Author Archives: myersclark

HM Revenue & Customs is to undergo a major change, combining 170 offices into 13 major hubs. These changes are part of a major restructuring plan to save hundreds of millions pounds but will leave many towns and cities without a tax office.

Deutsche Bank has announced a radical restructuring to restore its reputation and profitability. The investment bank is being split and a number of senior bankers are to leave.

The leading professional accounting body in Britain, the Institute of Chartered Accountants in England and Wales, (ICAEW) has criticised the changes that George Osborne has proposed for buy-to-let tax. The Institute condemns the legislation as an “unthought-through” and expects it will be troublesome for many; forcing some landlords out of business and changing the property unnecessarily.

The Chancellor announced in his Summer Budget, there would be restrictions on the amount of tax relief that landlords could claim. Alongside this, he announced that there would be changes to the tax treatment of maintenance costs for furnished properties.

From Thursday 1 October 2015, the adult rate of the National Minimum Wage will rise 20p, from £6.50 to £6.70 per hour, as recommended by the Low Pay Commission.

In his summer budget on 8 July, the chancellor announced a 7.5% dividend tax with effect from 6 April 2016. This dividend is added to the tax already paid on dividends so if you were previously a basic rate taxpayer, you paid no additional tax on any dividends received. From next April you will pay 7.5% on dividend income over £5,000. The first question you will be asking yourself is ‘should I continue to be drawing dividend or should I be switching to PAYE salary’?

The Chinese Central Bank cut its lending rate by 0.25% yesterday to try and calm stock markets, but this further cut has caused stock value drops in other parts of Asia and overall investor confidence to fall.

China has cut its interest rate by 0.25% following a second day of plunging stock values after the global sell-off triggered by its slow growth.

Degree or no degree and you can probably work out that spending your last £20 on a night out when you need to buy food and two new text books this week probably isn’t your best decision. It is reported that 75% of new students claim budgeting is their biggest headache. We’ve put together a […]

Greece has agreed a bailout deal in principle with its creditors, the European Commission reports. This comes after the Greek Finance Minister, Euclid Tsakalotos, said there were a few issues with their lenders which needed to be agreed before the deal could be finalised. If this deal works Greece will not have to leave the […]