By November, alternative lending will hit the £5 billion mark, with companies shelling out on average £211.5 million a month during 2015 to small and medium-sized business seeking investment. The phenomenon of alternative lending has surprised a lot of people. When it was launched in 2012, the market was worth an estimated £267 million, as […]
The number of over-50s still at work has hit record levels. Pensions Minister Baroness Altman said: “A social revolution is underway as increasing numbers of over-50s realise they are not ‘old’ and want to keep on working. “It’s a win-win for everyone because they have higher incomes and boost the economy.” A record 302 in […]
Following last month’s newswire which reported that buy-to-let (BTL) mortgage deals were at a seven-year high, the Bank of England has warned that this boom potentially poses a risk to the UK’s economic stability. The Bank’s Financial Policy Committee (FPC) warned that landlords, typically funded through interest-only loans, could be “disproportionately vulnerable” to large falls […]
The Citizens Advice Bureau has warned that almost a million people have no strategy in place for repaying their interest-only mortgage and could face repossession. Research from the charity estimates that 934,000 people have an interest-only home loan and do not have a plan for how they will pay it off when it matures. That […]
The Enterprise Bill is currently going through Parliament. Part of the Bill reforms the business rates appeals system. The government’s changes have been criticised by rates experts and business groups, amid concerns that the changes will act as a ‘barrier to justice’. The Valuation Office Agency (VOA), which is part of HMRC, is responsible for […]
The government has announced a package of measures including tougher NMW penalties to ensure employees receive the pay they are entitled to. The measures include: doubling the penalties for non-payment of the NMW and the new National Living Wage increasing the enforcement budget setting up a new team in HMRC to take forward criminal prosecutions for those […]
In September HMRC updated their detailed guidance notes which outline how the tax system operates for charities. The notes include how to apply to be recognised as a charity for tax and the operation of gift aid and payroll giving. Over the last five years the government has brought in a range of changes to […]
Carrier bag charges will begin in England on 5 October 2015. For a large retailer the minimum charge is 5p for single-use plastic carrier bags. For small or medium-sized businesses no charge is required but can be made on a voluntary basis. A business that employs 250 or more full-time equivalent employees, in all roles […]
The government has announced that the date of the Autumn Statement will be 25 November 2015. The Chancellor of the Exchequer, George Osborne, has announced that there will be an Office for Budget Responsibility forecast alongside the Spending Review on Wednesday 25 November 2015. The government will therefore publish a joint Autumn Statement and Spending […]
For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2014/15 return is 31 October 2015. Returns submitted after that date must be submitted electronically or they will incur a minimum penalty of £100. The penalty applies even when there is no tax to pay or the tax is […]
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