Financial news

• Taxing the rich could solve many problems. Why is it so difficult? | Phillip Inman

  27-07-2024 18:00 via theguardian.com
  
  Making billionaires pay their fair share into state coffers would allow Starmer’s government to effect real change, but soaking the rich is a hard sell for votersRachel Reeves will this week lay out the full cost of Conservative party economic neglect. Initial findings, according to Labour briefings, put the cost of the repair job at about £20bn, though there is also a strong hint that the final bill, when it is announced on Monday, will be much higher.The exercise is a chance for th
  
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• Interest rate cut hopes soar as FTSE surges and traders bet on Autumn date

  27-07-2024 15:32 via express.co.uk
  
  A rates cut would bring relief to thousands of mortgage holders.
  
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• ‘Cliff edge’ deadline for UK digital visas still leaves 4m at risk of losing rights

  27-07-2024 13:30 via theguardian.com
  
  Home Office urged to extend year-end date for expiry of biometric residence permits after postponing eVisas rolloutThe controversial rollout of digital visas for non-EU migrants has been delayed, but without any change to the “cliff edge” year-end deadline. This leaves more than 4 million UK residents facing a race against time to avoid effectively becoming undocumented migrants. Having said people would be able to apply to access the new “eVisas” from June, the Home Offi
  
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• Pensions saver hit with tax relief problem as HMRC issues guidance

  27-07-2024 13:28 via express.co.uk
  
  A taxpayer wrote to HMRC to claim their tax relief.
  
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• WASPI women issue promising latest state pension update as meeting with government set

  27-07-2024 11:40 via express.co.uk
  
  EXCLUSIVE: The new pensions minister has agreed to a meeting with the campaigners.
  
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• Eye-popping and under pressure: a unique London fashion street’s struggle

  27-07-2024 11:00
  
  Fonthill Road has almost 100 clothes shop and a huge ethnic mix but rent rises and restaurant chain expansion mean change is on the wayThere is oodles of lace, glinting diamante and enough sequins for several series of Strictly Come Dancing: no, it’s not the Met Gala but an unassuming street in north London where a quiet battle is under way to protect a hidden fashion treasure.Almost 100 fashion stores, with names such as Bien Avenue, Cinderella and the sadly now defunct FFUK (short for Fa
  
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• Buying British: can Labour’s defence policy really help UK industry?

  27-07-2024 11:00
  
  Questions over whether plan to spend billions on weapons will work as a tool to spur economic growthEven in a room full of generals from around the world decked in military braid, the arrival of the prime minister causes a stir. At the Farnborough international airshow this week, knots of advisers and armed police surrounded Keir Starmer as he walked through the stalls, occasionally allowing a favoured chief executive or a nervous apprentice into the inner circle.A few words with the prime minis
  
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• DWP sends out Universal Credit letters as Martin Lewis warns ‘don’t ignore’

  27-07-2024 10:53 via express.co.uk
  
  The DWP is sending out letters to millions of people as Martin Lewis has warned you could lose benefits if you ignore it.
  
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• NS&I warns Premium Bonds saver their Bonds may not be eligible for prize draw

  27-07-2024 10:29 via express.co.uk
  
  Each £1 Bond that goes into the monthly draw has an equal chance of winning a prize.
  
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• Insurance costs are soaring – so here’s how my family cut them

  27-07-2024 10:00
  
  Tips and tricks for getting the best deals when renewing home insurance and car coverWatchdog urged to clamp down on ‘abysmal’ claims handlingHouseholds facing 100% increases to their car insurance premiums and 25%-plus rises to home insurance renewals may well be able to slash the price by shopping around and using a couple of other tricks.How do I know this? I’ve just done it – several times. Continue reading...
  
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• 'I'm a money expert - make this one change today and you're sure to save cash'

  27-07-2024 10:00 via express.co.uk
  
  MoneyMagpie's Vicky Parry says one lifestyle change could transform your financial situation.
  
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• How to beat Labour tax raid by taking state pension out of your £12,570 personal allowance

  27-07-2024 10:00 via express.co.uk
  
  More than nine million pensioners will pay income tax this year, many for the first time. Yet there's a way of fighting back by taking your state pension out of the equation.
  
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• Martin Lewis MSE issues £3,000 fine warning over 'red line' on HMRC letter

  27-07-2024 09:59 via express.co.uk
  
  HMRC is sending out letters to people on certain benefits but you could get a £3,000 fine if you have a red line on it.
  
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• Robots sacked, screenings shut down: a new movement of luddites is rising up against AI | Ed Newton-Rex

  27-07-2024 09:00
  
  Company after company is swallowing the hype, only to be forced into embarrassing walkbacks by anti-AI backlash Earlier this month, a popular lifestyle magazine introduced a new “fashion and lifestyle editor” to its huge social media following. “Reem”, who on first glance looked like a twentysomething woman who understood both fashion and lifestyle, was proudly announced as an “AI enhanced team member”. That is, a fake person, generated by artificial intellige
  
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• TikTok’s appeal should be thrown out, US justice department tells court

  27-07-2024 08:19
  Officials insist China-based owner ByteDance must separate from its short video app in the US because it is a threat to national security and citizens’ dataThe US justice department has asked an appeals court to reject legal challenges to a law requiring China-based ByteDance to divest itself of TikTok’s US assets by 19 January or face a ban.TikTok, parent company ByteDance and a group of TikTok creators have filed suits seeking to block the law, which could ban the app used by 170 m
  
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• Savers urged to lock in best deals before UK interest rate decision

  27-07-2024 08:00
  
  With Bank of England meeting on 1 August, people are advised to take advantage of top-paying accounts nowExperts are split on whether there will be a UK interest rate cut on Thursday but most agree on one thing: savers should “act now” to lock into the best rates while they are still available.All eyes will be on the Bank of England’s monetary policy committee when it meets on 1 August, although while some believe we could see it announce the first base rate cut in more than fo
  
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• Insurance: UK watchdog urged to clamp down on ‘abysmal’ claims handling

  27-07-2024 08:00
  
  Stories from ‘ripped off’ customers lead Which? to call for ‘meaningful action’ against firms that fall shortInsurance costs are soaring – here’s how my family cut themThe consumer group Which? this week called on the regulator to clamp down on insurers that have been “ripping off” consumers with “abysmal” claims handling.Having surveyed how customers have fared at the hands of insurers over the past three years – and unearthed so
  
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• Inheritance tax panic as families gift billions to escape Labour autumn Budget raid

  27-07-2024 08:00 via express.co.uk
  
  Families are rushing to gift wealth to loved ones as they fight back against the relentless rise in inheritance tax bills.
  
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