Unzipped: Motorists putting brakes on as fuel cost soars

PETROL station visits have fallen by 12 per cent since last August according to the AA as families attempt to beat crippling fuel bills.

The amount of fuel they are buying has also slumped over recent weeks. Motorists are on average filling up 3.4 times per month compared with three times at the end of April.

Unfortunately, the average spend per transaction has jumped by 17 per cent from 38.65 to 45.10. On average, AA Credit Cardholders are spending 135.57 per month at petrol stations, compared with 131.41 in August, despite filling up less frequently.

Banking on parents' help

Nearly nine out of ten first-time home buyers rely on financial support from their parents, according to Clydesdale and Yorkshire Banks.

This figure has more than doubled since 2005, when just 38 per cent of buyers relied on the "Bank of Mum and Dad."

Steve Reid, retail director for Clydesdale Bank, said: "It is becoming increasingly commonplace for first-time buyers to require financial help from their parents when buying their first home."

Tax attack on eBayers

An accountancy body has warned followers of eBay and car boot sales that they could find themselves landed with an unexpected tax bill.

If you are simply selling the odd unwanted item, you should be safe from the taxman's clutches, but HM Revenue & Customs (HMRC) is concerned about anyone who is using the internet or car boot sales to supplement their income, according to the Chartered Institute of Accountants.

Frequent eBay users could be deemed to be trading and conducting a business, and subject to capital gains or even income tax.

The penalty for hiding tax that should have been paid is a fine of up to 100 per cent of the unpaid tax plus payment of the tax itself and interest.

New Growth Bond issue

The Post Office has launched a new issue of its popular Growth Bond, with fixed rates of up to 4.05 per cent for three years. The one-year bond pays 3.35 per cent and the two year 3.8 per cent.

Royal Bank of Scotland has launched a new range of savings bonds including a one-year fixed bond paying 3 per cent gross on sums of more than 5,000.

It also has a two-year bond fixing interest at 3.75 per cent on more than 5,000. Finally it has a three-year fixed stepped bond paying 2 per cent in year one, 4 per cent in year two and 6 per cent in year three. All returns are taxable.