Finance

Coracle Online opens up education and purpose for prisoners with secure digital solution The economic and social costs of reoffending are some £18billion a year for the UK. “While we understand people want offenders to be punished, we can’t put our heads in the sand when it comes to rehabilitation,” Tweed points out.  “We aim to give prisoners basic digital ...

Britons urged to act this week to make the most of ‘significantly lower’ energy bills Go.Compare Energy has urged consumers to take a meter reading before the new energy price come into force on October 1, which could mean households paying 26.8 percent more for their bills. The Government announced an Energy Price Guarantee, to reduce the new Ofgem price ...

Work scams ripping Britons off anxious about money – 4 signs your new job is a scam We appreciate that for some, in these uncertain times, the opportunity to earn additional income is very tempting. Criminals are targeting people by offering them easy money by starting their own business or other working from home opportunities that aren’t what you think ...

State pensioners with hearing problems could claim DWP benefit worth £369 a month How much is Attendance Allowance? It works out at £61.85 a week if someone needs help or supervision during the day or at night. The higher rate, of £92.40, is awarded if a person needs help during the day and overnight, or if they are terminally ill.  ...

Thousands of pension savers given temporary ‘incentive’ through income tax cut This is the case if they are subject to the tapered annual allowance – a limit on the amount of contributions paid to, or benefits accrued in, a pension before the person has to pay tax. Since April 6, 2020, it only affects those who meet both of the ...

Bank of England’s chief economist warns Britons ‘significant’ interest rate rise coming The Bank of England has warned Kwasi Kwarteng‘s mini-budget, which saw the pound sterling plummet to a record low against the dollar, will require “a significant monetary policy response”. Chief economist Huw Pill reasserted the Bank of England’s willingness to act quickly to bring inflation under control. He ...

‘Attractive!’ Building society hikes rates on savings accounts – does it beat inflation? Myron Jobson, a senior personal finance analyst at interactive investor, shared how inflation and the current cost of living crisis is hurting savings accounts. Mr Jobson said: “Borrowing increased amid the biggest fall in living standards in generations, but while overdraft levels rose gradually in Q2 this ...

Pension warning: 12 million Britons not saving enough for retirement – are you? Last week, the pensions minister Guy Opperman confirmed 12 million people in the UK are not sufficiently saving for retirement in a written response to MPs. However, this figure was based on analysis based in 2017 and opposition politicians are asking the Government to provide an updated ...

What help and support is available to struggling Britons who can’t pay bills? People on benefits could also also apply for things like reduced travel, free broadband and Healthy Start Vouchers.  Around one million households are eligible to receive free broadband installation from Openreach, which could save a low income household £92 a year. Healthy Start Vouchers are available to ...

Inheritance tax: How a pension could shield your estate from a hefty tax bill Inheritance tax takings by the taxman have hit the highest they have ever been with HM Revenue and Customs (HMRC) taking £6.1billion in the 2021-22 tax year. Inheritance tax is a tax paid on an estate of someone who has died and includes a person’s property, ...