Nearly a third (29.9%) of small and medium-sized enterprises (SMEs) are concerned that skills shortages are impeding growth, according to research from the Federation of Small Businesses (FSB). The FSB’s latest Small Business Survey reveals a widening skills gap in the workplace, with the construction and computer services industries hit hardest. The survey of nearly […]
Nearly two thirds (63%) of UK adults are unaware of the tax free savings allowance one week before the launch of New ISAs (NISAs), according to research from MoneySuperMarket. The survey by the comparison site reveals that 32 million people do not know about the introduction of NISAs. Of those that have heard of them, […]
High growth small and medium-sized enterprises (SMEs) are reluctant to seek finance from banks to fund growth, a study by the Institute of Chartered Accountants of Scotland (ICAS) has found. The study found that high growth SMEs are “highly reluctant borrowers” because of their lack of trust in banks. Many firms also said they were […]
There is widespread support for government proposals to provide free retirement guidance but more than half of over-55s think it should come from an independent, consumer body. Chancellor George Osborne announced plans at the 2014 Budget to guarantee all retirees with a defined contribution pension “free, impartial, face-to-face advice”. Retirement “advice”, which is regulated, was […]
The average UK student is short by £277 each month, according to consumer website Save the Student. The National Student Money Survey found that the average student spends £735 per month but only receives £458 in student loans. Just 1 in 6 (16%) of students have a part-time job to meet the monthly shortfall, while […]
Half of small and medium-sized enterprises (SMEs) that need employers’ liability insurance don’t have it, according to research by AXA Business Insurance. Employers’ liability cover is a legal requirement for all businesses that employ staff and protects them against employee claims for injury or illness sustained while working for the business. The research also found […]
The changing face of the BVI The BVI has long been recognised as the ‘go-to’ domicile for the incorporation of offshore companies. There is no question that this can be attributed in large part to the basic tenet of the jurisdiction being tax neutral, highly cost efficient and offering a good degree of privacy […]
Employers will have more choice over the type of workplace pension scheme they offer after proposals for collective schemes were announced during the Queen’s speech. The Private Pensions Bill enables the introduction of Dutch-style collective defined contribution (CDC) pensions, which allow thousands of individuals to contribute to an industry-wide collective pot. This larger pot can […]
The government has committed an extra £100 million worth of funding to a scheme designed to boost UK manufacturing, the Business Secretary Vince Cable has announced. The extra funding will go to the Advanced Manufacturing Supply Chain Initiative (AMSCI), which aims to help UK supply chains achieve world-class standards and encourage major new suppliers to […]
One in 10 higher rate taxpayers are missing out on pension tax relief worth £2,500 a year, a survey by Prudential has found. The survey of 302 higher rate taxpayers found that 10% do not make a personal contribution to a pension. The research also revealed that: the average annual salary for higher rate taxpayers […]
The amount that customers can invest in Premium Bonds will rise from £30,000 to £40,000 a year on 1 June 2014, National Savings and Investments (NS&I) has announced. The increased investment limit will give investors more chances to win tax-free prizes. The change was initially announced in this year’s Budget and is designed to help […]
The average price of UK homes rose 0.7% in May 2014, slowing slightly from the 1.2% increase in April 2014, figures from Nationwide reveal. Annual prices increased 11.1% in the year to May 2014 compared to from 10.9% in the year to April 2014. The average house price has risen from £183,577 in April 2014 […]