£2bn seized from tax avoidance

Tax officials say they have received £250m in the last few days from people who were involved in tax avoidance schemes.

The biggest of these recent payments was for £5m.

HM Revenue and Customs has new powers to demand that users of tax avoidance schemes pay disputed tax up-front while their tax affairs are investigated, instead of waiting for a decision.

It does not name particular avoidance schemes behind the rush but sports figures, celebrities and other wealthy investors have been reported as facing demands for tax.

By sending out Accelerated Payments Notices, officials say they have "seized" £2bn since 2014, with half of that pouring in since September.

3,000 Notices a month are being issued, with a view to bringing forward over £5 billion tax revenue by March 2020.

Npower cuts 5%

The energy supplier, Npower, is to cut its standard gas price by an average of 5.2 per cent.

The typical annual bill for 1.2 million customers will drop by £32.

It is the fourth major provider to reduce prices in the wake of the falling cost of oil, following moves by Eon, SSE and Scottish Power.

While Eon's price cut was effective from 1st February, Npower's customers will have to wait until 28th March for the saving.

Fewer women getting pension

Only 90,000 women reach State Pension Age this year, compared to 320,000 men.

A similar thing is happening over the next 4 years.

It's because women are having to wait for their pensions, as male and female pension ages are equalised at 66.

Here is the table from the Department for Work and Pensions: