Small business representatives tell the Work and Pensions Committee of their auto-enrolment worries, including clash between adopting system and National Living Wage February 24, 2016 Smaller employers need to act now to understand what is required of them under the pensions auto-enrolment rules, small business representatives have cautioned. Speaking in front of the Work and Pensions Committee this morning, Mike Cherry, policy director at Federation of Small Businesses, pointed out that research by his organisation indicated that that many small businesses [...]
Undercover landlords: One in six renters sublet their home but a third keep it under wraps February 24, 2016 Rents as well as house prices may be rising but tenants are not missing a trick, with more than one in six admitting to having sublet their home, new research today shows. Insurance provider Direct Line for Business said 17 per cent of tenants surveyed said they have rented out part or all of their property to someone [...]
Financial Conduct Authority does not know if it is protecting consumers from mis-selling in the financial services sector, says National Audit Office report February 24, 2016 The Financial Conduct Authority (FCA) is unable show that its actions are effective in reducing mis-selling to consumers, according to a report by the National Audit Office (NAO). The report, which was released today, discovered that the information the watchdog holds is not suitable for showing a link between its actions and complaints. For example, from [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]
Swiss Re income boosted by “absence of natural catastrophes” as it appoints Christian Mumenthaler to replace Michel Liès as chief executive February 23, 2016 Swiss Re, the insurance giant after which the Gherkin was once named, said today that has appointed a new chief executive. The company said Christian Mumenthaler, currently head of its reinsurance division, will step up to the plate on 1 July, after current boss Michel Liès said he was planning on retiring. The news came Swiss Re said [...]
Pensions tax relief cuts: Why the government is vastly over-estimating what it could save from moving to flat rate relief February 23, 2016 In his Budget speech on 16 March, the chancellor is widely expected to announce – potentially quite radical – changes to the taxation of pensions. This will not just be important for pensions professionals. Fundamental changes to the way tax relief is granted could have significant consequences both for members of pension schemes and for those who [...]
Budget 2016: Former pensions minister Steve Webb and Royal London warn chancellor George Osborne that pensions changes would amount to “daylight robbery” February 23, 2016 Britain's largest mutual insurer has warned chancellor George Osborne could commit “daylight robbery” in next month’s Budget with major new changes to pensions. In a new report today, Royal London said a pensions ISA or a flat rate of pensions tax relief would hurt existing savers and discourage future saving. A pensions ISA, which was first [...]
London mayoral election 2016: Conservative candidate Zac Goldsmith earned more than £10m in the last five years, paid almost £700k in taxes last year alone February 22, 2016 Conservative mayoral candidate Zac Goldsmith has today published new details about his tax returns for the last five years, after facing tough questions on his previous "non dom" status. According to a letter released by Goldsmith's campaign from PwC (see below), Goldsmith paid £692,870 in income and capital gains taxes last year, and another £4,573.32 in National Insurance [...]
Britain should vote to leave the EU to take back control of our laws February 22, 2016 At a recent panel discussion at Lincoln’s Inn on whether Britain should stay in or leave the EU, Kate Hoey MP told the audience, “lawyers always have so many different opinions”. She is right: lawyers are also debating EU membership. We have formed a group, Lawyers for Britain, led by Martin Howe QC, for lawyers [...]
GlaxoSmithKline suffers setback as US regulator accepts submission for a generic version of Advair, its biggest-selling product February 21, 2016 Pharmaceuticals giant GlaxoSmithKline has come under pressure after the US drug regulator said it may approve a generic version of GSK's biggest selling product next year. The US Food and Drug Administration has accepted a submission from rival GSK's rival Mylan for a cheaper copy of its asthma drug Advair. Once an application has been submitted it is [...]