A UK couple woke up to find themselves £11m richer thanks to what they believed were “aggressive high risk” investments. However they were soon left “heartbroken” after contacting their financial advisors who revealed that the massive “jackpot” was simply a technical error. On Wednesday morning self-employed builder Richard Warnock and his wife Jacqueline woke up […]

The average annual council tax bill will rise by £106 this year as local authorities seek to maximise revenue to pay for struggling frontline services, new figures show. The bill for an average Band D property will increase by five percent to £2,171, with all of the 153 upper-tier councils applying some or all of […]

A new report says more young people are working on zero-hour contracts than ever before. The Work Foundation found that in 2023, there were 136,000 more workers on these contracts than in 2022. Most of these went to young people aged 16 to 24. The foundation says not many people with zero-hour contracts get regular […]

Despite a slight drop in inflation, economists believe that the Bank of England is unlikely to change interest rates this Thursday. The inflation rate fell more than expected in February, reaching 3.4 percent, the lowest in two and a half years. This is good news for the Bank of England and its Monetary Policy Committee […]

Government plans to eventually scrap National Insurance (NI) could have huge implications for those claiming state pension and people paying income tax. Chancellor Jeremy Hunt recently told Parliament there was a “long-term ambition” to scrap the tax. Director of Pensions at Aegon, Steven Cameron, said of the proposal: “The consequences of abolishing National Insurance could […]

Nationwide is about to buy Virgin Money for £2.9 billion. Nationwide Building Society will soon own Virgin Money after they agreed on a deal worth about £2.9 billion. Nationwide has offered to pay 220p for each share of Virgin Money, and they plan to give a dividend of 2p per share too. Shareholders and members […]

This year it’s more important than ever as frozen income tax and National Insurance thresholds drive up the nation’s tax bills, despite Chancellor Jeremy Hunt’s National Insurance cuts. While Hunt likes to describe himself as a tax-cutting chancellor, the truth is somewhat different. He has driven the nation’s tax burden to a 70-year high and […]

Recent drops in inflation and positive GDP data could suggest the UK is emerging from recession. This development may lead Bank of England officials to debate the timing of interest rate cuts, raising the question of “how soon is too soon?” Myron Jobson, senior personal finance analyst at interactive investor, said: “High interest rates have […]

On Wednesday 6 March, Chancellor Jeremy Hunt announced the Government’s proposals for new financial policies, which are set to take effect from April 6, 2024. Mr Hunt announced the Government’s intention to launch a new type of individual savings account (ISA) that focuses only on UK investments. Part of the proposal for the UK ISA […]

The number of people aged over 16 claiming Personal Independence Payments (PIP) has reached 3.3 million, according to new figures from the Department of Work and Pensions. The figure is up from 2.9m in the same month last year with much of the rise due to increases in claims from people suffering with mental health […]