London house prices fall but still almost double national average according to Halifax property index March 7, 2023 London house prices have fallen by almost one per cent from January, but property in the capital still costs £240,000 more than the national average. Halifax’s latest house price index for February showed the rate of annual national growth slowed across the UK, with the average property now sitting at £285,476. In the capital however, [...]
Isa explainer: should you go for cash or stocks & shares? February 23, 2023 Savers have just over four weeks to make the most of this year’s tax-free savings allowance. We look at the different types of ISA available and how to find the one that’s right for you. Individual Savings Accounts, or Isas, were introduced by the government to encourage more people to save and allow savers to [...]
Inheritance tax brought in nearly £600m a month, as experts warn that frozen threshold is punishing taxpayers February 21, 2023 Inheritance tax (IHT)receipts for January 2023 totalled £578m up from £443m in the same month a year ago, according to HMRC figures. It takes the total inheritance tax take for the 2022-23 Financial Year to date to £5.9 billion, £853 million higher than through the same period last year. The total IHT take for 2021-22 [...]
Savers warned of approaching state pension National Insurance ‘top-up’ deadline February 17, 2023 Those with missing years in their state pension contribution record between 2006 and 2017 have until April 5 to make voluntary contributions, an investment platform has warned From 6 April the number of extra years available to purchase drops to the last six tax years Alice Haine, personal finance Analyst at Bestinvest, a DIY investment platform [...]
Analysis: Audit watchdog faces catch-22 in hunt for new chief February 15, 2023 Britain’s audit watchdog is on the hunt for a new chief executive who can face down the Big Four accounting firms after Jon Thompson announced last week he would leave the post to lead the grossly delayed HS2 project. But in choosing a new boss, the newly-merged Department for Business and Trade has a difficult [...]
Leap in business insolvencies as ‘tough start’ to 2023 leads to 52 per cent surge in compulsory liquidations February 14, 2023 Corporate insolvencies rose seven per cent year-on-year in January 2023 with the number of compulsory liquidations up over 50 per cent, according to figures released today. The Insolvency Service said 1,671 companies went insolvent in January 2023, a seven per cent rise on the same month the previous year and 11 per cent when compared [...]
Get expert advice to resolve your tax issues February 14, 2023 When tax issues get complex, give Stewarts a call. The company provides specialist advice to family offices, high net worth individuals and corporate businesses, resolving problems with HMRC confidentially before they become more difficult; and, where appropriate, representing clients robustly before going to court or tribunal. It uses a range of dispute resolution techniques, combined with [...]
FRC chief Jon Thompson to leave audit watchdog to lead HS2 project February 9, 2023 The head of the UK’s audit watchdog, Jon Thompson, is set to step down to take up a new position as the chair of HS2. Thompson has handed in his notice to leave his job as head of the Financial Reporting Council (FRC) and will now serve out his six-month notice period, Sky News first [...]
HMRC delays are hindering UK growth, accounting body warns February 8, 2023 Major hold ups at HMRC are “acting as a drag on the UK’s economic growth,” the head of one of Britain’s top accounting bodies has said. The “unacceptable” delays, caused by backlogs at the UK’s tax authority, “need to be addressed promptly,” ICAEW chief executive Michael Izza said, as he called for the launch of [...]
100,000 civil servants to walk out on Budget Day, union says February 7, 2023 Around 100,000 civil servants are set to strike on Budget Day, their union has announced, amid a campaign of walkouts over pay disputes. The Public and Commercial Services Union (PCS) said it was escalating action after a “lack of movement” from the government over its concerns over pay, pensions and job security. Walkouts will take [...]