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Economy

11
May

John Lewis profits suffer £36m dent from minimum wage error

Posted on in Economy
John Lewis profits have been dented by £36m after a payroll error that breached minimum wage rules. The retailer, which owns Waitrose supermarkets as well as its namesake chain of department stores, said it was working with HMRC to examine its practice of pay averaging, which aims to smooth out mon... Continue reading
Last modified on
Hits: 825
02
Jun

2015 Election Special

Posted on in Economy
The dust has now settled following the General Election and as we now have a majority Conservative government in power, the policies they have been proposing can now be enacted without seeking the compromise of coalition partners and George Osbourne has announced the date for the second budget of th... Continue reading
Last modified on
Hits: 1510
02
Jun

Election Special - 'Tax-lock'

Posted on in Economy
David Cameron pledged to introduce a new law within the first 100 days of a Conservative government (via the second Finance Act it is thought) to prevent any rises in income tax, VAT or National Insurance during the next Parliament. This pledge would impose a five-year ‘tax lock’ and will guarantee ... Continue reading
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Hits: 1341
02
Jun

Election Special - Personal allowances and tax rates

Posted on in Economy
Up until 2015–16, there were three main personal allowances, the availability of each allowance was determined by reference to date of birth of the taxpayer, rather than their age, in the tax year. From 2015–16, there are only two categories of personal allowance one for those born before 6 April 19... Continue reading
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Hits: 1300
02
Jun

Election Special - Inheritance tax

Posted on in Economy
This area has seen little change over recent years with the current nil rate band at £325,000, there having been no change since 6 April 2009. Current legislation intends to maintain this level until at least 2017–18. The Conservative manifesto indicates an intention to increase the "effective" inh... Continue reading
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Hits: 1120

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News Categories

Tax (37)
PAYE (2)
Economy (9)
VAT (9)
LBW News (9)
Accounting (19)
Payroll (11)
Industry (3)
Savings (2)
Pensions (2)
Landlords (1)
Marketing (1)

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