UK Money

Taxman 'too cosy' with accountants

A committee of MPs has called on revenue officials to do more to crack down on tax evasion

HM Revenue and Customs has "too cosy" a relationship with large accountancy firms which advise wealthy individuals and corporations on how to avoid tax, a parliamentary report has warned.

Inflation not that low - bank chief

The Bank of England's deputy governor has said that inflation is not that low

Bank of England deputy governor Minouche Shafik has said underlying inflation is "not that low" despite figures showing the main rate fell to zero last month, adding that the next move in interest rates was likely to be up.

Labour pledges not to raise NI

Prime Minister David Cameron has ruled out an increase in VAT in the next parliament if the Conservatives are returned to power

Labour has countered David Cameron's pledge not to increase VAT if the Conservatives win the general election with its own promise not to hike National Insurance.

Increase in mortgage approvals

Low interest rates are leading to more people taking out mortgages, a report has found

The number of mortgages being approved to home buyers is increasing as borrowers take advantage of the ultra-low rates on offer, according to a high street banking report.

Pension Wise phone number launched

People can use the phone to book appointments for a conversation about what to do with their pension

A phone number enabling pension savers to book an appointment for free guidance that will help them make vital decisions their new retirement freedoms has been confirmed by the Government, with a fortnight to go before the rules come into force.

Nine in 10 'have disposable income'

The average disposable income is now around £242, new figures show

Nearly nine in 10 people have enough money left over each month to spend on luxuries as the pressure of living costs continues to ease, research has found.

Property prices down by 0.2%

The average UK house price stood at £273,000 in January, figures showed

House prices fell by 0.2% month-on-month in January as the majority of the UK saw signs of a slowdown in the pace of growth in property values, according to an official report.

UK on brink of negative inflation

Inflation is expected to have dropped closer to zero when official figures for February are published.

Britain is on the brink of negative inflation for the first time in half a century after figures showed the rise in the cost of living fell to zero last month.

Firms named and shamed over wages

Some 48 employers in sectors ranging from fashion and publishing, to health and fitness and retail have been accused of not paying minimum wage

The Government has named almost 50 employers for failing to pay their workers the national minimum wage, including childcare nurseries, restaurants and a 99p store.

Osborne grilled over VAT tax levels

Ed Balls said the Conservatives had a consistent history of raising the rate of VAT

Chancellor George Osborne has declined to give a "cast-iron guarantee" to match Labour's pledge not to increase VAT over the five years of the next Parliament.

MPs want benefit sanctions review

A report has raised concerns about the approach to benefits being taken in some jobcentres

The new government should launch a review of benefit sanctions after complaints that money is being withheld from people with little or no other income, according to MPs.

Average home 'to have £10,000 debt'

Household debt is increasing, a survey has found

The average UK household is set to owe close to £10,000 in debts such as personal loans, credit cards and overdrafts by the end of 2016, which is a new high in cash terms, a new report has found.

Cash 'most popular way to donate'

Two in three people who gave to charity in the past 12 months said they used cash to do so

Cash remains king when it comes to making charitable donations, despite the increasing number of ways to give to charity, new research suggests.

CBI sets out economy action plan

CBI director general John Cridland said much remains to be done to secure the UK's economic future

Business leaders have set out their priorities for the new government, including staying on top of public finances, tackling the housing crisis and pressing ahead with reforming the European Union.

MPs slam company insolvency system

City Link went into administration at 7pm on Christmas Eve last year

The collapse of delivery firm City Link has exposed how company insolvencies do not offer enough protection to workers, according to a damning report.