N🟁N

Money blog: HMRC issues tax clarification - as Vinted and eBay to start sharing seller information with tax man

The article from Sky News discusses various financial and consumer-related updates in the UK. Key points include: the Bank of England's decision to maintain interest rates at 5.25%, despite inflation falling to 3.9%, which is still above the target of 2%. This decision reflects ongoing concerns about inflation and economic stability. Additionally, there's a mention of a significant drop in UK house prices, with Halifax reporting a 1% decrease in December, marking the largest annual fall since 2011. The article also touches on consumer behavior, with a noted increase in spending on experiences like travel and dining out, as people adjust to the cost of living crisis. Furthermore, there are updates on energy prices, with Ofgem announcing a new price cap, and discussions on the potential impact of the upcoming general election on economic policy. Lastly, there's a brief on the rise of 'shrinkflation' where product sizes decrease while prices remain the same or increase.

Read the Full Sky Article at:
[ https://news.sky.com/story/money-latest-personal-finance-consumer-live-13040934 ]