Bank of England loose cannon

In the past the Bank of England has usually confined its public utterances to periodic pronouncements from the Governor,and has disdained to engage in populist discussion. However, its chief economist, Andy Haldane, has recently broken cover, with results which do...

HMRC’s ‘snooper computer’

The ‘Connect’ computer system created by HM Revenue & Customs to assist in identifying people who are paying less tax than is due is being used for the first time in the current tax year. Instead of relying purely on information provided by taxpayers through their...

School fees planning

Parents wishing to give their children the benefit of a private education face startling costs.  The average fee for a boarding school is over £30,000 a year for a single pupil, and for day pupils over £17,000. Then there are the costs of extras such as clothing and...

Lifetime ISA penalties deferred

The government has announced that the penalties resulting from the withdrawal of funds from LISAs before age 60 or for purposes other than the purchase of a first home will not apply until the tax year 2018/19. However, the Financial Conduct Authority has warned that...

The writing on the wall

HM Treasury has issued a new factsheet titled “Ways to save in 2017”, which describes Premium Bonds and the various forms of ISA but omits any reference to pensions. A similar factsheet issued in 2016 contained no such omission, and this has prompted suggestions that...

Three minutes with…

…Carl Mountain, Consultant. Summarise what you do in one sentence: I provide financial planning advice to individuals. What does a typical work day look like for you? I spend the day seeing clients or speaking with them on the phone or email.  My role is to help...

The Autumn Statement in brief

The new Chancellor’s Autumn Statement was brief, and Philip Hammond made clear that this will be his last. He does not favour the idea of flagging up in advance changes which are likely to be formalised in the Spring Budget. Nevertheless, the Statement provided food...

Statutory Sick Pay (SSP)

Statutory Sick Pay (SSP) is £88.45 a week for up to 28 weeks. You need to qualify for SSP and have been off work sick for four or more days in a row (including non-working days). You can’t get less than the statutory amount.  You can get more if your company has a...

Fair dismissals

You must have a valid reason for dismissing an employee. Valid reasons include: their capabilty or conduct redundancy something that prevents them from legally being able to do their job, eg a driver losing their driving licence There could be other fair reasons too...

Leaving the European Union

On 23 June the UK voted in the EU Referendum to leave the European Union. While it’s not clear yet how, when or what amendments will be made to workplace law, it is possible to predict those areas that are the most likely to change.  The following areas could see...