Annual tax forms to be replaced with digital accounts.

The end of the annual tax form will be announced by George Osborne today as he promises to bring in digital tax accounts for all individuals and small businesses.Continue reading→

Tories plan inheritance tax break for all properties worth up to £1mn

Homeowners with properties worth up to a value of £1mn would be able to pass them on to their children without them incurring any inheritance tax, if plans drawn up by George Osborne are implemented.Continue reading→

New penalties for “hard core” tax dodgers set to be announced in 2015 Budget

A clampdown on tax avoidance and evasion is expected as part of the 2015 Budget, with George Osborne increasing efforts to force the wealthy to pay what they owe.Continue reading→

Is your heartbeat the key to secure banking?

Can you imagine being able to get into your bank account simply by using your heartbeat to prove you are who you say you are?

The Halifax is trying out new technology which allows the customer to access the banking app on their mobile phone without putting in any codes, but by checking their unique heartbeat pattern for security.

The technology, known as a Nymi Band, uses Bluetooth to pair with a companion app for Windows, Mac, iOS and Android. It has been developed by Canadian firm Bionym.

In order to work it first has to record a person’s ECG to the band and link itself to the app. ECG data is captured when the customer wears the band on one wrist and touches a sensor on the top of the band with their opposite finger.

Halifax said the technology would only work if the band was on the account holder’s wrist, with the band also only detectable by the device it was originally paired with.

“In a world passwords and pin numbers, the Nymi Band will allow you to wirelessly prove that you are you to the world around you,” Bionym claims.

The technology has already been tested by the Royal Bank of Canada. 250 bank staff and customers used the wristband to login to their online banking.

It could have countless applications, experts say, including giving workers access to offices or to unlock and start cars. It is also predicted to appeal to governments who could use it to secure border posts, public transport and other facilities.

It could also be used to control numerous electronic devices around households from alarm systems to TVs.

UK workforce undergoes transformation as “digital economy” expands

The transformation of the UK’s workforce is taking place at a rapid pace as the nation embraces the new “digital economy”, according to a recent report.Continue reading→

Drastic change called for in the world of small business

A worrying 35 per cent of small business owners plan to shut down if the situation for them doesn’t improve.Continue reading→

UK “sharing economy” trade body set up by Airbnb and EasyCar

Airbnb and EasyCar, along with 19 other companies, are behind the creation of a new trade body that will represent and promote the UK’s “sharing economy” businesses.Continue reading→

Promoters of high risk tax schemes face strict penalties

As part of the Government’s efforts to put an end to tax avoidance, new rules and possible penalties have been announced in order to punish promoters of high risk tax schemes.Continue reading→

More firms will have to apply bank bonus cap or they could face action

The European Banking Authority has said more firms in Britain will have to apply its bank bonus cap, affecting hundreds of extra companies.Continue reading→

UK economy continues to recover as job growth booms

The pace of Britain’s economic recovery continued to quicken at the start of 2015, and job growth continues to rise at the second fastest rate since records began.Continue reading→