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Money Box: Barclays overdrafts

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12/04/2014

Barclays overdrafts

BBC Radio 4 - Money Box, Barclays overdrafts

Paul Lewis asks how much the new Barclays overdraft will cost.

Paul Lewis asks how much the new Barclays overdraft will cost. Are the news ISAs better than pensions? And the new rules being proposed on capital gains tax on second homes.

Over-the-top-drafts
Barclays is changing its overdraft charges, moving away from a high percentage on the money owed to a daily fee. The result will be it is as cheap to borrow £1000 as £100. And the cost of borrowing £16 for a month will be a staggering 4,749,271.5% APR. What will Barclays say to us?

Flipping heck
The Government is consulting on changing the rules about Capital Gains Tax charged on a second home. Your main home (known as a Principal Private Residence or PPR) is exempt from CGT when it is sold. But there is no such exemption for a second home. At the moment owners of a second home can nominate which is the main home and which the second. There are constraints but often the freedom can be used to avoid or reduce CGT. But now the Government says that may change.

Alien vs Predator
It's the classic battle between two powerful tax avoidance forces - Pension vs New ISA. Which is stronger and who will save your financial world? Spreadsheets out, round one.

The Intangibles
PayPal is no longer inflexible about making intangibles ineligible. Its indefensible policy is infeasible and invertible. A change is incontrovertible, ineludible, and irreversible. But is what it is doing inducible? Find out.

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