Financial news

• Treasury disbanded non-dom tax policy unit weeks before budget, sources say

  07-03-2024 18:54
  
  Exclusive: Officials fear government is ill-prepared for lobbying from wealth advisory industry after taxation overhaulBudget 2024: key points at a glanceThe Treasury disbanded a unit tasked with offshore and non-dom tax policy weeks before announcing significant changes in the budget to the way foreign residents are taxed, sources have said.The unit, which comprised technical experts on offshore tax issues, included specialists on non-dom policy. These officials would, according. to the sources
  
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• Inside Nationwide's new £2.9m deal to buy Virgin Money and what it means for customers

  07-03-2024 17:56 via express.co.uk
  
  Nationwide is set to become the UK's second largest mortgage and savings group after acquiring Virgin Money.
  
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• Aviva’s profits rise as demand for UK private health insurance booms

  07-03-2024 17:53
  
  Fears over NHS waiting lists contribute to 41% increase in sales of policies, contributing to £1.5bn operating profitBooming demand in the UK for private health insurance, as NHS waiting lists remain at near-record levels, has boosted annual profits at Aviva, with more frequent claims and higher medical costs driving up premiums.Britain’s biggest general insurer said sales of health insurance had risen 41% in 2023 compared with the previous year, with strong demand from businesses an
  
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• Home buyers issued update over falling house prices as watchdog revises forecast

  07-03-2024 16:59 via express.co.uk
  
  Estimates from the OBR suggest that falls in house prices will be less than previously reported.
  
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• ITV to splash the cash on shareholders despite profits plunging more than 60%

  07-03-2024 16:55 via express.co.uk
  
  ITV plans to hand over nearly £370m to shareholders, despite the fact that its annual profits have crashed due to an advertising slump.
  
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• 'I'm a Barclays investment expert - you shouldn't put all your money in savings'

  07-03-2024 16:33 via express.co.uk
  
  EXCLUSIVE: An expert has laid bare the pros and cons of keeping all your money in a savings account or investing it.
  
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• EnterpriseAlumni builds brave new worlds for female-led firms and staff talent

  07-03-2024 16:23 via express.co.uk
  
  EnterpriseAlumni campaigns for investors to back female-led firms and for firms to keep in touch with former employees
  
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• Marks & Spencer adds eco-fashion brand Nobody's Child to more stores

  07-03-2024 16:16 via express.co.uk
  
  Marks & Spencer is to expand the number of stores that carry its eco-conscious, affordable fashion brand Nobody's Child from 12 to 60, following a successful trial.
  
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• Child benefit calculator - check how Budget reforms will affect your household

  07-03-2024 15:54 via express.co.uk
  
  The child benefit rule change is set to benefit as many as 170,000 households.
  
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• Most affordable place for first-time mortgage holders to buy a house in the UK

  07-03-2024 15:44 via express.co.uk
  
  New data reveals the best part of the United Kingdom for first-time buyers to get on the property ladder.
  
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• Richard Branson to get windfall from £2.9bn Virgin Money sale to Nationwide

  07-03-2024 15:36 via express.co.uk
  
  Sir Richard Branson is in line for a £420million plus windfall thanks to Nationwide's £2.9billion deal to buy challenger bank Virgin Money.
  
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• What is national insurance and should it be scrapped?

  07-03-2024 14:37
  
  The chancellor’s 2p cut in workers’ contributions has prompted suggestions the payments could be axed. What would that mean for you and your money?Budget 2024: key points at a glanceThe budget on Wednesday included a further 2p cut in workers’ national insurance contributions (NICs) and the chancellor, Jeremy Hunt, told MPs in his budget speech he wanted to scrap the tax entirely “because we believe that the double taxation of work is unfair, our long-term ambition is to
  
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• National Insurance Budget change branded 'fake cut' for one simple reason

  07-03-2024 13:57 via express.co.uk
  
  The changes to National Insurance in Jeremy Hunt's Budget were dismissed live on air after the Chancellor's Spring Statement.
  
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• Hunt ‘repeating Truss’s errors with £46bn unfunded tax proposal’ to scrap national insurance, says Starmer – UK politics live

  07-03-2024 13:11
  Labour leader claims Tories ‘have learned nothing’ from former PM’s mini-budgetKeir Starmer has accused Jeremy Hunt of repeating the budget mistakes made by Liz Truss during her disastrous premiership.In comments on the budget during a visit to a building site this morning, Starmer focused on Hunt’s proposal to abolish employees’ national insurance over time, saying that this was a bigger unfunded tax promise than those in Truss’s mini-budget. (See 9.28am.)How
  
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• How cruise ships became a catastrophe for the planet – video

  07-03-2024 11:31
  
  Cruising is booming – 2023 ticket sales have surpassed historic levels and 2024 has seen the launch of the largest cruise ship ever built. But as cruise tourism's popularity has increased, so have the pollution problems it brings. To customers, it may not be evident that any problems exist, since some cruise line companies claim to be becoming more climate-friendly. But the truth can be quite different. Josh Toussaint-Strauss interrogates what impact the world's biggest ships are having on
  
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• Income tax likely to go up if national insurance scrapped, Hunt suggests

  07-03-2024 10:28
  
  Labour says chancellor’s ambition to eventually abolish NI would cost £46bn a year, and party questions how move would be paid forUK politics – latest updatesIncome tax may eventually have to be raised to pay for abolishing national insurance, Jeremy Hunt has suggested the day after delivering the government’s spring budget.The chancellor spent about £10bn to cut NI by 2p in the budget, and has indicated that the government’s eventual ambition is to scrap the
  
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• Nationwide to buy Virgin Money in £2.9bn deal

  07-03-2024 10:23
  
  Lenders reach preliminary agreement on key terms in deal to create new competitor with £366bn in assetsBusiness live – latest updatesNationwide Building Society has agreed to buy Virgin Money in a deal that values its high street rival at nearly £3bn and would create the second-largest provider of mortgages and savings in the UK.The two lenders have reached a preliminary agreement on the key terms of a deal, which would inject fresh competition into the banking sector, with a n
  
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• UK house prices near 2022 peak after fifth monthly rise in a row

  07-03-2024 09:56
  
  Halifax says prices grew by 1.7% on an annual basis with the average UK house now costing £291,699Business live – news and updatesCornish village where 52% of houses are not first homesThe average UK house price is now just £1,800 off the peak recorded in June 2022 after it increased by 0.4% in February, marking the fifth monthly rise in a row, according to Halifax.Property prices grew by 1.7% on an annual basis, compared with 2.3% the previous month, the building society said.
  
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• BT cut off my landline out of the blue and ignored my protests

  07-03-2024 08:00
  
  Widow who depends on wifi to order medication and grocers was disconnected in the autumnI’m at my wits’ end trying to understand how my BT landline and wifi can be cut off without the company receiving any instructions from me.I’m a 79-year-old widow living seven miles from a town and depend on wifi to order medication from the GP, groceries and many other things. Continue reading...
  
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• ‘We’ll be £1,500 a year better off’: parent reacts to child benefit tax changes in budget

  07-03-2024 06:00
  
  Family will no longer have to repay all of benefit – while a keen saver says he is interested in the British IsaJeremy Hunt raises income threshold for tax penaltyThe chancellor’s budget on Wednesday brought changes to the high-income child benefit charge and details of a new British Isa for savers. We spoke to a parent who is now paying the charge and an investor to get their reactions to the announcements. Continue reading...
  
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