Archive for April, 2006

TweetShareThe Commons Public Accounts Committee believes that the HMRC paid around £2.2 billion too much during the 2004 to 2005 period, the same amount as during the scheme’s first year in the previous tax year. “An element of overpayment to claimants was an inherent part of the design of the tax credits system,” the committee’s [...]

TweetShareFollowing a survey of the country’s financial advisers, the Pru believes that a pension plan, a spot on the housing ladder and the beginnings of personal savings should all be underway before we turn 30. The majority of advisers believe that ideally, a pension should have begun by the age of 22 and a first [...]

TweetShareRecording a dramatic leap in the debts it has negotiated on behalf of its clients in Ely during the past year, the Ely CAB says local families are all paying the price. In total debts now amount to £3 million, an increase of 76 per cent in the last 12 months, making personal debt the [...]

TweetShareThe event, which is to be held at the London School of Economics, will be the first time that researchers reveal the correlation between growing up poor and suffering from debt and poverty in middle age. As the trend is worsening, the conference will look at the experiences of adults today that are poor, and [...]

TweetShareuSwitch.com found that taking out an HSBC loan could cost more than £1,000 extra in interest compared to the same loan from a different lender, such as Direct Line. Overall, there are 13 lenders offering customers personal loans with a rate of six per cent annual percentage rate (APR) or less. Nick White, head of [...]

TweetShareThis is higher than the February’s figure of £4.7 billion, and also above the previous six month’s average of £4.9 billion. Meanwhile, unsecured personal lending has fallen by £0.4 billion, according to the latest figures from the major British banking groups. David Dooks, director of statistics at the BBA, said: “The contrast between stronger mortgage [...]