Blog

  • What will leaving the Customs Union mean for my business?

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    When we leave the European Union we will also leave the EU customs union. The question we all want to know the answer to is ‘what does that mean for me?’ Well first, let’s have a quick reminder of what the customs union is. In short, it’s an agreement between European member states that there will be no internal tariffs on goods that move between t...
  • A cautionary tale: the Lazio case demonstrates who cyber criminals are targeting

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    The money has since been traced to a Dutch bank account with no connection to Feyenoord at all. Somebody posing as the club with an official email signature had taken the money and run. Clearly this cyber attack, like most, was driven by the goal of monetary gain and so we can assume that it’s financial teams in organisations that are most at risk...
  • Which factors are contributing to economic growth being so poor?

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    The Office for National Statistics (ONS) has announced that GDP growth is down to 0.1% from last quarter’s 0.4%. This means that the first quarter of 2018 saw the UK economy at its slowest growth since 2012. Rob Kent-Smith, head of national accounts at the ONS, said: “Our initial estimate shows the UK economy growing at its slowest pace in more tha...
  • Record numbers make the most of pension freedoms

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    The people have spoken and they love freedom! Recent figures show withdrawals in the 2017-18 year were worth £6.7bn, the highest figure since the pension freedoms reforms were introduced in 2015. Before the change in legislation, the majority of pensioners would purchase an annuity with their pension pot, which would guarantee them an income for li...
  • How the gender gap hits women’s retirement savings as well as pay

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    A recent study has found women are generally less well prepared for retirement compared to men. The research, carried out by savings company Standard Life, reveals that whilst over half (55%) of men own a pension, this figure falls to just over a third (36%) in women. Even more alarmingly, more than seven in ten (71%) of women stated that they did...
  • Be aware: HMRC payroll investigations on the rise

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    Recent figures released through a Freedom of Information Request have revealed that payroll investigations last year led to HMRC collecting £819 million of additional tax, a figure that represents a year-on-year jump of 16%. It has been suggested that the increase is due to a ‘grey area’ over whether a taxpayer is considered to be ‘employed’ or ‘se...
  • What is the tapered annual allowance and how could it affect you?

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    One of the key advantages of saving for your retirement through a pension scheme is the tax relief you receive on the money you contribute, usually available at your usual rate of tax. The ‘Annual Allowance’ limits the amount of contributions both you and your employer can make to your pension in a year which benefit from tax relief, and is current...
  • What is pound cost averaging?

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    If you’re unclear on what the term ‘pound cost averaging’ means, the simplicity of what it describes is perhaps best demonstrated through an example. Abbie is an investor who has already decided where she wants to make a long-term investment. She also earns money through her job and invests more each month. Abbie therefore has three options as to h...
  • The upsides and downsides of downsizing

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    If your family has grown up and flown the nest and you’re moving closer to retiring, it’s likely that you’ve at least thought about downsizing your home. For some it can be for practical reasons, for others it might be a desire to be closer to their children if they’ve relocated, for others still it might simply be the desire for a change of scener...
  • Google’s £50m tax bill and what it signals for digital firms

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    Headlines involving the finances of huge corporations such as Google, Facebook and Amazon will always attract interest and Google’s latest tax bill is no exception. It also opens up a wider conversation of the taxation of digital firms.The tech giant’s annual accounts reveal that on UK profits of £202.4m, the company will pay corporation taxes of £...