No test, no entry

The 1-minute read to get the money news you need with expert adviser commentary.

Testing at the borders

From next week, everyone arriving in the UK from abroad will need to show a negative coronavirus test. The new rules say you have to take a test within 72 hours of departing - and that includes British people coming home to the UK. And if you don’t? Border Force are doing spot checks and issuing £500 on-the-spot fines.

Money firms at risk

Around 4,000 financial firms are at risk of going under this year because of the economic fallout of the coronavirus crisis. The FCA says a third of those could potentially harm customers if they collapsed. What kind of harm? Less competition between firms, a less effective market, and damage to customer confidence, according to the FCA.

Staying in, streaming

Lockdown fuelled a record year for home entertainment - British viewers spent £9 billion on keeping ourselves entertained in 2020. That’s 17% more than in 2019. With gigs and festivals cancelled it was also a bumper year for vinyl, which saw its highest sales in decades.

High street slump

Retailers suffered their worst December ever last year, with sales slumping to their lowest since the pandemic began. Shoppers stayed at home and saved their money as tighter restrictions came in across the country. Early January figures show that people aren’t even tempted by discounted prices in the sales.