Latest News

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Millions of Britons could be paying too much tax because they are on the wrong tax code, according to Moneysavingexpert.com's Martin Lewis. He said some people have been able to claim back as much as £10,600 because they were being...
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Pensions were the subject of fewer complaints than any other kind of financial product in the second half of 2017, according to new data from the Financial Conduct Authority. During this period just 1% of complaints related to pension products. Overall, the...
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Fintech firm Origo has predicted that as many as 15 million people could end up using the government's pensions dashboard when it is established before the end of next year. The facility is designed to enable people to keep track of all the private and...
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The current pensions tax relief system should be overhauled with a new 30% flat rate to benefit the self-employed, and low-to-middle earners, the Royal Society of Arts has proposed. Its report argues that pensions tax relief should be shifted away from higher...
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HMRC has been urged to take down a web page telling people how much money they can put into a pension tax-free, after experts from financial services firm Royal London spotted an error. They noted that the site has incorrectly calculated the level of tax...
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A pub landlord from Northern Ireland is facing a jail term after admitting a charge of defrauding HMRC of around £1 million. Bartley Murphy, who runs several businesses in the town of Downpatrick, pleaded guilty to failing to declare all his earnings...
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The pensions industry has made thousands of changes to documents and information for members of the public, in order to make it easier for them to make choices about their retirement options, the Association of British Insurers (ABI) has said. The industry...
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Almost half of Britons aged over 55 worry that they will run out of money before they die, in contrast with the common assumption that the 'baby boomer' generation are all set to enjoy well-heeled retirements. A SunLife survey found 43% worry about...
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English councils taking part in the government's one-year pilot in which they will retain 100% of business rate revenue will see markedly different levels of benefit to each other, the Institute for Fiscal Studies (IFS) has said. It observed that such...
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The planned wave of disruptive strikes by university staff over the summer has been cancelled after Universities UK (UUK) agreed to withdraw plans for pensions that could have left lecturers up to £10,000 a year worse off in retirement.  Instead...
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HMRC has published a list of the ways in which it may send genuine emails and text alerts to taxpayers, following a number of fake message scams. It warned that while it does use these means to communicate with people, customers should be vigilant.  ...
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Pensions Minister Guy Opperman has outlined how the government's white paper on defined benefit (DB) pensions is designed to improve protection for scheme members. Writing for Money Marketing, he said "a small number of high profile cases" of...
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The government's statement that the average British taxpayer is now charged £1,075 less in income tax than in 2010 is only partly true, an investigation by the Full Fact website has found.  Following the latest increase in the personal...
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The majority of Britons would be willing to pay more in income tax in order to increase NHS spending, the latest British Social Attitudes survey has revealed. The growth in support includes a notable rise in the number of Conservative supporters willing to...
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As much as £250 million may be owed by Premier League footballers using tax avoidance schemes that involved investing in film projects, according to a report by the Daily Mirror. The paper claimed 129 players used the services of former Kingsbridge...
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Workers at luxury carmaker Bentley are set to strike over the closure of the company's defined benefit (DB) pension scheme. Members of the Unite union based at the company's Crewe plant voted overwhelmingly in favour of action in a consultative...
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The Financial Conduct Authority (FCA) has set out its plan for the 2018-19 financial year, with a key area of focus being a crackdown on rogue advisors who have sought to exploit pension freedoms by giving bad advice for their own financial gain. It said many...
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Scotland's new income tax banding system carries the risk that a handful of its richest individuals could deprive it of as much as £20 million in revenue by moving to England, the Institute for Fiscal Studies has concluded. This is because all...
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The newly-introduced sugar tax on soft drinks should be used to directly help fund the NHS in Wales, according to Diabetes UK Cymru's Dai Williams. He backed calls from Welsh First Minister Carwyn Jones for some of the £47 million expected to be...
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Formula 1 has been given £187.5 million by HMRC to end a dispute concerning a legal tax avoidance scheme it had been using for a decade. Documents from the sport's owner Liberty Media revealed that the money had been received as a "net tax...
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After three years of pension freedoms, the response of over-55s has been a mixture of confusion for some and increased saving by others, according to a survey by Prudential. The study found 64% are confused by the regulations and 82% do not want the...
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So-called 'sin taxes' aimed at cutting consumption of sugar, tobacco and alcohol are not just means of improving general health, but will specifically help the poor around the world, according to five new papers published in medical journal the...
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Millions of Britons expect to work until they are no longer able to do so because they don't anticipate having enough income to retire on, a survey by Scottish Widows has revealed. The study, carried out and published ahead of the increase in...
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A company that is alleged to have illegally opted its staff out of auto-enrolment is to be prosecuted by The Pensions Regulator (TPR). Recruitment firm Workchain, plus seven of its directors and senior staff, are accused of using a computer program to...
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This Friday (6th April) will see the start of the new financial year and with it a range of new tax measures. People who pay inheritance tax (IHT) bills are among those who will find their burdens ease. Although the threshold for paying IHT remains at...