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Thursday, April 16th, 2015
Latest figures from Nationwide building society show that UK house prices increased more slowly in March. Average increases were just 0.1% but some areas of the UK show that house prices are lower than they were in January. Chief Economist at Nationwide, Robert Gardner, said: “While house price growth has moderated across the UK, there […]
Read ArticleThursday, April 16th, 2015
The Confederation of British Industry (CBI) and PwC have released figures from their latest survey of financial services firms in the UK. Director of Economics at the CBI, Rain Newton-Smith, said: “This quarter was a mixed picture for the financial services sector. Firms remained upbeat as profits held up, despite weak growth in business volumes […]
Read ArticleThursday, April 16th, 2015
The Bank of England (BoE) is set to perform its annual stress test on UK banks to establish their ability to withstand another financial crash. Following talks with the International Monetary Fund (IMF) the BoE will be focusing more on external factors over a five year period, major shocks such as Eurozone crises were deemed […]
Read ArticleThursday, April 16th, 2015
The rate of corporation tax has fallen from 21% to 20%, following a series of tax changes which came into effect on 1 April. The reduction means the UK now has the joint lowest rate of corporation tax in the G20. The coalition Government has been steadily cutting the rate of corporation tax, which was […]
Read ArticleThursday, April 16th, 2015
Businesses have given a mixed response to the new Shared Parental Leave rights, which apply to the parents of babies due or adopted on or after 5 April 2015. Under the regulations, eligible new parents are able to choose how to share a “pot” of time off work in order to look after their children, […]
Read ArticleWednesday, April 15th, 2015
According to recent figures on the Purchasing Manager’s Index (PMI), which indicates manufacturing performance, UK industry has seen month-on-month growth for the past two years. PMI surveys are carried out by Markit Economics, based on feedback from selected companies, with the latest results beating expectations in the month of March. Senior Economist at Markit, Rob […]
Read ArticleTuesday, April 14th, 2015
As of 6 April, individuals aged over 55 have been given new pension freedom, allowing them to decide what to do with their savings. The changes allow those entering retirement – around 320,000 individuals per year – to cash in their pension pots instead of having to buy an annuity. While an annuity offers a […]
Read ArticleMonday, April 13th, 2015
New figures from the Confederation of British Industry (CBI) suggest that the British economy expanded by 0.7% in the three months to March, compared to 0.6% in the previous quarter. The CBI expects growth to continue to accelerate in the first half of 2015. Deputy director general Katja Hall said: “The outlook for 2015 looks […]
Read ArticleSunday, April 12th, 2015
The Small Business, Enterprise & Employment Act has received Royal Assent, and became law on 26 March this year. The Act is designed to boost economic growth through the creation of small businesses, improving access to finance and putting an end to exclusivity clauses in zero hours contracts. Business Secretary Vince Cable said: ‘Small businesses […]
Read ArticleSunday, April 12th, 2015
Tax plans being put forward by both Labour and the Conservatives in the run-up to the General Election risk having a ‘long-term malign influence’ on the economy, the Institute for Fiscal Studies (IFS) has warned. Specifically, the think-tank claims that proposals from both main parties to cut tax relief on pension savings have the ‘potential […]
Read ArticleSaturday, April 11th, 2015
Like-for-like retail sales have shown a strong recovery over the past year, according to retail experts. The British Retail Consortium (BRC) and KPMG have released figures showing a 3.2% rise in sales for March compared to the same month in 2014. Food sales in particular show their largest increase since July 2013. But Head of […]
Read ArticleSaturday, April 11th, 2015
Official figures from the Office for National Statistics (ONS) show that the UK’s inflation rate remained at a record low of 0% in March. It is the second successive month that Consumer Prices Index (CPI) inflation has been at zero – and February’s figure was the lowest since estimates of the measure began in the […]
Read ArticleFriday, April 10th, 2015
With spring upon us and a new tax year just beginning, a number of previously announced changes are coming into force. These may affect your personal taxation or business concerns, so be sure you’re up to date with the latest legislation. Here we provide an overview of some of the major changes for 2015/16… Corporation […]
Read ArticleFriday, April 10th, 2015
As political parties continue to put forward their pledges ahead of the forthcoming General Election, the International Monetary Fund (IMF) has warned that the next Government could face difficulties balancing the public finances, forecasting that the economy will still be in deficit in the final year of the next Parliament. At the time of the […]
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