Rules for simpler energy tariffs introduced

The energy regulator, Ofgem, has banned energy companies from using confusing and complex tariffs. The new rules came into effect on 2 January 2014 and should make it easier for consumers to compare suppliers and choose the best deal. A second wave of rule changes is due to come into effect on 1 April 2014.[…]

Annuities switch for pensioners proposed

Pensioners should be allowed to switch to better annuities and escape poor-value schemes, Pensions Minister Steve Webb has suggested. In an interview with the Sunday Telegraph, Mr Webb said that pensioners should be able to change annuities in the same way homeowners can change their mortgage deals. The proposal would prevent retirees becoming trapped in[…]

Businesses upbeat for 2014

After a positive end to 2013, research has revealed that UK businesses are optimistic at the start of 2014. However, despite this increased confidence, business leaders remain realistic about the challenges ahead. Almost nine out of 10 members of the Institute of Directors (IoD) expect UK GDP growth to be higher in 2014, according to[…]

2014 PAYE update

Real time information Almost all employers should now be using real time information (RTI). This generally requires payroll information to be provided to HMRC ‘on or before’ payment to the employee. In most cases, the payroll software does this automatically. RTI integrates with the new universal credit which is being introduced over several years. National[…]

Economic Update: February 2014

Looking back The UK economy gained momentum throughout 2013 with Gross Domestic Product (GDP) growth exceeding earlier forecasts. A rise in GDP in the first three quarters of 2013 saw output grow more quickly than any previous nine-month period since 2010. Growth of 0.4 per cent and 0.7 per cent in Q1 and Q2 was[…]