Survey reveals financial ignorance

Posted on 19 Aug 2015
Share Blog Post
Survey highlights financial ignorance A new survey on personal finance from Vanquis, the credit card and loan provider, has found that only one in three British people know the rate of VAT and fewer know how much you can invest in an Isa. The survey also found that 80% of people could not identify the correct definition of an annual percentage rate (APR) and nine in ten did not know the rate of NI contributions for an employed, basic-rate taxpayer. The question which stumped the most people was how much can usually be borrowed on a mortgage as a multiple of income – with only 5% correctly identifying the figure as 4.5 times the borrower’s earnings.

View more blog posts

SME confidence climbs
Posted on 15 May 2024
SME confidence climbs
read more
Minimum wage HMRC staff
Posted on 08 May 2024
Minimum wage HMRC staff
read more
Fiscal drag makes taxpayers worse off
Posted on 06 May 2024
Fiscal drag makes taxpayers worse off
read more
HMRC get unexpected reaction
Posted on 29 Apr 2024
HMRC get unexpected reaction
read more
Back To Top
01604 660661