Archive for 04/2012

Black Friday saved by the eccount

Eccount money's Will Thomas has stressed that switching to an eccount provides households with a powerful support tool against the averse impact of "Black Friday". The term refers to the radical cuts in tax benefits for many part-time workers and low-income households in the UK which have come into effect in the new tax year.

How would Black Friday affect me?

As part of these changes, low to middle income couples whose weekly workload is below twenty-four hours may stand to gain a bit from increases to personal tax allowances, but could potentially loose thousands of pounds each year as a result of no longer qualifying for working tax credits. The effects could be disastrous: With the overall economy already in a slump, the risk of excessive debts and eventual defaults was constantly increasing and further compounded by the danger of widespread unemployment.

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