Businesses are in no rush to make investments amid the ongoing uncertainty of Brexit, according to the Institute of Chartered Accountants in England and Wales (ICAEW). More than one in four businesses are delaying investment decisions as the government continues negotiations with the EU. As a result of their collective cautiousness, 61% of those firms[…]
Workers under the age of 25 are missing out on more than £6,000 a year because they are not entitled to the national living wage (NLW). Charity group Young Women’s Trust polled 4,010 people aged between 18 and 30, finding the average young worker is paid £3.45 an hour less for doing the same work[…]
The pension reforms introduced by George Osborne could cost £5 billion and push house prices up in the long term, according to the Office for Budget Responsibility (OBR). The report examined the projected economic effects of a range of the ex-chancellor’s reforms, including the pension freedoms and savings products such as the Help to Buy[…]
Employers with 50 employees or fewer will have up to 100% of their apprenticeship training costs funded by the government. The government has announced more details about its apprenticeship programme and the funding that will be available to businesses that take on apprentices. The proposals relate to the reform of apprentice funding in May 2017.[…]
A system to allow businesses to check and appeal business rates bills has been announced. The aim is to ensure that disputes are settled more promptly. Currently, over 955,000 appeals have been submitted against rating valuations but less than 2% of business rates appeals proceed to a tribunal hearing. The new process is part of[…]
A guide to the Lifetime ISA. Announced by Chancellor George Osborne in Budget 2016 and launching on 6 April 2017, the Lifetime ISA is designed to provide a tax-efficient option for people saving for a first home or retirement. Buying a first home and saving for retirement represent 2 of the most important aspects of[…]
More than 150,000 people have bought a home using the Help to Buy Scheme since its launch in 2013. The mortgage guarantee scheme, which allows lenders to buy a guarantee on mortgage loans, has proved popular with first-time buyers. The Treasury reports that 79% of mortgage completions through the mortgage guarantee scheme were people buying[…]
Auto-enrolment has been a success for larger employers, but the “real test” lied ahead as smaller employers begin to enrol their employees, a report by the Public Accounts Committee has concluded. 1.8 million smaller employers will soon begin the process, but the committee notes that The Pensions Regulator does not yet have access to the[…]
The number of people choosing to become self-employed has continued to grow, making up 15% of the total workforce. Now numbering a record 4.6 million, the self-employed population has increased by 80,000 since 2008. The analysis by the Department of Business, Innovation and Skills also shows that becoming self-employed is proving increasingly attractive to older[…]
The government’s productivity plan has been described as a “vague collection of existing policies” by the Business, Innovation and Skills (BIS)Committee. The committee has questioned whether the plan has enough focus and said that results will not be guaranteed in areas such as skills and education. Plans to increase apprenticeships to 3 million by 2020[…]