Latest News

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Proposals to save householders thousands of pounds off the cost of building their own home were announced on Sunday (23 March) by the Department for Communities and Local Government. Charges that require a large payment and add considerable costs...
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The number of UK households where no adult aged 16 to 64 is in work has continued to fall, new figures from the Office for National Statistics (ONS) show. Some 3.4 million such households were recorded in the UK in the last three months of 2013, the BBC...
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The UK mortgage industry will see the largest change to regulation in a decade on 26 April 2014, when the Mortgage Market Review (MMR) changes are formally implemented, the Council of Mortgage lenders (CML) said today (26 March). The rules, which are being...
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The recovery in the Scottish economy is continuing to strengthen at the start of 2014, according to the latest Business Monitor from Bank of Scotland. Expectations for the next six months are at the highest level since mid 2007. In the three months...
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The annuities market will shrink by 75% as a consequence of pension reforms recently announced by the Government, said Legal & General's chief executive, Nigel Wilson, on Wednesday (26 March). The leader of UK's largest insurance company...
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The bank Santander UK has been fined £12.4 million over failures in investment advice in its branches, the Financial Conduct Authority (FCA) announced on Wednesday (26 March). The financial watchdog said there was a risk that Santander customers could...
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Plans to introduce minimum quality standards for automatic enrolment will be outlined today (27 March) by Pensions Minister, Steve Webb. The Government had originally planned to introduce a possible 0.75% cap on charges in April this year but delayed the...
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Workers in health and wellbeing professions who have taxable income that they haven’t revealed have until 6 April 2014 to pay the tax they owe, warned HM Revenue & Customs (HMRC) on Thursday (27 March). Under the Health and Wellbeing Tax Plan, HMRC...
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The Government has unveiled its Finance Bill 2014, which demonstrates its commitment to a tax system that delivers its long-term economic plan by helping hardworking households, supporting growth and clamping down on tax avoidance and...
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A new guide that sets out how The Pensions Regulator and the Financial Conduct Authority regulate defined contribution (DC) workplace pensions was launched on Friday (21 March). Aimed at trustees, advisers and pension providers, the new guide outlines...
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UK residents in defined contribution pension schemes will no longer have to buy annuities, the Chancellor announced yesterday (19 March) in his Budget speech. They will now be able to take as much or as little of their pension pots as they wish at any time to...
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There are "strong concerns" about the announcement in yesterday’s (19 March) Budget that HM Revenue & Customs (HMRC) will have the power to take money directly from the bank accounts of tax debtors who owe more than £1,000 in tax or...
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Seventeen banks and building societies have agreed to repay over £149 million in interest and charges to around 497,000 customers, the Office of Fair Trading announced yesterday (20 March). The regulation body wrote to 50 banks and building...
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The Chancellor should build on existing programmes to help small businesses and encourage growth, the Association of Chartered Certified Accountants (ACCA) said yesterday (18 March), ahead of the Budget. The accountancy body believes it is important to keep...
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Tax-Free Childcare will be available to nearly two million households to help with the cost of childcare from autumn 2015, HM Treasury announced yesterday (18 March). UK residents will be able to open an online account, which they can pay into to cover...
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The length of time disabled people are having to wait to find out if they are eligible for benefits is "unacceptable", said the Work and Pensions Committee in a report published today (18 March). It called for urgent action to improve the current...
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Employers should send employees’ Pay As You Earn (PAYE) information in real time or face penalties, HM Revenue and Customs (HMRC) said yesterday (17 March). Some 70,000 employers who have never used the new system to file PAYE returns in real time are...
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The near-final valuations on the Government’s public service pension reform programme are expected to reveal that the current contribution rates are insufficient to meet the full costs of the schemes in the future, HM Treasury announced yesterday (13...
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New data released on the profile of UK lending in January 2014 shows that the total number of home-owner loans for house purchase in January 2014 was up 30% on January 2013, the Council of Mortgage Lenders (CML) said yesterday (13 March). Although,...
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To fund future pension and social care obligations, the Government will need to cut spending by more than a quarter, cut health and social protection spending by half, or impose significant tax hikes, according to new research from the Institute of Economic...
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Pressure to implement tax cuts to address the growing number of middle income earners being pulled into the 40p tax bracket have been rejected by Prime Minister David Cameron. According to the PM, he is focusing on the low paid, with any money for tax cuts...
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Payday lenders are harming consumers with "widespread irresponsible" lending and debt collection practices, warned Citizens Advice. The national charity said today (12 March) that it welcomes news that the Financial Conduct Authority (FCA) will...
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The first evaluation of how new rules designed to ensure that those working as contractors or ‘off-payroll’ pay the proper tax was published yesterday (11 March), HM Treasury has announced. It shows that in 6% of cases, former Government...
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The Competition and Markets Authority (CMA) will complete a market study into banking services for small and medium sized enterprises (SMEs) as part of a wider examination of competition in retail banking, the Office of Fair Trading (OFT) announced today (11...
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The Chancellor of the Exchequer should reform the stamp duty land tax regime to help those looking to get a foot on the property ladder, the Association of Chartered Certified Accountants (ACCA) said yesterday (10 March). With average house prices now at...