TPR Warns That Changing Your Business’ Name ‘Doesn’t Change Pensions Duties’
The Pensions Regulator (TPR) was warned that businesses cannot avoid their workplace pension responsibilities by changing their company name. TPR claims that some employers are committing offences by creating new businesses, transferring their workforce and...
‘Plastic Packaging Tax’ Coming 2022
The government claims that there will be a so-called 'plastic packaging tax' introduced in 2022. The government has also stated that plastic packaging accounts for 44% of the plastic used in the UK. The UK generates over 2 million tonnes of plastic packaging every...
Register for MTD for VAT before August
HMRC is urging firms to register for Making Tax Digital (MTD) for VAT before the VAT filing date on the 7th August. Revenue & Customs stated that 'many of the 1.2 million businesses affected by MTD', which came into place for VAT periods on...
BCC Warns That Economic Growth is ‘Stalling’
The UK's economic growth is 'stalling' amid a 'manufacturing slowdow', warns the British Chambers of Commerce. The BCC's most recent Quarterly Economic Survey gave evidence that the balance of manufacturing firms reporting improved domestic orders had decreased to a...
Cyber-Attacks on Small Firms
Insurer Hiscox has published data which reveals that 61% of small UK firms have experienced a debilitating cyber-attack in the last year. The data found that the cost of dealing with a cyber-attack has sky rocketed for many small businesses. It also suggested that...
Child Benefit Penalties Refunded to Almost 5,000 Parents
HMRC has repaid £1.8 million in tax penalties to 4,885 parents who were fined for failing to register for the High Income Child Benefit Charge. The High Income Child Benefit Charge is payable by a taxpayer who has 'adjusted net income' in excess of £50,000 where...
Rental Costs on the Rise, Less Young People Moving for Jobs
The Resolution Foundation has carried out research which suggests that young people are 'less likely to move around the country for a better job' as rental costs have risen considerable The research showed that the number of people aged between 25 and 34 that move...
Is a ‘Cashless Life’ the Life for You?
Trade association UK Finance has produced research which suggests that a large amount of individuals in the UK are choosing to live a 'largely cashless life'. Digital technology is 'transforming the world of payment' which allows consumers to 'take advantage' of a...
Data Protection Fines ‘rise by 14% in a year’
Law firm RPC have published research which suggests that the average data protection fine collected by the Information Commissioner's Office (ICO) has risen by 14% since the introduction of the General Data Protection Regulation (GDPR) just last year. The GDPR was put...
‘Increased protection from criminals’ With new Banking Code
From May 2019, a new 'banking code' was implemented to give consumers 'increased protection from criminals'. Consumer group Which? recently revealed that transfer scams cause £674 to be lost every minute. The new code requires banks and payment providers to follow a...
