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| Using more than one credit card – including individual store cards – can quickly become expensive and confusing as rates and fees vary wildly. However, credit card balance transfers can help to make debts more manageable. |
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| Value Added Tax is a tax payable by any taxable person or business on sales income unless exempted or zero rated when the annual level of sales reaches the vat threshold limit, raised to £64,000 p.a. from 1st April 2007. Vat output tax is payable on total sales whether a business has registered for vat or not. Register for vat when the vat threshold is reached to enable vat input tax to be reclaimed and minimise vat liability with a vat scheme. |
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| Being Self Employed in the UK carries with it responsibility to sort out your own tax affairs, the first tax tip is to maintain good records of the business income and expenses to minimise tax liability. With tax rates of up to 40%, tax is an essential area to achieve a degree of competence. |
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| The "confidence crisis" surrounding the UK pensions sector is deepening, it has emerged. According to Alliance Trust's annual retirement confidence index (RCI), the gap in those failing to put money away for later life is rising as some 26 per cent of consumers are currently without any form of pension - up from 20 per cent noted last year... |
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| Proposals by the Financial Services Authority (FSA) to make personal finance a compulsory part of school education have been welcomed. Today John Tiner, chief executive of the FSA, claimed that by ensuring young people have "basic levels of financial competence" they could be able to develop a better knowledge of monetary products such as personal loans and savings as they progress through life... |
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| HMRC enquire into approximately 75,000 self assessment tax returns each year. Most tax enquiries result in extra tax being payable because business turnover has been understated or non allowable business expenses have been claimed, resulting in interest and penalties on the extra tax for that year and sometimes previous years and a higher tax rate. These frequently asked questions can help avoid interest and penalties with a few tax tips. |
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| For many students in the UK, debt is a simple fact of life that must be faced and managed accordingly. But its how this debt is managed that will be key to financial security for many years after graduation. |
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| Most people in the UK are now aware of the serious threat of identity theft and the dire consequences. This happens when criminals get access to enough of someone else’s personal information to assume their identity. The effects of identity theft can be severe; the victim’s credit status will be affected, and it will take weeks or maybe even months for it to be restored to its original status. |
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| If you are finding it impossible to work your way out of a debt trap then get a bad credit debt consolidation company to help you out. Many companies offer free quotes and counselling services to help you get out of debt faster. Once you make a whole hearted attempt to get out of debt then chances are your credit rating will increase allowing you to be approved for loans in the future. |
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To SIPP Or Not To SIPP? - More Pension Options Explained
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