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  • 2012
    • May
      • Treasury Examines Growth Plan
        05/18/12
        It has been revealed that the government is to examine plans to commit more than £20 billion of taxpayer money to infrastructure projects, in an effort to rekindle flagging economic growth.

        With the government said to be desperately seeking “cost-free” ways of lifting growth that do not

      • State Pension Less than Minimum Wage
        05/17/12
        Over six million adults are set to receive less than the minimum wage during retirement, according to figures released from a recent survey.

        The State of Retirement Report which questioned 1559 UK adults over the age of fifty, has found that roughly 6.25 million people aged over fifty wil

      • UK Growth Forecast Set to be Cut
        05/16/12
        Later today the Bank of England are set to release their inflation report, their first assessment of the economy since the country went back into recession.

        In the last report from the Bank of England, the central bank forecast that GDP growth for the UK would be around 1.2 percent for th

      • Businesses Warned Over Final Pension Schemes
        05/15/12
        New research has suggested that over the next three years, British businesses will face a £100 billion drain on their finances as they continue to top up ailing final pension schemes.

        The warning, which comes from the Pension Corporation comes as the pension deficit continues to rise, wit

      • Tax Refunds to Come Early
        05/14/12
        It has been revealed that up to 3.5 million taxpayers could be in line for a tax refund, from as early as next week, as HMRC begin reconciling employer and employee PAYE year-end.

        The process of reconciling employer and employee tax accounts happens each year and results in millions of pe

      • UK Investment Funds to Land Windfall
        05/11/12
        British investment funds could be in line to receive a £16 billion windfall, following a decision by a European Court, which ruled that taxes charged by France on dividends paid by French companies to foreign investors should not be subject to withholding tax.

        Currently, under French tax

      • Bank of England to Resist More Quantitative Easing
        05/10/12
        The Bank of England are expected later today (May 10th 2012) to call time on the latest round of quantitative easing, following signs that inflation is proving to be “stickier” than expected.

        With the second round of the quantitative easing programme complete, the Bank of England now need

      • Pension Deficit Continues to Rise
        05/09/12
        It has been revealed that the combined deficit of Britain’s private pension scheme rose to £216.8 billion – an increase of nearly £11 billion – as the funds were hit by the knock-on effects of the Bank of England’s “money printing”.

        The figures released from the Pension Protection Fund (P

      • Bank Balances Boosted by Careful Saving
        05/08/12
        A study has reported that despite the tough economy, careful savers have managed to increase their balances to the highest levels in nearly two years.

        The study, which is based on a consumer savings monitor report – which has been running since 2009 – has revealed that tight control over

      • HMRC to Yield £6 Million in Fines Per Day
        05/04/12
        It has been revealed that as a result of harsher penalties which took effect earlier this week, HMRC is now imposing over £6 million in fines each day on 650,000 taxpayers who have failed to file their tax returns.

        Estimates have suggested that 850,000 taxpayers missed the January 31st 20

      • Bank of England Could Have Done More
        05/03/12
        The head of the Bank of England, Sir Mervyn King, has admitted that the central bank failed to do enough to warn about the risks building up in the banking sector, ahead of the financial crisis.

        Speaking at a lecture in London yesterday (May 2nd 2012), Sir Mervyn King said the bank was no

      • Third of Workers to Pay Higher Tax
        05/02/12
        Figures released by the tax office show that almost a third more workers are set to pay tax at the higher threshold of forty percent during the current financial year; pushing the total paying the higher rate tax to over four million.

        The increase in higher-rate taxpayers is being attribu

      • HMRC’s Charity Gift Aid Payments Revealed
        05/01/12
        As criticism continues to be levelled at the government in regard to their proposed cap on charity tax relief, HMRC have published figures showing the amount it gave in gift aid payments to charities last year.

        The figures, compiled by HMRC’s personal taxes division, were citied by the Ex

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