Fraud costing pensions sector £6 billion per year
According to research from the University of Portsmouth's Centre for Counter Fraud Studies, fraud and scams are costing the UK pensions sector almost £6 billion a year. The private sector suffers the worst loss, estimated at £4.9 billion per annum. The largest cause...
COVID-19: What help is being provided?
Businesses Support for businesses paying sick pay Legislation is to be brought forward to allow small and medium sized businesses and employers to reclaim Statutory Sick Pay (SSP) paid for sickness due to COVID-19. The eligibility criteria for this scheme is: this...
Budget 2020: Chancellor delivers Budget amid COVID-19 panic
Chancellor Rishi Sunak deliver his first Budget against the backdrop of the coronavirus outbreak. It was also the first Budget since the UK's departure from the European Union. Budget Highlights A reduction in the Entrepreneurs' Relief lifetime limitAn increase in the...
Callum Rigby passes Exam
Callum Rigby who works for Holland & Co Chartered Accountants has successfully passed the Assurance exam with the Institute of Chartered Accountants. " I know that Callum has been spending a lot of time revising for this exam and it's wonderful to see that he is...
Tax Policy: Chancellor urged to take ‘strategic approach’
With the 2020 Budget soon approaching, business groups have urged Chancellor Rishi Sunak to take a new approach to making tax policy. The Institute for Fiscal Studies (IFS), the Chartered Institute of Taxation (CIOT) and the Institute for Government (IfG) have written...
IR35 enforcement to be lenient in first year
In April 2020, changes to the off-payroll working rules (IR35) will come into effect. Who the rules apply to You may be affected by these rules if you are: a worker who provides their services through their intermediarya client who receives services from a worker...
New rules for overdraft fees
The Financial Conduct Authority (FCA) has confirmed it will introduce new rules in April 2020 that will make the overdraft fees simpler for users. According to the new rules, overdraft users can only be charged a simple annual interest rate. Therefore, no additional...
Business confidence in UK rising
UK business confidence bounced back in January after the election of a majority government saw political uncertainty recede. This comes from a survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW). See ICAEWs reports here. Business...
Household Debt Extreme High
Average household debt in the UK is now higher than during the 2008 financial crisis, according to a study by the Trades Union Congress (TUC). The TUC have claimed that average household debt is currently 31% above its peak before the financial crisis. The study...
Phishing Emails – HMRC Issue Guidance
HMRC have issued guidance on understanding the difference between genuine Revenue contact and phishing emails. Criminals use phishing emails to try to obtain taxpayers' personal or financial information. HMRC stated that these emails often contain a link to a fake...