The Wrong Tax, Grommet
According to HM Revenue & Customs (HMRC) around 3.5 million people paid too little tax through the Pay As You Earn (PAYE) system in 2013-14, while as many as two million may have paid too much. The average incorrect amount is thought to be around £300.Continue reading
Interest Rates Could Rise This Year
Minutes from the Bank of England’s June Monetary Policy Committee (MCP) meeting show that members voted 9 to 0 in favour of leaving interest rates as they are, at the historic low of 0.5 per cent, but suggest that a rate increase is increasingly likely by the end of the year.Continue reading
House Prices Race Ahead Of Salaries
House prices increased again across the UK in April, taking them some 9.9 per cent higher in the month than during the same time last year and making the typical price of a home £260,000, 10 times the average salary.Continue reading
Inflation Falls To 1.5 Per Cent
Inflation as measured by the Consumer Prices Index (CPI) fell to 1.5 per cent in May, its lowest level in four-and-a-half years and the sixth consecutive month that inflation has been below the Bank of England’s 2 per cent target.Continue reading
More To Be Hit With IHT Bills
According to figures published by the Sunday Telegraph, thousands more families will be required to pay inheritance tax (IHT) this year as an improving economy and rising house prices push them above the £325,000 threshold.Continue reading
Business Investment Set To Rise
In the latest of a series of positive reports about the UK’s economic recovery, the Institute of Chartered Accountants in England and Wales (ICAEW) has upgraded its latest growth forecast to its highest level since before the financial crisis.Continue reading
Unemployment At Five-Year Low
The jobs market continued to improve in the three months to April, with the number of people out of work falling by 161,000 to 2.16 million, bringing the unemployment rate down to 6.6 per cent, its lowest level since January 2009.Continue reading
GDP Back To Pre-Recession Level
The economy has finally clawed its way back to pre-recession levels according to the National Institute of Economic and Social Research (NIESR), having grown by 0.9 per cent in the three months to May.Continue reading
A Way With Cash
Earlier today (June 10) supermarket giant Tesco launched its first current account, offering 3 per cent interest and Clubcard points, while Barclays has announced that it is launching a contactless payments wristband for customers next year.Continue reading
The Country Of Choice
New research has revealed that the UK kept its position last year as Europe’s top destination for international investors and is now the fifth most attractive target for business investment globally. Continue reading
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