The Future of Income Tax
The electoral politics of income tax The 2017 election manifestos offered little good news on the future of income tax. Judging by the manifestos of the three main political parties, the days of appealing to voters by cutting income tax (and its alter ego, national insurance) are over: The Conservatives repeated their 2015 manifesto promise […]
Tackling the gender pay gap
As new reporting requirements come into effect, a charity for women aged 16-30 on low or no pay, Young Women’s Trust, has called for further action to reduce the gender pay gap. The charity is concerned that pay transparency, which is intended to encourage employers to reduce the gender pay gap, will not be effective […]
Small businesses struggle to stay afloat
Almost one in five of the UK’s SMEs are missing payday in an attempt to keep their heads above water and many business owners are dipping into their own savings to survive, according to a recent survey. The survey was commissioned by the business arm of the utility company npower. It found that against an […]
Another notch up in State Pension Age
An independent review has recommended bringing forward the move to a state pension age of 68. There was a time when men received their state pension from age 65 and women from age 60. Those numbers may still be locked in your memory, but they are heading towards their own retirement. Currently a woman’s state […]
Time to review your salary sacrifice arrangements?
New rules for taxing many salary sacrifice arrangements come into force from 6 April. One of the employment trends of recent years has been to make employee remuneration more flexible. Instead of pay and, if you were lucky, a company car and healthcare, ‘cafeteria remuneration’ has become common. This gives employees the choice of sacrificing […]
Will you be working past the accepted retirement age?
Many people do, according to research by the Chartered Institute of Personnel and Development (CIPD). In fact, more than a third (37%) of respondents out of a total of 1,656 employees surveyed believe that they will have to work past the generally expected retirement age of 65. The CIPD’s Employee outlook: employee attitudes to pay […]
Should millionaires be forced to publish tax details?
The shadow Chancellor, John McDonnell, has said a Labour government would force people earning £1 million a year or more to publish their tax records. McDonnell said the move would help curb tax avoidance and contribute to improved trust between the elites and the rest of society. He expressed hope that more transparency would encourage […]
Financial Planning Opportunities Seminar
Leading fund manager James Sym of Schroders Investment Management provided his thoughts on the implications of Brexit as well as highlighting some opportunities that are available in the European Investment Markets. The seminar also covered the introduction of the new residence nil rate band from April 2017 and its impact on estate and Inheritance […]
Auto-enrolment report provokes call for change
A recent Citizens Advice report has highlighted the problem of people working in multiple jobs and failing to qualify for auto-enrolment despite earning over £10,000 a year in total. Women are more likely than men to miss out on having an auto-enrolled workplace pension, due to the higher likelihood of holding more than one job […]
6th April Tax Year Reminders
Tax year beginning planning can be just as valuable as its more familiar year end counterpart. The run up to 5 April, with the Budget (and often Easter) intervening, can be a frenetic time for personal financial planning. All tends to go quiet once the new tax year begins, but the reality is that there […]
