UK economic growth rises to 0.7% in second quarter
The Office for National Statistics (ONS) has reported that the UK’s economy has risen to 0.7% growth, bringing the country back to its pre-recession peak.
The Office for National Statistics (ONS) has reported that the UK’s economy has risen to 0.7% growth, bringing the country back to its pre-recession peak.
According to the latest Lloyds Bank Spending Power report, consumer confidence is at the highest level recorded for almost five years, even though those aged between 18 and 24 are less optimistic about their financial situation.
In its latest move to crackdown on tax evaders, HM Revenue and Customs (HMRC) wants to collect information from internet companies like Ebay and Paypal, to create a database of British users that have generated income from selling online.
Banks and building societies will be named and shamed if they pay the lowest savings rates as the City watchdog looks to highlight firms that pay poor interest to longstanding customers.
George Osborne has launched his spending review with a call for £20bn cuts to Whitehall budgets.
Approximately 10,000 accelerated payment notices (APNs) were served by HMRC to people using tax avoidance schemes, according to an annual report from the tax authority for the 2014/15 financial year.
The Bank of England’s governor, Mark Carney, has indicated that a base rate rise is looking increasingly likely to happen, and potentially as early as December.
The UK government has sold 10 percent of Lloyds Banking Group in the past five months through its trading plan, reducing its stake to less than 15 per cent.
Following tax changes included in the latest Budget, self-employed contractors that use personal service companies, in order to pay less tax, will soon be charged accordingly.
Apple Pay launched in the UK without the participation of most of the major banks, including HSBC, which was listed as a launch partner.
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