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Company car tax confusion, says Halifax

According to a survey by the NOP on behalf of the Halifax, just over half of all adults either do not realise that company car tax is now based on emissions rather than the number of miles clocked up or they are surprised at the rules.

The survey also includes a warning for the taxman with a suggestion that existing company car drivers might give up their perk if taxes continue to rise.

The Inland Revenue has said in the past that it expects the emissions based tax system will mean more people getting company cars as a perk. However, the survey indicates that this may not be the case and that most company car drivers would consider giving up their vehicles if taxation became too high.


Lenders are not buying buy-to-let downturn

Mortgage Express has doubled the size of its maximum buy-to-let loans to £2m – a clear sign that lenders believe fears of a buy-to-let downturn are unfounded. The increase acknowledges the rising cost of property, particularly in the south east. Mortgage Express is confident about the future of buy-to-let after its own research found nearly […]

Retail sales to cool still further after the bank holiday, says cebr

Yesterday&#39s figures for the volume of retail sales in July showed an annual growth rate of 4.5%, the lowest since January 2001, the cebr says. This seems to be further evidence that the consumer boom, which has been largely sustaining economic growth, may be finally starting to cool off, but at least this weekend looks […]

Finances: Nine out of ten people influenced by parents

Birmingham Midshire&#39s &#39Saving Britain 2002&#39 campaign says that almost nine out of ten Britons (88%) claim their financial habits and decisions as adults are influenced by what they learnt from their parents as children. At a time when financial exclusion, personal finance education and money management skills are hot topics on the Government&#39s agenda, the […]

DTI ends Rule of 78

Rules that often penalise consumers who settle loans early are to be scrapped through new proposals announced today by Consumer Minister Melanie Johnson. Johnson will outline plans to change the &#39Rule of 78&#39 (Consumer Credit Act 1974) – a formula which lenders use to calculate how much consumers have to pay when they settle a […]

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Preparing for the changes to the pensions market

As more and more providers start to reveal their stance on the charge cap and removal of commission and active member discount pricing, we thought it would be worthwhile to look at what these are, and the steps businesses should be taking to prepare for this.


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