No one wants to consider their passing, but it is important that your family’s future is secure in the event of your death. New data from the Treasury has revealed that £4.7 billion was collected in Inheritance Tax in the last year – a 17 per cent increase on the previous year and a 91 […]
Figures published recently by the Prudential have shown a significant increase in the total amount put away by UK workers towards their pension pots, despite many firms missing their auto-enrolment staging dates. UK workers’ pension contributions last year amounted to more than £9.3 billion – a 17 per cent increase on the 2010/11 tax year […]
The proportion of under-45s who own their own home has suffered a sharp downfall in the wake of the global financial crisis in 2008, whilst ownership rates amongst older people have remained the same or increased. The rate of home ownership amongst under-45s was 64 per cent in 2003-4, whilst the overall rate of home […]
With the Bank of England Base Rate falling to a quarter of a per cent, NatWest has written to approximately 850,000 of its business customers warning that interest rates may imminently go negative. The effect would be that businesses would be charged to hold funds with the bank. However, one of the possible reasons for […]
Annual returns The Charity Commission, which is the relevant body for charities registered in England and Wales, has announced that its latest annual return is now available and can be found on GOV.UK. All registered charities, in England and Wales, with an income of more than £10,000 and all Charitable Incorporated Organisations reporting on their financial […]
ACAS have some guidance on ‘hot weather’ working. The guidance confirms that: ‘In the UK there is no maximum temperature that a workplace is allowed to be, rather advice from the Health & Safety Executive (HSE) states ‘during working hours, the temperature in all workplaces inside buildings shall be reasonable’. What is reasonable depends on […]
HMRC have issued updated guidance to employers on how to deal with student loan deductions via the PAYE system. Employers should familiarise themselves with the guidance which has been updated to reflect the introduction of plan 2 loans which are repayable from a different threshold but at the same nine percent basis. With effect from […]
The ONS has announced that in the three months from March to May 2016, the number of people in work increased. The number of unemployed people and the number of people not working and not seeking or available to work (economically inactive) fell. The statistics reveal that there were: 31.70 million people in work (176,000 […]
HMRC have launched a new taskforce to tackle wealthy tax cheats who are living beyond their means in Northern Ireland and expect the campaign to recover approximately £18 million. HMRC have announced that they are using Land Registry and Merchant Acquirer data to identify those with ‘badges of wealth’ such as large houses, aeroplanes, boats […]
According to the latest research by the TPR, based on surveys carried out between February and April 2016, the understanding amongst small employers of their duties under pensions auto enrolment saw a significant rise from 68% to 81%. Executive Director of Automatic Enrolment, Charles Counsell said: ‘More than 9 in 10 small employers are now […]
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