week. The study, commissioned by HSBC and the Personal Finance Education Group (pfeg), found that children’s attitudes to money have been strongly impacted by the recession. Eight in ten of the 1,000 children polled said they would [...]
A study by Lloyds TSB Commercial has revealed the impact the big freeze had on the UK’s small and medium-sized companies (SMEs) earlier this year. According to the research, the coldest winter in decades cost SMEs more than £7 billion. Seven out of ten small firms were severely affected with snow and ice hitting deliveries [...]
Young people are risking their financial future by opening multiple current accouts to maximise their access to overdraft facilities, according to a new report. Research by YouGov, on behalf of Callcredit, found that nearly one in ten (9%) 18 to 24 year olds have three or more current accounts in their name with an overdraft [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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