Latest News

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There are concerns about how childcare support plans set out in the Queen’s Speech on Wednesday (4 June) will operate in practice, the Low Incomes Tax Reform Group (LITRG) has said. The Government is to introduce a Tax-Free Childcare scheme to give...
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Logbook lenders that want to continue operating under current regulation will need to dramatically raise their standards, the Financial Conduct Authority (FCA) said yesterday (5 June). The regulatory body has published new research that revealed evidence of...
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New research reveals that over 13 million homes in the UK could reclaim up to £1.2 billion worth of credit between them, independent switching service uSwitch has revealed. The number of households in credit with their energy supplier has risen to 52%...
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Britain should raise taxes on higher value properties and build more houses, the European Commission has said. It urged the Government to reform the "regressive" council tax system as taxes are relatively higher on low value homes than high value...
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Pension reforms were at the heart of the Queen's Speech yesterday (4 June), as the monarch set out the legislative programme for the final year of the coalition Government. A house building drive and a commitment to reform the EU were also high on the...
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A global accounting standard that will overhaul the way businesses record revenue on their books has been unveiled by regulators. The Financial Accounting Standards Board (FASB), which writes book-keeping rules in the United States, and the International...
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An independent Scotland would face bigger spending cuts and higher tax rises than previously predicted if it is to balance the books, a think tank has suggested. The Institute for Fiscal Studies has updated its calculations, based on the latest downgraded...
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Economic growth reached a record high in May, posting the highest reading since data began in 2003, according to the latest Confederation of British Industry (CBI) growth indicator. The survey of 726 respondents across the manufacturing, retail and service...
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Employees will soon be able to contribute to Dutch-style collective pensions, the Queen is expected to announce on Wednesday (4 June) in her Speech. The policy is part of the Government's new Pensions Bill. Under the changes, which could be introduced by...
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New data released today on the profile of mortgage lending in Greater London in the first quarter of 2014 shows that first-time buyers in Greater London took out 11,900 loans; a decrease of 11% compared to the fourth quarter of 2013 but up 29% compared to the...
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The returns insurers can generate doing deals with corporate pension schemes are set to come under pressure, the head of Aviva has warned. Chief executive of the British life insurer, Mark Wilson, has told investors it is “inevitable” profit...
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From Sunday 1 June 2014, the amount that customers can invest in Premium Bonds will increase to £40,000, up from the current maximum of £30,000, National Savings and Investments (NS&I) said on Wednesday (28 May). As customers increase their...
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A new scheme, called the Church Credit Champions Network (CCCN), was launched to help consumers use credit unions rather than payday lenders, the Church of England announced today (28 May). The scheme will be tested in three areas: London, Southwark and...
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Conflicts within insurance intermediaries are not being properly managed, a review by the Financial Conduct Authority (FCA) has found. It concluded that in some firms, control frameworks and management information have not developed at the same pace as...
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The Government has raised a record £23.9 billion in additional tax for the year to the end of March as a result of a crackdown on tax avoidance, HM Revenue and Customs (HMRC) announced yesterday (27 May). It said it had secured the money - the highest...
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Barclays Bank has been fined £26,033,500 for failing to adequately manage conflicts of interest between itself and its customers as well as systems and controls failings, the Financial Conduct Authority (FCA) announced on Friday (23 May). The...
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Tax Freedom Day - when UK taxpayers stop paying the Government taxes and start earning money for themselves - will come earlier this year than in 2013, the Association of Chartered Certified Accountants (ACCA) said on Friday (23 May). It will fall tomorrow...
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UK landlords can access online training in tax matters to help them understand how to pay tax on properties that they let out, HM Revenue & Customs (HMRC) has announced. It said the computer based tutorials are aimed at people renting out residential...
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UK small businesses could be inadvertently damaging their growth prospects by paying accountants who have no training, the Association of Chartered Certified Accountants (ACCA) warned yesterday (22 May). It said new research from cloud accounting software...
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A British court has ordered into liquidation 13 companies after an investigation found that they had made over £19 million from selling carbon credits to vulnerable investors, the Insolvency Service has revealed. Eco-Synergies Ltd, a wholesaler of...
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A guide was issued yesterday (21 May) to help taxpayers understand their actual tax liability, the Low Incomes Tax Reform Group (LITRG) has announced. It was released as HM Revenue & Customs (HMRC) started to issue tax reconciliations to millions of...
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More than 50,000 letters are to be sent to single parents in Britain informing them of changes to their child maintenance arrangements, the Department for Work and Pensions (DWP) has announced. The Government wants parents to agree their child maintenance...
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One in ten of today’s mortgagors risk being imprisoned by borrowing deals which are likely to make their repayments unaffordable, according to new research from think tank the Resolution Foundation. As interest rates rise over the next four years, the...
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Gross mortgage lending was an estimated £16.6 billion in April, according to the Council of Mortgage Lenders (CML). This is 8% higher than March’s gross lending total and 36% higher than April last year (£12.2 billion) and the highest total...
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The vast majority of older workers will receive good value from staying in a workplace pension rather than opting out, according to the Pensions Policy Institute (PPI). The institution came to this conclusion in a new report published today (20 May) that...