Latest news with #Opinium
The Independent
8 hours ago
- Business
- The Independent
Ticket fraud warning issued by bank as ‘Gen-Z adults most likely to be targeted'
People falling for ticket scams are losing £150 on average – with Gen-Z adults particularly likely to be targeted, a bank is warning. Barclays said that August can be one of the strongest months of the year for reports of purchase scams. One in six (17%) Gen-Z adults aged 18 to 27 said they had been caught out or coerced into paying for tickets that did not exist, slightly higher than Millennials (aged 28-43), at 16%, according to the Barclays Scams Bulletin. Gen-Z adults are also the most likely to know someone who has either fallen victim to or been targeted by a scam, at 23% compared with 19% for Millennials and 14% across all age groups across the UK. The bank's own scam claims data indicates that the peak months for purchase scams last year were April, closely followed by August. As fans seek out tickets for upcoming events, often through resellers, more than two-fifths (42%) of people surveyed said they feel more worried about falling victim to a scam than they did 12 months ago. Tickets scams often originate on social media, the bank said. Kirsty Adams, fraud and scams expert at Barclays, said scammers are 'ready to cash in on the hype' around concerts such as the Oasis tour. She said: 'Whether it's a once-in-a-lifetime concert or a sold-out summer sporting event, the rush to grab tickets can cloud judgment, which is why we're urging fans to pause for thought before they part with their money to avoid falling victim to opportunistic summer scammers. 'Social media platforms and online marketplaces provide a hotbed for these scams to take place.' Opinium surveyed 2,000 people in June and Barclays also used some of its own data on scams for the research. Here are Ms Adams's 'safe' tips for buying tickets: S – Stop and research Do your due diligence. Take a moment to check the website, read reviews, and confirm if tickets can be transferred or resold. Just a couple of minutes of research can prevent days of regret. A – Ask someone you trust Get a second opinion before buying. Speak to a friend or family member who might know the seller or website and see if it sounds legitimate to them. F – Flag unrealistic deals Be wary of unlikely offers. If the price seems too good to be true, it probably is. Question why the seller is offering such a discount and whether they are asking for unusual payment methods. E – Ensure secure payment Always use a credit card or another secure payment method. This gives you added protection if something goes wrong with your purchase.
The Independent
3 days ago
- The Independent
Money experts warn of the costly mistake holidaymakers fall victim to
Holidaymakers risk unexpected expenses by relying solely on card payments abroad, with new research revealing that more than a third have found themselves caught out needing physical cash. Specifically, 39 per cent of those surveyed by the website Be Clever With Your Cash reported encountering unexpected situations where physical money was essential during their travels. The research highlighted that the most frequent instances requiring cash involved tipping, paying for taxi journeys, and shopping at smaller, independent retailers. Prepaid and specialist travel cards can make it easier to rely less on physical cash while travelling overseas. But those suddenly needing that cash could end up paying extra costs, the survey carried out by Opinium, among 2,000 people across the UK who have travelled abroad, indicates. The research found some people who had to make an emergency cash machine withdrawal on their last trip overseas were charged an ATM fee. Some people also said they turned to airport exchange desks for last-minute cash, even though they may potentially be getting a worse deal than if they had shopped around for their travel money and planned ahead. The website said that stepping outside major cities can also present challenges, as rural and remote areas in some countries could be less likely to accept cards. Amelia Murray, a money expert at Be Clever With Your Cash, said: 'There's still a blind spot when it comes to cash. Many people assume that having a fee-free card is enough, but that can be a false economy if you end up using an ATM abroad that charges or get stung by poor exchange rates. 'It's not about carrying wads of cash, it's about being prepared for those moments when a card simply won't cut it.' Ms Murray suggested packing a 'cash cushion' – a small amount of local currency that could be useful for tipping, local travel, or if holidaymakers end up somewhere that does not accept cards. She also suggested that holidaymakers make sure they understand their card's policy on fees and currency conversion before they travel. People may also want to check how much they would be covered for by their travel insurer if their cash is lost or stolen while they are abroad. Research released by financial information business Defaqto in May indicated that 91 per cent of annual and 86 per cent of single trip policies included cash cover as standard. Just over a third (35 per cent) of single trip travel insurance policies covered as much as £200 to £299, while a quarter (24 per cent) covered between £300 to £399, according to Defaqto 's analysis.
Daily Record
17-07-2025
- Business
- Daily Record
Retirement expert issues warning to people paying basic rate of income tax
Workplace pensions will form the backbone of income for workers in retirement. Income tax rises for Scots in April - how the changes affect you A finance expert is warning that basic rate taxpayers are being left in the dark on their pension contributions. A survey of 1,000 people by Opinium for Hargreaves Lansdown, suggests that one in four (24%) people don't know how much they and their employer are paying into their workplace pension. The research also found that people were most likely to say they contribute somewhere between £101-200 per month (17%). Basic rate taxpayers (24%) are significantly more likely to have no idea how much money is being paid into their pension, compared to 12 per cent of higher rate and 2 per cent of top rate taxpayers. However, 57 per cent of basic rate taxpayers said they were contributing between £1-£300 from their monthly salary towards their retirement savings. Clare Stinton, head of workplace saving analysis at Hargreaves Lansdown, said: 'Auto-enrolment has got millions more people saving for retirement, but many are doing so blindly - one in four don't know how much they and their employer are paying into their pension. If you don't know what's going in, then how can you possibly know what you'll get out - and crucially, whether it'll be enough to retire on your terms?' 'Basic rate taxpayers are far more likely to be in the dark than higher earners. Yet even one in 10 of those in the 40 per cent tax bracket don't know what they're contributing. For higher earners this lack of awareness could be costly for those who need to actively claim any extra tax relief from HMRC on pension contributions. Failing to do so could mean leaving thousands of pounds on the table unclaimed. 'With fiscal drag pushing more people into higher tax bands, pensions are an increasingly powerful way to reduce your total taxable income and keep more of what you earn. It's no surprise then, that both awareness and contribution levels rise with income. The tax perks of pensions typically get more generous as you climb the income ladder, with tax relief available at your highest marginal rate.' Ms Stinton continued: 'Let's not forget employer contributions either, if you don't know what's going in, then chances are you don't know what's on offer either. Over half of basic rate taxpayers are contributing less than £300 a month, and for many the rising cost of living may mean that there is little room to stretch further. But it's worth checking if your employer offers salary sacrifice, if they do, you'll save both the income tax and National Insurance on what you pay in. 'For basic rate taxpayers that's a 28 per cent tax saving, meaning every £100 into your pension could cost you as little as £72. Some employers will even boost their contribution, if you increase yours. This is known as an employer match and can really increase the amount going into your pension.' The finance expert said the the crucial question we all need to ask ourselves is 'am I paying enough into my pension to live the life I want later on?' She explained: 'There's no one-size -fits-all answer, but the earlier you run the numbers, the greater chance you have to adjust your course. If you can afford to pay in a little more, every pound you pay in now could be the difference between scraping by in retirement or enjoying weekends away and dinners out. 'A pension calculator will do the heavy lifting, just plug in your details, and it'll project what your pot might be worth at your preferred retirement age. These tools can also model the impact of a small increase in contributions. Remember pay can change so it's important to review from time to time and make sure you're still on track.'
Yahoo
14-07-2025
- Business
- Yahoo
Do you trust your partner enough to give them money for tax purposes?
The starting pistol has been fired on tax speculation ahead of the autumn budget. The fact that cutting spending has proved so thorny makes tax rises more likely, in order to balance the books, so the debate is flowing thick and fast about where the pain could be felt, and what people can do to protect themselves. One option is for couples to plan together, and share savings and investments in order to keep their tax bill down. However, this requires some serious trust. If they share everything between them, it means both parties can take advantage of their ISA and pension allowances. If they hold anything on top of this, by splitting it, they might be able to stay within their annual tax-free allowances. If anyone other than married couples or civil partners do this, there could be tax to pay on the transfer — but if they're married, there's no immediate tax bill. Read more: How to start investing with an employee share scheme The good news is that according to research from Hargreaves Lansdown with Opinium, almost three quarters of people trust their spouse enough to share their savings and investments like this, in order to take advantage of tax rules. The more assets someone has, the more likely they are to trust their spouse with some of them — with 79% of savers and 84% of investors saying they would be happy to share assets to save tax. Higher earners are also more prepared to hand over their cash — including 82% of higher rate taxpayers. This will be influenced by the fact they have more to gain from the move. If you don't think you can trust your partner, it pays to listen to your gut, because sharing assets comes with risks. If you've handed money over, you'll have given it away entirely, so you will no longer have any control over it. Your partner will be free to make any decisions they want with it, moving investments or savings, or spending as much as they fancy. You have to ask yourself whether you're prepared to relinquish that control. Read more: How to save money on your council tax bill You also need to appreciate your position if you get divorced. You may be able to come to an agreement about division of assets, or the courts will divide your estate up in a way it believes is fair. However, that doesn't mean you'll get this money back on the grounds it was yours in the first place. Any court will prioritise need and start with equality, so might not see a significant chunk of these assets again. There's also the possibility that an estranged spouse will spend as much of the money as possible, in order to reduce your settlement. It means that while sharing your assets can be a great way to cut your tax bill and save money, it's important to think long and hard about it first. Losing a chunk of money to the taxman is bad enough, but losing all of it to a partner who turns out to be untrustworthy would be even worse. Read more: How much money do you need to retire? How to avoid finance scams on social media Why you can trust an 18-year old with their junior ISA – and how to create one
Yahoo
14-07-2025
- Business
- Yahoo
Do you trust your partner enough to give them money for tax purposes?
The starting pistol has been fired on tax speculation ahead of the autumn budget. The fact that cutting spending has proved so thorny makes tax rises more likely, in order to balance the books, so the debate is flowing thick and fast about where the pain could be felt, and what people can do to protect themselves. One option is for couples to plan together, and share savings and investments in order to keep their tax bill down. However, this requires some serious trust. If they share everything between them, it means both parties can take advantage of their ISA and pension allowances. If they hold anything on top of this, by splitting it, they might be able to stay within their annual tax-free allowances. If anyone other than married couples or civil partners do this, there could be tax to pay on the transfer — but if they're married, there's no immediate tax bill. Read more: How to start investing with an employee share scheme The good news is that according to research from Hargreaves Lansdown with Opinium, almost three quarters of people trust their spouse enough to share their savings and investments like this, in order to take advantage of tax rules. The more assets someone has, the more likely they are to trust their spouse with some of them — with 79% of savers and 84% of investors saying they would be happy to share assets to save tax. Higher earners are also more prepared to hand over their cash — including 82% of higher rate taxpayers. This will be influenced by the fact they have more to gain from the move. If you don't think you can trust your partner, it pays to listen to your gut, because sharing assets comes with risks. If you've handed money over, you'll have given it away entirely, so you will no longer have any control over it. Your partner will be free to make any decisions they want with it, moving investments or savings, or spending as much as they fancy. You have to ask yourself whether you're prepared to relinquish that control. Read more: How to save money on your council tax bill You also need to appreciate your position if you get divorced. You may be able to come to an agreement about division of assets, or the courts will divide your estate up in a way it believes is fair. However, that doesn't mean you'll get this money back on the grounds it was yours in the first place. Any court will prioritise need and start with equality, so might not see a significant chunk of these assets again. There's also the possibility that an estranged spouse will spend as much of the money as possible, in order to reduce your settlement. It means that while sharing your assets can be a great way to cut your tax bill and save money, it's important to think long and hard about it first. Losing a chunk of money to the taxman is bad enough, but losing all of it to a partner who turns out to be untrustworthy would be even worse. Read more: How much money do you need to retire? How to avoid finance scams on social media Why you can trust an 18-year old with their junior ISA – and how to create one
