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Halifax urging savers to use tax allowances

Halifax is urging savers to avoid the taxman this Christmas by using up their various allowances.

The bank says savers should remember to use up their £7,000 Isa allowance for liquid savings and make use of the tax relief available on pension contributions.

It says single people with children should also ensure they are receiving the extra allowance which reduces their tax bill by up to £529 each year per child.

Finally, Halifax says Christmas shoppers buying presents should stick to books as they are exempt from VAT, which stands at 17.5 per cent.

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Neptune video: UK economy: a sustainable recovery?

After years of a slowly brewing economic recovery, the UK has seen a strong rise in growth in recent months. Mark Martin, manager of the Neptune UK Mid Cap Fund, discusses the strength of this recovery and whether it is sustainable.

In the video, Martin addresses the following:

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