Remain-supporting former minister strikes optimistic note on post-Brexit economy

Remain-supporting former minister strikes optimistic note on post-Brexit economy

Former Conservative Treasury Minister, Lord Jim O’Neil has told the BBC that gloomy predictions for the post-Brexit UK economy are likely to be ‘dwarfed’ by global growth figures surpassing expectations. He said: “I certainly wouldn’t have thought the UK economy would be as robust as it currently seems. “That is because some parts of the country, led by the North West, are actually doing way Read more…

Millennials set for ‘inheritance boom’… but not until the 2030s

Millennials set for ‘inheritance boom’… but not until the 2030s

A new report from think-tank, the Resolution Foundation, predicts that so-called ‘millennials’, those aged between 17 and 35, will receive the biggest inheritance of any post-war generation from their baby boomer parents and grandparents. The think-tank estimates that the average value of inheritances will more than double over the next two decades, peaking in 2035. By this point, the average age of beneficiaries would be Read more…

Ban on passing credit card fees on to consumers hits small businesses in the pocket

Ban on passing credit card fees on to consumers hits small businesses in the pocket

A ban on passing on charges from credit card providers to consumers, which came into effect last month, is hitting small businesses in the pocket. Businesses are now faced with the option of either increasing prices for all customers to cover the charges or taking a hit to their own bottom lines. Before the ban came into force, the Government said the “rip-off card charges” Read more…

Excuses, excuses: HMRC reveals top late tax return apologies

Excuses, excuses: HMRC reveals top late tax return apologies

HM Revenue & Customs (HMRC) has once again revealed the worst excuses that taxpayers have given them for failing to meet the 31 January Self-Assessment (SA) deadline. Whilst there are sometimes reasonable excuses for a late submission, such as a serious illness, disability or a serious mental health condition that makes a person incapable of filing their tax return, others can be imaginative. HMRC’s most Read more…

HMRC offers practical support to businesses affected by Carillion’s collapse

HMRC offers practical support to businesses affected by Carillion’s collapse

The start of 2018 saw the somewhat unexpected collapse of one of the UK’s largest construction and contracting businesses, Carillion. Despite winning a number of new public sector bids, including a £1.4 billion contract for HS2, it was revealed in early January that the company would be going into compulsory liquidation. In the months prior to its collapse, the business appeared publicly to be in Read more…

Are you ready for the latest minimum wage rise?

Are you ready for the latest minimum wage rise?

On 1 April 2018, the National Minimum Wage (NMW) and National Living Wage (NLW) will increase for all age groups. Aimed at improving the prospects of young workers, the Chancellor Philip Hammond announced in the Autumn Budget that statutory wage rates would once again increase this year. For those currently receiving the NLW, i.e. anyone over the age of 25, they will see their hourly Read more…