Business News

Scottish income tax changes approved

Scottish income tax changes approved

The Scottish government has approved an overhaul of the Scottish income tax system, which will introduce new rates and bands from 6 April 2018. Under the new system, most taxpayers in Scotland will fall into one of 5 income tax bands, following the introduction of 2...

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More workers aim to become self-employed

More workers aim to become self-employed

The number of workers in the UK who plan to become their own boss has almost doubled in the past year, according to research. Aldermore polled 2,003 adults and found that 29% aim to start their own business in the future, up from 15% in 2017. Some 18% of those intend...

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Firms urged into agency worker rethink

Firms urged into agency worker rethink

The majority of firms that use agency workers have maintained or increased their use in the last 5 years, according to research. A survey by the Resolution Foundation of 500 firms found that 43% had increased their share of agency workers since 2012, and 46% had kept...

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Tax-free childcare fully rolled out

Tax-free childcare fully rolled out

The government has announced its tax-free childcare scheme is open to all eligible families, almost a year after it was initially launched. Working parents who earn more than £120 a week and less than £100,000 a year are eligible for the scheme if they have children...

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First-time buyers soar to 11-year high

First-time buyers soar to 11-year high

More first-time buyers took out mortgages in 2017 than any time over the last decade, according to research. A report by UK Finance showed that a total of 365,000 first-time buyer mortgages were completed last year – up 7.4% on 2016 and the highest number since 2006....

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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...

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Record number of tax returns submitted on time

Record number of tax returns submitted on time

A record 10.7 million self-assessment tax returns were filed before the 31 January 2018 deadline, according to figures published by HMRC. Of around 11.4 million people who were required to submit tax returns for the year 2016/17, 93.5% successfully met the midnight...

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Self-Assessment Deadlines Loom

Self-Assessment Deadlines Loom

The deadline for submitting your self-assessment tax return on paper is midnight 31 October 2017. Those choosing to file a paper tax return must fill in form SA100. Before you begin, you should have the following information (plus your national insurance number) to...

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Inflation at its highest since 2012

Inflation at its highest since 2012

Inflation is at its highest rate since 2012, due to a rise in food and transport prices. The Consumer Prices Index (CPI) measure of inflation increased to 3% in September 2017, up from 2.9% in August. The September inflation figures are significant as they are used to...

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