Finance

self employed persons wallet held in vice

GOVERNMENT PUBLISHES STAIRCASE TAX REPEAL BILL

2nd January 2018

The government has published a draft Bill to repeal the so-called ‘staircase tax’ that has adversely affected businesses in England and Wales. The staircase tax affected businesses with offices on multiple floors of a commercial property. Such businesses had been receiving separate, backdated business rates bills for each floor occupied, provided the areas separating the… Read more »

AUTUMN BUDGET STAMP DUTY CHANGES WILL HAVE ‘MODEST IMPACT’, SAYS LENDER

4th December 2017

In a new report, building society Nationwide has stated that the Autumn Budget changes to Stamp Duty Land Tax (SDLT) for first-time homebuyers will have only a ‘modest impact’ on housing demand. Chancellor Philip Hammond abolished SDLT for first-time homebuyers in England, Northern Ireland and, temporarily, for those in Wales, from 22 November. The abolition… Read more »

Legal & General adds RedArc Nurse support services to its Critical Illness product for new, advised business

29th November 2017

Legal & General has added RedArc support services to all new Critical Illness policies that are sold through intermediaries. The support, which will be known as the Legal & General Nurse Support Service, will enable policyholders to benefit from practical advice and emotional support delivered by a team of qualified nurses, when patients are diagnosed… Read more »

HAMMOND HERALDS VISION OF AN ‘OUTWARD LOOKING, FREE-TRADING NATION

23rd November 2017

Chancellor Philip Hammond’s first Autumn Budget was delivered against a backdrop of economic and political uncertainty, fuelled partly by the ongoing Brexit process. Acknowledging that the UK has entered a ‘critical phase’ of negotiations, the Chancellor set out his vision of a ‘new relationship’ with the European Union – though he was keen to emphasise… Read more »

TUC

TUC Urges chancellor to use autumn budget to ‘end wage squeeze’

20th November 2017

The Trades Union Congress TUC has urged Chancellor Philip Hammond to use next week’s Autumn Budget to put an end to the ‘wage squeeze’ currently plaguing UK workers. Official figures recently published by the Office for National Statistics (ONS) revealed that inflation ‘remained steady’ in October at 3%, with higher food prices being offset by… Read more »

fraud

FRAUD COSTS UK £190 BILLION PER ANNUM, DATA SUGGESTS

15th November 2017

Data published by credit service agency Experian has suggested that fraudulent activity now costs the UK £190 billion per year. The Annual Fraud Indicator 2017 found that fraud in the public sector costs the UK an estimated £40.3 billion, whilst fraud in the private sector costs the UK economy £140 billion. Charities lost £2.3 billion… Read more »

stock market

BUSINESS CONFIDENCE LOW DESPITE RISE IN PROFITS, ICAEW FINDS

7th November 2017

A survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW) has revealed that confidence levels amongst UK businesses are below zero, despite an increase in profit growth. In the fourth quarter of this year, profit growth rose to 4.1%, up from 3.4% in the previous quarter. Such growth is expected… Read more »

self employed persons wallet held in vice

BREXIT VOTE HAS COST UK HOUSEHOLDS £600 PER YEAR SUGGESTS DATA

2nd November 2017

A study carried out by think tank the National Institute of Economic and Social Research (NIESR) has suggested that the Brexit referendum has ‘cost UK households over £600 per year’. The NIESR stated that the Brexit vote caused sterling to depreciate, resulting in sluggish economic growth. The vote also contributed to a fall in living… Read more »

RedArc responds to FCA Occasional Paper Ageing Population and Financial Services

31st October 2017

Following the release of the Financial Conduct Authority’s Occasional Paper – Ageing Population and Financial Services – RedArc’s managing director, Christine Husbands, suggests a third party ‘buffer’ could be beneficial for all parties: “Our experience shows that consumers do not adequately consider the risks of changes to their future personal circumstances such as ill health or mental capacity, which… Read more »