22/04/2009 by bill.

In today’s budget, the Chancellor announced that the Stamp Duty land tax threshold on residential properties costing £175,000 or less will be extended until 31 December 2009. It was due to end on 2nd September.

The measure is aimed at stimulating the housing market particularly for first time buyers.

Click here for more about buying a home

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22/04/2009 by bill.

In today’s budget, the Chancellor announced that the tax free amount anyone can invest in an Individual Savings Account each year will increase to £10,200 with the maximum in a cash ISA going up to £5,100.

The new limits will apply from April 2010 but will be available to the over 50s from September 2009.

Click here for more about investing in ISAs

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26/11/2008 by bill.

VAT was cut to 15% in the Pre-Budget Report to apply from 1st December but many big retailers have already implemented the cut.

These include Dixons Group Stores, i.e. Currys, Dixons and PC World, and Comet.

If you are shopping for expensive Christmas gifts before 1st December check that the price you pay has been reduced to take account of the VAT cut.

Christmas shopping tips from moneyjungle.net

Posted in VAT, Online shopping, The budget, Christmas shopping | Print | No Comments »

25/11/2008 by bill.

As expected, the pre-budget report yesterday turned out to be a full blown mini-budget. It included a cut in the main rate of VAT to 15%, help for the elderly and low paid and some help for small businesses. All these measures are designed to boost the UK economy and address the domestic and international economic crisis. The cost of the measures is some £18 billion and, taken together with falling tax revenues as the economy goes into recession, will result in significant increases in public borrowing which will have to be repaid through future increases in tax.

In the short term it seems we can expect further interest rate cuts making savings accounts less attractive at a time when the uncertainty in financial markets makes investors very nervous. Few investors are likely to invest in property until they see signs that property values have stabilised.

It is more important than ever that anyone looking to invest undertakes proper research and seeks independent financial advice.

moneyjungle.net is a good place to start with comprehensive guidance on what types investment are available in our Investing section. The moneyjungle.net Saving and Home Finance Section includes advice on savings accounts but also on finding a mortgage or personal loan, credit, charge and debit cards, managing personal credit and debt and how to save money on household bills.

For anyone looking to start or develop their own business see the moneyjungle.net Business Start Up section.

Anyone looking to change careers will find useful information in the moneyjungle.net Training and Personal Development Section.

Keep up to date at moneyjungle.net

Posted in The budget, Personal Finance, Savings, Investments, Finance | Print | No Comments »

10/07/2008 by bill.

Changes proposed by the government mean that some motorists will find that their rate of car tax is much higher in 2009 than in 2008. Others, with cars with low CO2 emissions will pay less or nothing at all!

Despit government claims that most motorists will pay the same or less than now, it seems that in prcatice there will be many more losers than winners. Even owners of popular family cars may find themselves paying more than the current rates.

To work out how much you will have to pay first check the CO2 emissions for your vehicle. Probably the quickest way to do this is to use the SMMT database. Then, to see what band your vehicle will fall into go to the DirectGov website.

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Posted in The budget, Car tax | Print | No Comments »