Budget 2017: Philip Hammond could raise the pensions Lifetime Allowance to fund social care and end inheritance tax discrimination to improve the nation’s finances March 1, 2017 The weeks leading up to George Osborne’s Budget statements were filled with frenzied speculation. Famed for his tinkering, the former chancellor’s Budgets enshrined a number of eye-catching and popular reforms, including landmark pension freedoms, and some not so popular ones, such as a reduction in the amount an individual can put into their pension and [...]
Government raises awareness of workers’ rights ahead of minimum wage increase February 27, 2017 The government is preparing for the upcoming increases to the national minimum wage and living wage by kicking off an awareness-raising campaign today. The new initiative aims to increase low-paid workers' understanding of their rights to fair pay, following a poll showing that workers earning less that £15,000 a year were confused about what their [...]
Ladbrokes Coral loses £71m tax avoidance court case after long standing battle with HMRC February 25, 2017 Bookmaker Ladbrokes Coral has lost a £71m tax avoidance court battle with the taxman after using a once-legal loophole to minimise its tax bill. Ladbrokes drafted in Big Four beancounters Deloitte in 2008 to create a scheme that artificially manufactured a fall in the value of the shares of one of the group subsidiaries. This generated [...]
HMRC hits back at suggestions by Andrew Tyrie of heavy handed tactics in cracking down on tax avoidance February 25, 2017 Tax authorities have dismissed claims by the chairman of the Treasury Select Committee that it acted in a heavy handed manner, causing people "very severe financial distress". Andrew Tyrie has written to chancellor Philip Hammond to highlight concerns about the way HM Revenue & Customs (HMRC) cracked down on people who had arranged their financial affairs by using tax [...]
Editor’s Notes: Lloyd’s has bigger things to worry about than staff nipping out for a drink February 16, 2017 When I started working at a Westminster PR firm eight years ago, I had to learn how to drink at lunch. It wasn’t exactly a hardship. We were a small office (just three people when I joined) and every day we would decamp to the Italian next-door and see off a few bottles of red. [...]
Argos fined £1.5m for not paying workers the national minimum wage February 16, 2017 Home Retail Group has been fined £1.5m for not paying 37,000 Argos workers the national minimum wage. The business said it was paying back current and previous workers £64 each, with the total cost coming to £2.4m. If the company pays back HM Revenue and Customs within 14 days, it will only have to pay £800,000. Read [...]
Millennials: The unlikely group supporting Britain’s SMEs February 16, 2017 The Enterprise Investment Scheme (EIS) is growing with spectacular speed. Since its inception, £14.2bn has been invested through the scheme according to HMRC statistics, providing much needed capital to Britain’s entrepreneurial businesses. As well as providing opportunities for companies to gain early stage funding, EIS also provides many benefits for investors, and our research shows that [...]
Debenhams outed for not paying nearly 12,000 workers the national minimum wage February 15, 2017 Department store Debenhams has been outed for not paying its workers the national minimum and living wage. According to the department for business, energy and industrial strategy (BEIS), Debenhams underpaid 11,858 workers by £134,895 in total. Read more: Why the UK is falling out of love with fashion Debenhams said a payroll error has caused the problem and [...]
Pimlico Plumbers boss Charlie Mullins wants to help out with the government’s review of modern employment February 15, 2017 Pimlico Plumbers boss Charlie Mullins wants to get involved with the government's review of modern employment – after losing an appeal against a former worker last week. The plumbing boss has requested an "urgent" meeting with Matthew Taylor, Tony Blair's former adviser and head of the government review, in the wake of the Appeals Court ruling [...]
This trendy breed’s about to overtake Labradors as Britain’s most popular dog February 12, 2017 Bye-bye Andrex puppy, hello bat-eared Frenchie. The Labrador, long the country's favourite doggo, is about to be overtaken by a breed a little more on-trend and probably familiar to many a Londoner. The French bulldog has increased in popularity in recent years which many put down to the numerous celebrity owners of the pups (others might say [...]