£6bn lost on cancelled holidays
With a recent study revealing that over £6 billion was lost last year through people cancelling holidays they have already booked, Britons have been reminded of the importance of taking out a comprehensive travel insurance policy.According to the insurer More Than, who released the findings, while many people book their holidays well in advance, many fail to take out insurance and therefore leave themselves vulnerable to losing money spent on booked travel and accommodation should their plans change.Of all the claims made through More Than's travel insurance service last year, 26 per cent were for the cancellation of holidays, with an average cost of £856.Commenting on the findings, the company's head of travel insurance, Keira Clark, said: "It's encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don't realise that by purchasing their policies late, they miss out on valuable cancellation cover."The comments come soon after British holidaymakers were advised to make sure their building insurance is up-to-date before going away, in the event of leaking pipes and water damage.
MP’s call for HMRC to take action over tax avoiders
18/11/2014 MP’s have criticised HM Revenue & Customs (HMRC) for not acting quickly enough when it comes to action against tax avoiders. The Public Accounts Committee believes the HMRC is taking “unacceptably slow” action, and believe they “must do more, faster”. They are calling for HMRC to take a more active role in preventing tax avoidance schemes, as it comes to light that up...Read More
GDP slip prompts UK economy pessimism
Britain's economy did not grow as quickly as had been estimated in the final quarter of 2006.UK GDP fourth-quarter growth was 0.7 per cent, 0.1 per cent less than previous estimates, according to figures from the Office for National Statistics (ONS).This meant total GDP growth in 2006 reached 2.8 per cent, driven by consumer spending.Richard Snook of the Centre for Economics and Business Research...Read More
Northern Rock Set To Announce Losses Of £500 Million?
While there has been a number of more positive financial stories in the press of late with regards to the mortgage sector, the latest rumours surrounding Northern Rock are suggesting that the group could soon announce losses of £500 million. The rumour mill seems to be in full swing because as well as supposedly set to announce a record loss the bank will also confirm that 'just' £19 billion of...Read More
Is Tiscali doomed to failure?
Broadband giant Tiscali is said to be on the verge of collapse this evening with auditors Ernst & Young unwilling to sign off the 2008 accounts. Shares in the company were suspended some time ago as talks regarding the sale of the UK broadband arm collapsed and the group was faced with a debt mountain of over £450 million. Unable to keep up repayments the company agreed to a suspension of the sha...Read More
Stocks and Shares ISAs outperform Cash
30/04/2014 Research has revealed that investors with a ‘Stocks and Shares ISA’ (Individual Savings Account) have benefitted from much more growth in their savings than those with ‘Cash ISA’ in recent years. According to Moneyfacts, the average growth of a Stocks and Shares ISA in the 2013/14 tax year was 9.42%, with some investments performing even better. For example, the best perfo...Read More