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In this issue - April 2013
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Budget 2013 at a glance: 10 key points
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Budget 2013: Survival guide
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The budget: giving, taking - but not growing
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Rates double for thousands of mortgage customers
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The interest-only time bomb that must be defused
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Unhappy returns on with-profits
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The ten best money-saving websites
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Your five-minute guide to ... annuities shake-up
Cyprus bailout deal reached
Eurozone finance ministers have agreed a euro 10bn bailout deal [on
March 25] for Cyprus to prevent its banking system collapsing and
keep the country in the eurozone. Laiki (Popular) Bank - the
country's second-biggest - will be wound down and deposit-holders
with more than euro 100,000 ($130,000; £85,000) will face big losses.
However, all deposits under euro 100,000 will be "fully guaranteed".
Tax enquiry centres to close
HMRC is to close all of its 281 enquiry centres in 2014. The
centres, which gave face-to-face help to 2.5 million people with tax
queries last year, will be replaced by a telephone service and home
visits.
Blind person's allowance
The blind person's allowance will rise to £2,160 in the 2013/14 tax
year. It is currently £2,100.
Mortgage lending down
Newly released mortgage figures reveal an 8% slump in lending for
home buying between January and February. The Council of Mortgage
Lenders said total gross mortgage lending declined to £10.5bn in
February compared to £11.4bn in January. However, it said the figure
was 1% up on the £10.4bn recorded in February 2012. The fall in
lending comes despite the government's £80bn Funding for Lending
Scheme, which is designed to ease borrowing for first-time buyers and
small businesses.
Pulling plug on cold calls
Tougher action is needed to stop people being plagued by firms
pushing them to make payment protection insurance and personal injury
claims, campaigners say. Which? found that seven in 10 consumers have
been cold-called by companies in the past three months. The consumer
group urged regulators including Ofcom and the Office of Fair Trading
to set up a task-force to stop "intrusive and distressing" calls and
texts.
Equitable Life compensation
A new wave of pensioners who suffered from the collapse of life
insurance firm Equitable Life in 2000 are to be offered up to £10,000
each in compensation. The £45m payout will be funded using some of
the extra money raised through increasing national insurance payments
on members of defined benefit pension schemes. Policyholders who
bought with-profits annuity pensions before 1992 will receive
payments of £5,000 with an additional £5,000 offered to those on
lower incomes who receive pension credit.
Moneysaving tip of the month
Now the new 2013/14 tax year has started, every person over 16 in the UK can put £5,760 into a cash ISA - a tax-free savings account. Find out which offers the best rate by visiting the Moneysaving Expert website, which offers a regularly updated guide.