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Featured - ISA allowance
What is the 2024/25 ISA allowance?A new tax-year means a refreshed ISA allowance to allocate. Find out more about the 2024/25 ISA allowance...
Savings
ISAs
Mortgages
Buy to let
Specialist mortgages
Featured - Debt and your credit score
How debt impacts your credit scoreA healthy credit score has its benefits, so make sure you manage your debt correctly.
Loans
Featured - travel insurance
Travel insurance 2024Discover the best travel insurance policy for your next trip.
Home & vehicle
Health & travel
Featured - High interest current accounts
Find current accounts offering in-credit interest rates up to 5.00% AER.
Current accounts
Featured - Purchase Cards
Best purchase credit cardsExplore the best cards with a 0% introductory period.
Credit cards
Credit repair
Calculators & guides
Featured - The triple lock explained
Could the value of your state pension rise by more than inflation?
Retirement
Business savings
Business products
Business insurance
How much can I give as a cash gift?
How much can I give as a cash gift?Will your loved one's gift be tax affected?
Categories
Featured guides
Popular news
Latest news - by category
Other money & finance news
Featured Star Ratings categories
Other Star Ratings categories
During this afternoon’s summer statement, Chancellor Rishi Sunak announced a new ‘eat out to help out’ discount for consumers, which will give them 50% off meals eaten out during August on Mondays to Wednesdays to a maximum of £10 per head.
Restaurants looking to take part in the new discount scheme will have to register with the Government. They will be able to claim the money back from the discount and the Chancellor stated that they will receive the refund within five working days.
To further help encourage consumers to spend on food, accommodation and attractions, the Chancellor announced that the Government was cutting VAT on these products and services from 20% to 5%. The 5% VAT will start from Wednesday 15 July 2020 and will last for six months.
During the statement, the Chancellor also confirmed a temporary stamp duty threshold increase to £500,000 in England and Northern Ireland. This stamp duty cut comes into effect immediately and will last until 31 March 2021.
To find out what stamp duty has to be paid on a property, buyers can use our stamp duty calculator.
To help reduce the risk of long-term unemployment among young people, the Chancellor revealed the Government’s kickstart scheme. This scheme will pay businesses the wages and overheads of any employees they take on who are aged 16-24 and at risk of long-term unemployment. The jobs provided must offer a minimum of 25 hours per week paid at least at the National Minimum Wage. The Chancellor stated he expected the first employees under this scheme to start work in October 2020.
The Chancellor also stated that the Government will pay employers £1,000 to take on new trainees. As well as this, to encourage more apprenticeships, the Government will give companies £2,000 per apprentice recruited, with £1,500 given to companies recruiting apprentices aged 25 or over.
In the week leading up to the statement, the Chancellor disclosed a number of initiatives the Government would implement to help the economy recover from the Coronavirus pandemic. These include:
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The Financial Conduct Authority is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
The FCA is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
Are the new rules enough to attract high quality companies to the UK?
Are the new rules enough to attract high quality companies to the UK?
With the UK General Election taking place later this week (Thursday 4 July), we examine how some of the main parties’ policies could affect your personal finances if they were to form the next Government.
Find out what the Conservative and Labour Parties have planned for your taxes, savings and pensions.
The Financial Conduct Authority is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
The FCA is set to extend Consumer Duty rules to closed products and services from the end of this month, but savers shouldn’t be complacent.
Are the new rules enough to attract high quality companies to the UK?
Are the new rules enough to attract high quality companies to the UK?
With the UK General Election taking place later this week (Thursday 4 July), we examine how some of the main parties’ policies could affect your personal finances if they were to form the next Government.
Find out what the Conservative and Labour Parties have planned for your taxes, savings and pensions.
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Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.
Moneyfactscompare.co.uk will never contact you by phone to sell you any financial product. Any calls like this are not from Moneyfacts. Emails sent by Moneyfactscompare.co.uk will always be from news@moneyfacts-news.co.uk. Be ScamSmart.