MONEY MORSELS
Fraud fightback
THE taxman has launched a fraud hotline. Members of the public can call 0800 788 887 any day between 8am and 8pm to alert HM Revenue & Customs to report tax evasion, National Insurance and VAT fraud, and failure to pay the minimum wage. Or report online at gov.uk
Pension top-up
TODAY is the last chance for people aged 64 and over to top up their state pension. Men born before April 6, 1951, and women before April 6, 1953, can pay a lump sum to earn up to £25 extra a week. Log on to:
gov.uk/state-pension-topup One-stop savings
ANOTHER six firms have signed up to a service that will allow savers to see all their pensions in one place. From 2019, savers will be able to set up Pensions Dashboard accounts online and view how much they have in company, personal and state pensions. Abbey Life, Fidelity, Legal & General, Scottish Widows, Phoenix Life and Prudential are the latest to agree to take part.
Housing crisis
HOUSING in England last year was the least affordable it has ever been, according to an official study. An average home cost 7.72 times a worker’s average annual earnings in 2016 — up from 7.52 in 2015. In 1997 it was just 3.54, reports the Office for National Statistics.
Flight taxes
A TAX paid by airline passengers will rise from today. Air passenger duty pays for the environmental costs of flying and is charged on every flight leaving the UK. It is rising in line with RPI inflation, from £73 to £75 for long-haul economy flights and £146 to £150 for first-class. Short-haul flights within Europe will remain at £13.
Subscription trap
PEOPLE with mental health problems are more likely to be trapped by expensive subscriptions they can’t get out of. The Money and Mental Health Policy Institute is backing a government clampdown on companies that lure people in with free trials that lead to costly monthly contracts which are difficult to leave. It says 71 pc of people with mental illness bought items on subscription, compared with 58 pc without.
Penalty-free loans
NATIONWIDE Building Society has stopped charging borrowers a penalty to repay a personal loan early. The average customer will save £ 70 in charges, it says. Around seven in ten Nationwide loan customers clear their debt before the end of the loan term.
Cashback blunder
THOUSANDS of Halifax credit card customers could be in line for a £100 payment after the bank failed to pay cashback on purchases for several years. Halifax says around 1.5 pc of its Clarity credit card holders are affected and some have already been refunded.