Latest News

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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...
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The Government's plans to clampdown on tax avoidance face "great uncertainty" and must be reviewed, according to the Treasury Select Committee. Chancellor, George Osborne, unveiled a series of measures in the Autumn Statement designed to close...
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UK residents saving for their retirement through a pension could face a 55 per cent tax rate when the lifetime allowance threshold is reduced from £1.5m to £1.25m on April 6, the Association of Chartered Certified Accountants said yesterday (6...
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Consumer finance new business grew by 18% in the UK in January 2014 compared with the same month in 2013, and is now reaching £5.6 billion, according to new figures released yesterday (6 March) by the Finance & Leasing Association (FLA). Retail...
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Consumers who want to invest in small or start-up businesses via crowdfunding platforms will receive clearer information about the business in which they are investing, under proposed new rules from Financial Conduct Authority (FCA). This industry is thought...
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EU Member States have endorsed Commission proposals for new rules that will make it easier for companies to recover claims across borders, the European Commission announced yesterday (4 March). The new regulation is expected to help businesses recover...
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Disabled people who take on a carer or personal assistant now have access to additional information and support, following the launch of an enhanced version of the Disability Tax Guide website, the Low Incomes Tax Reform Group (LITRG) announced yesterday (4...
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Two financial institutions have offered to pay the full stamp duty bill for first time buyers purchasing properties. Halifax has today (4 March) announced it will pay the entire stamp duty bill on purchases between £125,001 and £250,000, reducing...
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Revised rules for the consumer credit industry and new plans for payday lenders have been published on Friday (28 February) by the Financial Conduct Authority (FCA). The body will take over the regulation of around 50,000 consumer credit firms from the...
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Over 100,000 households are being helped onto the property ladder thanks to Government backed schemes such as Help to Buy or Right to Buy, Communities Secretary, Eric Pickles, announced yesterday (27 February 2014). Overall the number of homeowners who have...
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A joint letter emphasising concerns over the latest draft Code of Practice for funding defined benefit (DB) pension schemes was sent to the Pensions Regulator yesterday (27 February) by the Confederation of British Industries (CBI) and the Trade Union...
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Shadow foreign secretary, Douglas Alexander, said on Thursday (27 February) that Scottish Labour party must take fight to SNP by offering more radical form of devolution. He has called for Scotland to be given more freedom over tax-raising powers, employment...
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New guidance to help couples assess and agree financial needs on divorce or at the end of a civil partnership has been issued by the Law Commission. These recommendations come after the Commission found evidence of regional inconsistencies in how the courts...
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Disabled people are facing "distress and financial difficulties" because of the slow processing of claims under the new Personal Independence Payment (PIP) benefit scheme, according to a new report from the National Audit Office (NAO). Backlogs of...
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Forex Capital Markets Ltd and FXCM Securities Ltd (“FXCM UK”) have been fined £4 million for allowing US based FXCM Group to withhold profits worth approximately £6 million that should have been passed on to FXCM UK’s clients,...
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A £40 million investment to support lending to smaller businesses through peer-to-peer lender Funding Circle will begin on 1 March 2014, the British Business Bank programme announced yesterday (25 February 2014). This investment is expected to support...
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Two new international training programmes for tax professionals will start in May 2014 that include both online and residential components, HM Revenue and Customs (HMRC) announced yesterday (25 February). The programmes, which are run by HMRC on behalf of the...
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The Coalition is planning one of the biggest ever shake-ups of National Insurance, in a bid to make the system more transparent for businesses and their employees. Tory backbench MP Ben Gummer will today present a Commons Bill that will propose changing the...
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A tribunal has found that a tax avoidance scheme which involved high earners claiming that they were second-hand car dealers in their spare time did not work, HM Revenue and Customs (HMRC) said on Friday (21 February). The decision is expected to save...
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The Government has launched an advertising campaign targeting people who have been evading taxes by holding money in offshore accounts, Chancellor George Osborne announced on Sunday (23 February). Tax evaders could face fines of 200% of the tax owed and...
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People affected by the recent spate of flooding in the UK are to be exempted from paying council tax, Prime Minister David Cameron has confirmed. He revealed that the Government has set aside £4 million for local authorities to cover the cost of unpaid...
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A number of major Hollywood figures are getting behind the so-called 'Robin Hood tax', which some claim would help to save the UK billions of pounds a year, as well as tackling poverty both domestically and around the world. In support of the scheme,...
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Falling confidence in emerging markets is creating a significant threat of deflation, which represent the "ogre" that could hamper recovery, IMF Managing Director Christine Lagarde has warned. It comes as the dynamics of the world economy are set to...