State pension “worst in the developed world”

State pension “worst in the developed world”

The state pension in the UK falls behind all other developed countries, according to data from the Organisation for Economic Co-operation and Development (OECD). The UK government pays 29% of average earnings, the lowest of all 24 countries in the OECD. This falls...
SMEs spend 15 days a year on tax compliance

SMEs spend 15 days a year on tax compliance

The average small business in the UK spends £5,000 and 15 working days a year on tax compliance, a report claims. A study of 1,017 SMEs by the Federation of Small Businesses (FSB) found that businesses spent a total of 126 hours on tax administration. The most...
Cash ISA rates begin to rise

Cash ISA rates begin to rise

Interest rates on cash ISAs are finally starting to increase after years of low rates, according to a report by data provider Moneyfacts. The report showed that average rates for instant access ISAs went up from 0.68% in December 2017 to 0.78% in February 2018....
Property proves most popular saving option

Property proves most popular saving option

Nearly half (49%) of Britons believe investing in property is the best way of saving for their retirement, according to figures released by the ONS. Research conducted from July 2016 to June 2017 revealed that 40% of respondents considered workplace pensions to be the...
Employers face stricter rules over workers’ rights

Employers face stricter rules over workers’ rights

A series of major reforms are set to change employment laws and practices for businesses that employ flexible workers on zero-hour contracts, creating possible extra costs for employers. The government announced its Good Work Plan on 7 February 2018, in response to...
More landlords in buy to let arrears

More landlords in buy to let arrears

The number of landlords who have fallen significantly behind on their mortgage repayments rose 20% in the last year, according to data published by UK Finance. In Q4 2017, there were 5,100 buy-to-let mortgages in arrears of 2.5% or more of the outstanding balance,...