It has been revealed by HM Revenue & Customs (HMRC) that the number of online tax returns this year is at an all-time high. An influx of last minute online tax returns saw the figure rise higher than ever before, 7% greater than the preceding year. Almost seven million UK taxpayers filed the self-assessment form [...]
Posts under ‘Personal Finance’
UK consumer confidence lowest since 1994
Confidence in the country’s economy is at its lowest figure since 1994, a survey of UK consumers has revealed. The GfK NOP Social Research survey says the largest monthly drop in 16 years can attribute rising VAT as one of the main reasons. The study measuring consumer confidence betwixt December and January reports an eight [...]
Equitable Life compensation details announced
Further information has been released over the Equitable Life compensation affair. The Equitable Life pensions firm faced the brink of bankruptcy a decade ago, resulting in many of their policyholders losing money. Compensation of £775million will be distributed between 945,000 savers. In 2010, it was announced by the government that up to £1.5bn in compensation [...]
Pay freezes leave consumers out of pocket
Will pay match new inflation rates? With the inflation rate rising to 3.7% on everyday goods, many industries have been involved in disputes over attempts to enforce payment freezes. Many argue that freezes on payment, coupled with inflation of rates on goods will leave them out of pocket, and their salaries don’t recognise the rise [...]
Demand for mortgages decrease as home repossessions rise
In the latest data released by the Council of Mortgage Lenders (CML), it has emerged that the number of mortgage advances decreased last month, by 6%. The amount advanced, in excess of £11bn, was even lower than in December of the preceding year, by 18%. The figures from the end of last year are the [...]
Is an IVA right for me?
If you are experiencing financial difficulties then you may be considering an Individual Voluntary Arrangement (IVA) as a solution to these problems. Although they can be a good solution to debts, IVAs aren’t suitable in all situations and so how do you know if an IVA is right for you? A major factor in whether [...]
Families Worry About Rising Prices
According to a quarterly survey of 2000 people carried out by Aviva, the main worry for families concerning hardship is that of inflation. More than 50% of those questioned stated that their key area of concern for the foreseeable future was the rising price of basic, day-to-day necessities. The report was revealed the day after [...]
UK Holiday Makers Spending Less
In a poll undertaken by travelsupermarket.com, it has been revealed that most people in the UK envisage spending up to 20% less than they spent in 2010, on their main holiday this year. The survey, which questioned 2,153 adults, disclosed the average amount spent this year will be £829, down from £1,014 in 2010. In [...]
Further tax discrepancies announced
A recent recalculation of 2007-08 PAYE codes will result in many having to pay extra income tax. In September last year, six million UK citizens were advised to change their payments for 2008-09 and 2009-10. The government revealed an additional amount will be rendered from a further 450,000 people, although 250,000 state pensioners will see [...]
Six Million Carry Long Term Credit Card Debts
Over six million UK credit card users have had an outstanding balance on their card for a year or more according to research carried out by moneysupermarket.com. In the survey 14% of respondents stated that they have had debt on their credit card for a period of more than five years. The research also found [...]