The Institute for Fiscal Studies (IFS) has criticised a loophole in the tax system that means around 500,000 professionals are paying a tax rate of 60 per cent on some of their income.Continue reading
Retail sales rose by 4.2 per cent in April on a year-on-year, like-for-like basis, with sales growth for the twelve months to April this year up 2.8 per cent compared to the 12 months to April 2013.Continue reading
A new survey has shown that almost 80 per cent of small and medium-sized enterprises (SMEs) are confident that the UK is a positive environment in which to grow a business, while a separate study has found that the country’s jobs outlook is at its highest for more than six years.Continue reading
A new survey from a workplace pension provider has found that almost half of small and medium-sized enterprises (SMEs) have yet to consider how they will find a pension scheme to comply with auto-enrolment and many are turning to accountants for support.Continue reading
HM Revenue & Customs (HMRC) has outlined plans for new powers to recover money from anyone who owes more than £1,000 in tax by taking it direct from their bank accounts. The plans are currently going through the consultation process and, if approved by Parliament, will take effect in 2015-16.Continue reading
Nearly half a million more people are expected to enter the workforce in the next 12 months, according to new research by the Institute of Chartered Accountants in England and Wales (ICAEW).Continue reading
The overhaul of the UK’s corporation tax regime is making the UK a very attractive place for multinationals to do business, with hundreds of them lining up to establish operations here.Continue reading
The pound rose to a near five-year high against the dollar yesterday (May 1) after the Markit/CIPS Manufacturing Purchasing Managers’ Index (PMI) jumped to 57.3 from a revised 55.8 in March.Continue reading
New figures from HM Revenue & Customs (HMRC) show that the number of people in the 40p rate tax bracket will rise from 3.5 million to 4.6 million by the time of the next election.Continue reading
A revolutionary new mobile banking app that allows money to be transferred between accounts using just telephone numbers launched yesterday (April 29) but most bank customers will have no immediate access to the technology and many will not be able to use the system fully until 2015.Continue reading
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