Government to form single financial guidance body
From an article on 11th October 2016 A single financial guidance service, delivering debt advice, budgeting and pension guidance will be set up by the government. The Money Advice Service will be abolished (as announced at Budget 2016) and the Pensions Advice Service...
Pension reforms to cost UK £5 billion
From an article on 13th October 2016 The pension reforms introduced by former chancellor George Osborne will cost an estimated £5 billion to the UK economy and contribute to rising house prices, according to the Office of Budget Responsibility (OBR). The report looked...
6 million over 50s in debt
An article from the 13th October 2016 Almost a third of people over the age of 50 are dealing with financial debt, repaying an average of £12,000. Saga Personal Finance’s survey of 1000 people aged over 50 found that 29%, or 6 million, are currently repaying debts in...
National minimum wage increases
An article from the 3rd October 2016 Workers earning the national minimum wage (NMW) have received a pay rise as of 1 October 2016. 270,000 workers aged 21 – 24 earning the NMW have seen their hourly wage rise by 25p an hour to £6.95. Those working 35 hours a week...
Home ownership more important than pensions for under 35s
Saving towards a new home is 3 times more important than saving for a pension for under-35s, according to research by Nottingham Mortgage Services. 25% of the over 1000 adults surveyed said that their top priority is raising funds towards buying their first property...
Lack of clarity on apprenticeship levy among businesses
39% of business owners still have no understanding of the forthcoming apprenticeship levy, according to research by the British Chambers of Commerce (BCC). 30% of the 1600 medium-sized businesses (employ between 50-249 employees) surveyed will have to pay a levy of...
People uncertain on when they will retire
More than one third of working adults are uncertain on when they will retire, according to research by Platforum. 30% plan to work either full time or part time beyond the state retirement age, which is currently 65. Uncertainty is higher among women with 39% having a...
New Prompt Payment Code measures announced
New measures to support Prompt Payment Code (PPC) have been backed in a letter sent to PPC signatories from Small Business Minister, Margot James and chief executive of the Chartered Institute of Credit Management, Philip King. The letter confirms that paying invoices...
Gavin Wilson put in charge of the payroll department at Holland & Co Chartered Accountants
Gavin Wilson has been put in charge of the payroll department at Holland & Co Chartered Accountants in Widnes. Gavin obtained a degree in Accountancy at John Moores University in Liverpool where he studied amongst other subjects taxation and advanced financial...
Lifetime ISA details confirmed in Savings Bill
The government has published its Savings Bill covering the details and bonuses to those taking out the Lifetime ISA from April 2017. The Bill confirms individual’s annual contributions of £4,000 per year while receiving a 25% government bonus when funds are put...
