Latest News

-
An updated industry guide for lenders and intermediaries regarding mortgage sales and servicing was published yesterday (22 April) by the Association of Mortgage Intermediaries (AMI), the Council of Mortgage Lenders (CML) and the Intermediary Mortgage Lenders...
-
A radical overhaul of tax relief on pension contributions is needed to make the system fairer, according to think tank Centre for Policy Studies. It says in its latest report that the current income-related system is failing savers by offering the biggest tax...
-
Taxpayers' personal data could be shared with private firms under plans drawn up by HM Revenue & Customs (HMRC). The Guardian newspaper revealed that the legislation would allow HMRC to release anonymous tax data to third parties including companies,...
-
Wages are set to rise by more than inflation for the first time in almost six years, according to research from economic forecaster EY. It says a "long period of low inflation" means average earnings could rise faster than the cost of living as...
-
UK tenants and leaseholders will receive stronger protection from unscrupulous letting agents, under plans announced by Housing Minister, Kris Hopkins, yesterday (15 April). The minister unveiled three approved "redress schemes" that all letting and...
-
Unemployment has dropped below 7% for the first time since the recession and employment has seen the biggest annual jump in a generation, according to new figures from the Office for National Statistics (ONS). The number of unemployed people fell by 77,000...
-
Retirees could be issued guidance on how long they are likely to live, Pensions Minister, Steve Webb, has said. He warned people often underestimate how long they might live and can be left without enough savings. The Government has pledged to provide...
-
New rules which come into force on 26 April 2014 will bring significant changes to mortgage lending, the Financial Conduct Authority (FCA) said yesterday (14 April). The regulatory body explained that the new legislation will ensure that people only get a...
-
New rules will make it easier to prosecute offshore tax evaders, Chancellor of the Exchequer, George Osborne, announced on Saturday (12 April). The Government will consult on plans to introduce a new strict liability criminal offence for individuals who...
-
Around nine million pension savers will save for the first time or save more due to reforms of workplace pensions, which is around one million more than previously forecast, the Department for Work and Pensions (DWP) said on Friday (11 April). Latest...
-
Employment agency Reed has been found liable for up to £158 million of unpaid tax due on the salaries of thousands of temporary workers it employed, HM Revenue & Customs said on Friday (11 April). The Upper Tribunal has backed an earlier judgment...
-
Two public consultations to gather ideas on how to tackle tax obstacles that hinder the cross-border activity of individuals in the single market were launched by the European Commission yesterday (10 April). At the same time, the Commission has launched new...
-
New research into the overdraft market was published yesterday (10 April) by the Financial Conduct Authority (FCA). The report states that overdrafts aren’t providing good value, with many consumers confused about the costs. The FCA looked at both...
-
The new Current Account Switch Service has attracted more than 600,000 people since its launch on 16 September 2013, said the Payment Councils. Today (16 January), The 609,300 switches in the six months to the end of March marked an increase of 14% on the...
-
New tax reliefs for the UK video games sector have been given full approval by the European Commission, Chancellor of the Exchequer, George Osborne, announced on Monday (7 April). He has welcomed the decision, stating that this is a key industry of the...
-
Property owners who spend more time living in a second home could face a tax charge on selling the main family residence, warned HM Revenue & Customs (HMRC). In a Government consultation initiated last week, it proposed...
-
The net is closing in on those who illegally sublet or make false applications for social homes or for the Right to Buy scheme, Housing Minister Kris Hopkins warned yesterday (7 April). He said that councils will have more powers at their disposal to...
-
Sweeping changes to the way bailiffs can enforce debt repayments come into force in England and Wales on Sunday, the Government has announced. The new laws include a ban on bailiffs entering homes at night and from using physical force against debtors. ...
-
Many advisory firms are not being clear with consumers on how much advice costs, the type of service they offer and what on-going services they provide, the Financial Conduct Authority’s (FCA) said today (7 April). It found in its latest review into...
-
New figures reveal that consumer finance new business grew by 14% in February 2014, compared with the same month last year, the Finance & Leasing Association (FLA) said on Friday (4 April). Other findings show that the second charge mortgage market...
-
From October 2014, around 24 million people will receive a personal tax statement from HM Revenue & Customs (HMRC) setting out how much tax they paid in the previous year and how it contributed to public expenditure, Chancellor of the Exchequer, George...
-
A range of changes to business rates designed to bring new support to local shops, pubs and firms went live yesterday (1 April), Communities Secretary Eric Pickles announced. The tax changes mean nearly 300,000 eligible small shops in England could see their...
-
Pensioners and those who reach pension age in the next two years will be able to get up to £25 of additional State Pension a week, the Department for Work and Pensions (DWP) announced yesterday (2 April). The top up will be available from October 2015...
-
An extra £3.6 million will fund free debt advice in England and Wales in the year ahead, the Money Advice Service (MAS) said yesterday (2 April). In its Business Plan for 2014/15, the Service revealed it expects to handle 16 million contacts from people...
-
New research revealed that nine million Britons are considered in serious debt and facing problems with debt and just 1.5 million have sought debt advice, according to the Government’s Money Advice Service (MAS). In addition, 1.8 million...