Did you know you could be missing out on a little-known council tax rebate that slashes your bill by a quarter? Many will be aware of the single person discount - where the sole adult occupier gets a cheaper rate - but what's lesser known is the 'second adult rebate', which could reduce your bill by a further 25 per cent. How does it work? The amount anyone pays in council tax is based on a two-adult household, which is why people living by themselves receive the 25 per cent discount, as only they are liable for the tax. But if more than one adult lives in a property, it is possible the discount can apply to them too. Want to get the latest personal finance news direct to your inbox? Sign up for our daily Money newsletter HERE So who qualifies? If only one person in the household is responsible for paying the council tax bill but has other adults living with them, then this is where the 'second adult rebate' comes into play. If you would like to apply … [Read more...] about Make a massive saving on your council tax bill with this little-known rebate tip
Low income tax help
Sinema took Wall Street money while killing tax on investors
This is a carousel. Use Next and Previous buttons to navigate 5 WASHINGTON (AP) — Sen. Kyrsten Sinema, the Arizona Democrat who single-handedly thwarted her party’s longtime goal of raising taxes on wealthy investors, received nearly $1 million over the past year from private equity professionals, hedge fund managers and venture capitalists whose taxes would have increased under the plan. For years, Democrats have promised to raise taxes on such investors, who pay a significantly lower rate on their earnings than ordinary workers. But just as they closed in on that goal last week, Sinema forced a series of changes to her party’s $740 billion election-year spending package, eliminating a proposed “carried interest” tax increase on private equity earnings while securing a $35 billion exemption that will spare much of the industry from a separate tax increase other huge corporations now have to pay. The bill, with Sinema's alterations … [Read more...] about Sinema took Wall Street money while killing tax on investors
What more can UK do to solve energy crisis – and what is being done in other countries
Consumer champion Martin Lewis yesterday called rocketing energy prices a “national crisis” comparable with the Covid pandemic - as the out-of-touch Tories faced urgent demands to act. Meanwhile, campaigners warned soaring bills could trigger a wave of deaths and an “epidemic” of people disconnecting themselves from heating and power. Experts predict a jump in its energy price caps will see an average dual-fuel standard tariff energy bill jump from already hefty £1,971 a year to £3,582 - an 82% leap. Consultants Cornwall Insight this week predicted the cap will jump to an average £4,266 in January, then £4,426 a year next April. Martin Lewis said energy price rises are a 'national crisis' ( Image: INstagram/@martinlewismse) But what more can the UK do to tackle the crisis? Cut VAT on energy bills Would it help? - The Government has long resisted calls to ditch the 5% rate of VAT on domestic energy bills. Doing so could cut £180 off the average estimated … [Read more...] about What more can UK do to solve energy crisis – and what is being done in other countries
Ofgem price cap explained as families warned bills could rise to £4,200 this winter
Families have been warned that the energy price cap could hit £4,200 this winter as the cost of living crisis continues to deepen. Consultancy firm Cornwall Insight is predicting that energy bills will hit £3,582 a year for the average household from October. This is up from the £3,359 estimated earlier this month after Ofgem confirmed it is changing how often it reviews its price cap. The price cap is expected to hit £4,266 in January before continuing to rise in April to £4,427. The previous forecast was for £3,729 in April. Are you worried about rising energy bills? Let us know: [email protected] Energy bills have already shot up for millions of households across the UK after Ofgem hiked the April price cap to just under £2,000. The price cap for those on default tariffs paying by direct debit increased by £693 from £1,277 to £1,971. This marked an eye-watering rise of around 54% as the UK continues to struggle against a cost of living … [Read more...] about Ofgem price cap explained as families warned bills could rise to £4,200 this winter
Congress OKs Dems’ climate, health bill, a Biden triumph
By ALAN FRAM WASHINGTON (AP) — A divided Congress gave final approval Friday to Democrats’ flagship climate and health care bill, handing President Joe Biden a back-from-the-dead triumph on coveted priorities that the party hopes will bolster their prospects for keeping their hold on Congress in November’s elections. The House used a party-line 220-207 vote to pass the legislation, which is but a shadow of the larger, more ambitious plan to supercharge environment and social programs that Biden and his party envisioned early last year. Even so, Democrats happily declared victory on top-tier goals like providing Congress’ largest ever investment in curbing carbon emissions, reining in pharmaceutical costs and taxing large companies, a vote they believe will show they can wring accomplishments from a routinely gridlocked Washington that often disillusions voters. “Today is a day of celebration, a day we take another giant step in our momentous agenda,” said House Speaker Nancy … [Read more...] about Congress OKs Dems’ climate, health bill, a Biden triumph
The Inflation Reduction Act is about to become law. What it will do for Californians
The Inflation Reduction Act is headed to President Biden’s desk. The House approved the bill , a pared-back version of the original Build Back Better legislation, Friday afternoon, with all 220 Democrats voting for it and 207 Republicans voting against it. Now that the approximately $700-billion package is set to become law, what will it mean for you? Here’s a look at how the bill’s provisions could impact Californians. Healthcare California stands to gain the most from several of the bill’s healthcare provisions because it has the largest number of potential beneficiaries. For starters, the bill would continue for three years the extra premium subsidies for Affordable Care Act insurance policies that last year’s American Rescue Plan inaugurated. Those subsidies — which amounted to $1.7 billion a year for California alone — dramatically lowered premiums for more than 1 million Californians, including middle-income consumers who had not been eligible for aid … [Read more...] about The Inflation Reduction Act is about to become law. What it will do for Californians
What you’d get in Rishi Sunak’s 3-part cost of living payments – and why it’s ‘not enough’
Rishi Sunak has unveiled a “three-part plan” to help Brits pay energy bills which could soar as high as £5,300 a year. The Tory leadership hopeful admitted he might need billions in borrowing to pay for the help, despite attacking Liz Truss for putting debts on the nation’s “credit card”. His help would be “in the region of £400 or £500” on top of existing payments, Mr Sunak said today, through benefits, Winter Fuel Payments for pensioners, and support for everyone via a £200-per-home VAT cut. It’s the most detailed plan yet from either of the two candidates - but Money Saving Expert Martin Lewis says it’s not enough, and Mr Sunak isn’t the favourite to be PM anyway. Rishi Sunak's help would be “in the region of £400 or £500” on top of existing payments ( Image: NEIL HALL/EPA-EFE/REX/Shutterstock) Meanwhile an Auxilione forecast predics the price cap on energy bills could reach £3,628 in October, from £1,971 today. It could then rise to £4,538 in January and … [Read more...] about What you’d get in Rishi Sunak’s 3-part cost of living payments – and why it’s ‘not enough’