£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.
Cocoa trader moves market single-handedly
Anthony Ward, the UK financier, this week moved the cocoa market single-handedly with a deal worth in excess of £650 million. He now owns enough cocoa to produce 5.3 billion quarter pound chocolate bars and could single-handedly force chocolate bar manufacturers around the world to increase their prices. So who is Anthony Ward and why has he taken such a gamble? Rumoured to be worth in the reg...Read More
Is it helpful to cut employment numbers to save costs in the short term?
Over the last few weeks we have focused on the UK economy and in particular the ever-growing number of unemployed in the UK. Company after company have been announcing job losses and cost cuts to try and stabilise their businesses in the short to medium term and reduce their costs as much as possible. However, is there a danger that cost-cutting in the short term could lead to reduced consumer exp...Read More
Budget Headlines : Pension tax relief to be cut for those on over £150,000
Pension tax relief to be cut for those on over £150,000...Read More
Investments income targeted by HMRC
Taxpayers with investment income will be targeted by HM Revenue & Customs (HMRC) in spring 2009 in a new compliance campaign, a chartered accountancy firm has claimed.UHY Hacker Young discovered the plans from documents obtained under the Freedom of Information Act and said that more people than any previous campaign could be targeted.In the past, HMRC mainly focused on taxpayers with offshore acc...Read More
RDR ‘could deal Blow to Savings’
Tory MP, Howard Flight, has spoken out against the Retail Distribution Review which is planned to come into effect at the start of 2013. It is his view that it could have a damaging effect on savers within the UK, reducing the availability of financial advice. He also added that this would have a detrimental effect on the economy, by obstructing savings needed to pull the nation out of recessio...Read More