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The growing debt crisis in the UK is starting to hit home, literally. UK: A Nation In Debt
The summer floods may be starting to dry up, but this great nation of ours is still drowning in a sea of debt, with a massive eight million Britons being the proud owner of more than £10,000 of debt.
That’s according to debt consultancy firm, Thomas Charles, who estimate that 18 per cent of people in the UK have managed to rack up unsecured debts of ten grand or more, with debt on credit cards and store cards largely to blame for the figures. Men were found to have a higher debt burden, with 13 per cent owning more than £15,000 compared to 11 per cent of women.
Taxman Takes A Beating From Mr And Mrs Jones
The nation's favourite baddie, the taxman, took a right beating after the law lords approved a tax saving arrangement used by thousands of the nation's small businesses.
IT consultant Geoff Jones, along with his wife, Diana, had decided to take on the might of HM Revenue and Customs after the 50-year-old Jones was sent a £42,000 back tax demand in 2003.
The Government may be trying to decrease the numbers of motorists who avoid tax, but as with much of what New Labour does – it just isn’t working.Hardy Time: Council Tax Pensioner Off To Jail
Not content with sampling life behind bars once already, pensioner Sylvia Hardy, 75, is facing a second jail term over non-payment of nearly £800 in council taxes.
The crusading OAP told magistrates that her bill had increased by 100 per cent in 10 years, far ahead of her pensions.
Hardy is expected to be sent to crown court.
John Puts The Cats Among The Pidgens On Couincil Tax
Poor old John Pidgen. All he was trying to do was right an injustice and fight an unfair system. Yet the 69-year-old has upset the neighbours.
The pensioner, who lives in Portslade, East Sussex, had discovered he was paying more council tax than his neighbours living in identical homes and decided to protest to the local council that he was paying over the odds.
London Councils Plan 10p Plastic Bag Tax
Consumers will be forced to pay a 10p tax on plastic bags under new plans proposed by a coalition of 33 councils in London. The plans have angered retailers who see it as nothing more than a token gesture, considering that carrier bags make up only a fraction of the plastic waste dumped every day. However, in the Republic of Ireland, where a similar tax was introduced a number of years ago, it is claimed that the number of plastic bags handed out was cut by an incredible one billion.
Have you seen Jamie Oliver recently? The self-styled champion of healthy eating looks to have put on rather a few pounds himself. I wonder if his mother is feeding him burgers and chips through the railings outside his restaurant?Lib Dems Plan Tax Cut Comeback
The radical plans would see the rate cut to 16p in the pound while the shortfall, according to the nation’s third party, would be met by green taxes and a tightening up of tax relief for the very wealthy.
Stamp Duty Tax Grab
Check out the Daily Mail’s piece on stamp duty and you will be greeted by a photograph of an extremely handsome couple smiling at you as they smugly dangle house keys in your face.
They don’t look like they are handing you the keys, rather taunting you. And for many wannabe first-time buyers, this is as close as they’ll actually get to owning a home of their own, as new research puts the cost of stamp duty at £1,500.
One Million Hit By Taxman Errors
Make sure to check just how much income tax you are paying, as our old friend the Taxman is back in the news, but this time for making quite a large hash of income tax collection.
According to the National Audit Office, HM Revenue and Customs calculated the tax correctly in 95 per cent of cases in the 2006/07 tax year. However, that still left one million people paying the wrong amount of tax, with £125million uncollected and a massive £157million overpaid.