Think Tank Claim That Millenials are Living in ‘relative poverty’
In a report published by the Resolution Foundation claims that 22% of 'millennials' (people born between 1981 and 2000) are living in 'relative poverty'. This implies that 22% of millennials are living on less than 60% of median income. It has been highlighted that...
Grants for Buyers of Green Cars Slashed
The European Automobile Manufacturers' Association (EAMA) have reported that sales of electric cars in the UK are being affected by the governments' decision to cut the grant for buyers of 'green' vehicles. The grant for buyers of electric cars was cut from £4,500 to...
Confirmed Implementation of Pensions Dashboards
The government has recently confirmed that the initiative to introduce a pensions dashboard will go ahead. Those saving for retirement will be able to use the pensions dashboard to view information from multiple pensions in one place. It has been stated that the...
MTD for VAT
HMRC's have begun the introduction of their landmark Making Tax Digital (MTD) regime. This means that tax payers will be required to move to a fully digital tax system. With the new system, businesses with a taxable turnover above the VAT threshold of £85,000 must...
‘Stay Vigilant’ Warns HMRC as the Number of Tax Scams Rises
Recently, HMRC put out a statement warning young people in the UK to 'stay vigilant' in order to avoid being victims to tax refund scams. HMRC warns that both young and elderly individuals tend to be targeted by criminals as they are 'more likely to be less familiar...
P11D Forms Due for Submission July 6th
The P11D forms, which report details of benefits and some expenses provided to employees and directors, for the year end 5 April 2019 are due for submission in 85 days on July 6th. Gathering the required information can take some time so make sure you prepare early in...
Government Release new Brexit Advisory Documents
Recently, the government have published additional documents with advice on Brexit for small businesses in the UK. This information is meant to help business owners to 'understand how leaving the EU may affect their business'. The documents provide advice on range of...
UK Factories Stockpiling Frenzy
During March, UK factories stockpiled resources at an explosive rate in preparation for Brexit. This was an unexpected 13-month high, something that has been unseen before in a major rich economy. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI)...
No Stopping UK Shopping
UK retail sales grew by an annual 4.0% in February, which is only a slight decrease from January's 2 year high of 4.1%. With Brexit on the horizon and the threat of an economic collapse within the UK, why are British shoppers still spending so much? Well, with a drop...
NEF Propose Weekly National Allowance
Recently, the New Economics Foundation (NEF) claimed that if the Government replaced the personal allowance of income tax and replaced it with a weekly national allowance, up to 200,000 of the poorest families could be lifted out of poverty. They proposed a weekly...
