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OTS calls for business tax simplification

The Office for Tax Simplification (OTS) is calling on the government to reform the tax system for businesses at the key stages of their growth. A report published on 16 April 2018 outlines several areas where the taxation of businesses could be simplified and reliefs...

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Over 55’s worried about running out of retirement income

Nearly half of people aged over 55 fear the prospect of running out of money in retirement, research shows. SunLife polled 50,000 individuals and found that 2 in 5 over-55s worry about whether their pension will cover retirement, while 43% are concerned they might run...

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Directors positive about UK economy

Business leaders’ optimism about the UK economy has turned positive for the first time in almost a year, a survey by the Institute of Directors (IoD) shows. The IoD polled 693 company directors and found that confidence in the economy reached 1% in March 2018, having...

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SMEs could save £17,000 with digital accounting

Small and medium-sized businesses that use digital software to help with their accounting process could save 27.6 days a year, analysis by Sage shows. According to Sage’s research, 59% of SMEs use digital software for accounting, while 18% continue to use manual...

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False confidence over pension products

Many retirees have misconceptions about their sources of retirement income, according to research by the Financial Conduct Authority (FCA). In a survey of around 13,000 people, 80% of people who had accessed their pension pots in the last 2 years said they understood...

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Lack of funding holds back 1 in 4 SMEs

1 in 4 small and medium-sized firms missed out on business opportunities in the last year because of difficulty accessing funding, research shows. A survey by Aldermore of 1,004 senior decision-makers in SMEs revealed that 23% had missed out on at least 1 new business...

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Rising overseas exports boost businesses

Businesses that sell goods to overseas markets were boosted by UK exports hitting a record high in 2017, according to the latest trade figures. Data from the Office for National Statistics (ONS) suggests global demand for manufacturing goods and business services...

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Most Brits face working into mid-60s

Most workers in the UK expect to be working part-time after reaching the age of 65, according to a retirement study. Scottish Widows polled 3,535 people and found 51% expect to be working into their mid-60s, while 18% of those claim it’s more out of necessity than...

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5 key tax changes for 2018/19

The 2018/19 tax year is upon us and a raft of new changes have come into force – here’s what to expect: Income tax changes The personal allowance has increased to £11,850 across the UK, and the higher rate threshold is increasing to £46,350 for England, Wales and...

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Late payments affect half of businesses

Almost half of small and medium-sized businesses have struggled with late payments in the last year, according to research by the Institute of Directors (IoD). Of the 787 business leaders surveyed, 48% have faced issues with late payments since April 2017. About 3 in...

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