Latest News

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Former Pensions Ministers Steve Webb and Baroness Altmann have issued a warning over government plans to access money from 'dormant' pensions funds to provide funds for good causes. This follows the government's announcement that its existing...
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Lecturers at universities across the country have begun strike action over plans to terminate the defined benefit aspect of the Universities Superannuation Scheme (USS), which is believed to be set to make the average lecturer £10,000 a year worse off...
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The Chair Elect of the Financial Conduct Authority (FCA) has admitted he once had to repay £114,000 in tax plus interest to HMRC after paying into the Ingenious Film Partners 2 investment vehicle. Charles Randell, who is due to take charge of the FCA in...
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The government needs new legislation and cooperation from the financial sector to ensure the Pensions Dashboard is a success, the Department for Work and Pensions (DWP) has said. Speaking at a roundtable discussion to mark the launch of the Which? Pensions...
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Scotland's new income tax bands are to be signed off today (20th February) as MSPs meet at Holyrood to agree the five-band system. This will see new 19p and 21p bands being introduced, while the upper and additional rates will both be increased by 1p. ...
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Sir Philip Green has been warned that he may face another investigation into the state of company pension funds under his control if he decides to sell his Arcadia business empire. The former BHS owner, who divested the struggling retailer for £1 while...
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The complexity of the business taxation system is such that the average small firm in Britain spends 95 hours a year working out the details necessary to file returns, the equivalent of 12 eight-hour working days, according to a study by the Federation of...
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Former BBC Look North presenter Christa Ackroyd is facing a bill for up to £420,000 after losing a legal battle with HMRC. The case concerned whether the presenter's employment status had resulted in her paying too little tax, as she was employed by...
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Former Pensions Minister Steve Webb has warned that curbing pension freedoms is not the answer, in the wake of the row over the poor advice given to members of the British Steel Pension Scheme, who have lost money as a result of making unwise transfers. ...
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Members of the British Steel Pension Scheme have been the victims of a "major mis-selling scandal", according to a new report on the issue by the House of Commons Work and Pensions Select Committee. MPs have claimed "vulture" financial...
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A quarter of the UK properties owned by overseas firms are based in the British Virgin Islands, a BBC study has found. A total of 23,000 properties are owned by 11,700 firms registered in the Caribbean Archipelago, widely regarded as a tax haven. Other common...
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A new land tax could force landowners in Wales to pay for leaving a plot empty under plans unveiled by the Welsh government. The move, aimed at curbing so-called land banking, is one of four measures being considered by ministers in Cardiff after new...
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A Labour government could replace council tax with a new form of funding for local government, the Shadow Local Communities Secretary Andrew Gwynne has said. He told the BBC's Andrew Marr Show that the present system is "broken" and needs either...
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An opinion poll has found two-thirds of voters back the idea of raising income tax by 1p on the pound to ring-fence an increase in funding for the NHS and social care. The Opinium survey for the Observer found 65% of voters would back such a measure, with 77%...
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Changes to legislation on civil partnerships could have a huge impact on pension funds, adding billions of pounds to their liabilities, a study by Royal London and pension consultants Lane Clark & Peacock has concluded. A private member's bill by Tim...
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The majority of bosses of small and medium enterprises (SMEs) will have different retirement plans to the average worker, according to a new survey showing 37% of them believe they will carry on working past the age of 65. This includes 35% who expect to work...
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Alexis Sanchez, believed to be the best-paid footballer in England, has paid a large fine and accepted a charge of tax fraud relating to his time in Spain. The Chilean, who now plays for Manchester United but was at Barcelona and Arsenal when the allegations...
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A survey of professionals working in the pension industry - including actuaries, scheme managers, trustees and solicitors - has found around half of them trust the government to enable collective defined contribution (CDC) schemes to be established. A similar...
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The Taylor Review on the gig economy has brought forth many recommendations that the government has backed, but fails to deal with ongoing issues surrounding taxation and national insurance (NI), according to the Chartered Institute of Taxation (CIOT). CIOT...
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Directors of collapsed building firm Carillion have been grilled by MPs this week, with one of the key topics being the size of the firm's pension fund black hole. A report has claimed that directors ignored the issue when it was first raised in 2012. ...
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The government's Wealth in Britain survey has revealed three-quarters of the UK's 4.6 million self-employed people are making no pension contributions, meaning up to 3.5 million people will either have to rely on the state pension when they retire or...
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The idea that investing in a tangible asset like property is a better way of saving for retirement than a workplace pension is incorrect and arises from a lack of knowledge, Royal London's Director of Policy Steve Webb has said.  Commenting on...
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The government's Wealth in Britain survey has revealed three-quarters of the UK's 4.6 million self-employed people are making no pension contributions, meaning up to 3.5 million people will either have to rely on the state pension when they retire or...
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The NHS and social care in England should be funded via a ring-fenced tax, a new report produced by the Liberal Democrats has argued. A panel of health experts set up by the party concluded a new tax should be brought in to replace National Insurance and add...
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Labour Party Leader Jeremy Corbyn has released his full tax return, calling for Prime Minister Theresa May to do likewise. Mr Corbyn paid £48,079.80 in the 2016-17 tax year. He earned £136,762 in total last year, made up from his MP's salary...