Industry News

Multinationals to be required to disclose tax affairs

The European Union (EU) has unveiled new plans that will require large companies to reveal their tax affairs as part of an effort to reduce corporate tax avoidance. The rules, presented by the European Commission, will affect multinationals that generate £600 million or more in sales, and come after the criticism of the use of […]

UK economic growth ‘softened’ in first quarter of 2016, suggests BCC

A survey carried out by the British Chambers of Commerce (BCC) has revealed that the UK’s economic growth continued to soften during the first quarter of 2016. The BCC’s Quarterly Economic Survey, which is based on over 8,500 firm responses, suggested that key indicators for the services sector fell during the first quarter. The survey […]

Initial rush to cash in pension pots ‘has ended’, says regulator

There has been a gradual decline in the numbers of people releasing cash from their pension pots early, a year after rule changes allowed them to do so, according to a report published by the Financial Conduct Authority (FCA). Since 6 April last year, savers have been able to release cash from their pension pot, […]

New tax measures come into effect

A number of key changes to tax legislation have now come into effect, following the start of the new 2016/17 tax year. The changes include reforms to the rules on national insurance, with employers no longer required to pay Class 1 secondary (employer) national insurance contributions (NICs) on earnings paid to qualifying apprentices under the […]

MPs warn ‘too few’ understand new State Pension

The Government has failed to make it clear that many individuals retiring on the new State Pension will not receive the maximum rate, MPs have suggested. Data contained within a Work and Pensions Committee report on the matter revealed that just 13% of savers reaching State Pension age will receive the full amount of £155.65 […]