Industry News

Government launches new taskforce to combat economic crime

The government has launched a new economic crime taskforce, which will work to combat fraud, bribery, money laundering and corruption. The government estimates that economic crime costs the UK ‘at least’ £14.4 billion per year. In order to tackle this type of crime, a new Economic Crime Strategic Board will be created, and will be […]


Insolvency Service urges savers to ‘protect pension pots from investment scammers’

The Insolvency Service has urged those saving for retirement to protect their pension pots from ‘investment scammers and negligent trustees’. Research carried out by the Service found that criminals use a range of tactics to convince savers to part with their funds, including persuading individuals to access their pension and invest in unregulated schemes. Pension […]


Rising cost of living ‘causing financial concern’ for young people, research finds

Research carried out by NatWest has suggested that the ‘rising cost of living’ is causing financial concern for young people in the UK. NatWest found that 47% of young people are ‘more concerned’ about the state of their finances this year compared to last. They cited the rising costs for essentials, such as food and […]


HMRC extends MTD for VAT pilot scheme to all eligible firms

HMRC has extended its Making Tax Digital for VAT (MTD for VAT) pilot scheme to all eligible businesses. MTD for VAT is set to come into effect from 1 April 2019 for businesses which have a taxable turnover above the current VAT registration threshold of £85,000. As part of the initiative, firms must keep some […]


SMEs ‘waiting 43 days to be paid by government contractors’, research suggests

Research carried out by online business finance supermarket Funding Options has suggested that UK small and medium-sized enterprises (SMEs) have to wait an average of 43 days to be paid by government contractors. Funding Options found that top government contractors took more than six weeks to pay their suppliers in 2017. It warned that late […]


Ban on pensions cold-calling takes effect

From 9 January 2019, the government’s new ban on pensions cold-calling takes effect. Making unsolicited calls in regard to pensions is now illegal, and any business found to be breaking the law will face fines of up to £500,000. Data published by the Money Advice Service recently revealed that as many as eight scam calls […]


Experts call for introduction of ‘pudding tax’ to combat sugar consumption

Public health experts have called for the government to introduce a so-called ‘pudding tax’ in order to help tackle high rates of sugar consumption amongst children. The calls for the introduction of a pudding tax come following the recent publication of research which suggested that the average child consumes 18 years’ worth of sugar by […]