Personal Independence Payment (PIP)

From the 10 June, any disabled person with care or mobility needs will have to claim a new benefit called Personal Independence Payment (PIP) rather than Disability Living Allowance which it is replacing. PIP demands a higher level of disability to get the same amount of money.  provides a useful guide.

Deprivation of assets

A number of people have been looking at ways to reduce their assets, thereby reducing any potential tax implications. The rules for deprivation of assets - meaning the reduction of your assets by spending, gifts, certain investments etc - can be quite complicated and will affect your local authority means' test for care home provision. A useful guide can be found by visiting Age UK at (

Changes to how banks process payments

The Financial Conduct Authority (previously the Financial Services Authority) have announced an agreement reached between many main high street banks, for example; Barclays; The Co-operative; HSBC; Nationwide; RBS Group; Santander and National Australia Group (which owns Clydesdale and Yorkshire Banks) over the charges applied to customer accounts even though the account is credited on the same day. The agreement is commonly referred to as same day ‘retry system’ i.e. when payments are made to and from customers’ accounts.

In short, the same day retry system will stop you receiving unnecessary penalty fees currently encountered when using the Faster Payments process.

For further details visit

Friday 14 June 2013 - 11:16

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