Category Archives: UK Economy

In those you trust? – Wealth Creation or Wealth Reduction?

freefoto.com Many people at one time or another find themselves in a situation where they want to provide financial assistance to family or friends. This assistance may be temporary are permanent, such as a gift. A common reason these days …

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Is Quantative Easing the Answer ?

© Ithica Publishing Services The news that the Bank of England is about to launch another round of Quantative Easing. One of the Monetary Policy Committee’s members, Adam Posen has predicted that “ the future is as grim as forecasts …

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Retirement Planning – will archaic Pension Regulations limit your income in Retirement?

FreeFoto.com In a previous blog we pointed ways around the curbs on income payments from those in a “Capped Drawdown” pension arrangement. If you have chosen not to take an annuity then your pension arrangements will normally come under Capped …

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Retirement Planning – Improve your income from your pension

© Ithica Publishing Services New legislation allows for higher pension payments than currently available in income drawdown. This new way to increase the amount you take from your pensions is termed Flexible Drawdown. As the name suggests this option is …

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Retirement? Don’t put your house on it…

© Ithica Publishing Services A recent report shows more than two million people over 50 are basing their future prosperity on creating capital for their retirement through property, rather than a pension. Most believe they will downsize when they hit …

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PM backing for Business Buddy scheme…

Work experience placements are usually the reserve of fresh-faced students – but your next ‘workie’ might be an entirely different proposition! That’s thanks to a new ‘Business Buddy’ scheme – backed by PM David Cameron – that encourages MP’s to …

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Tax Tip – Self Assessment Tax Return

Although you may just have started work after your holiday break, do be aware that the deadline for submission of paper self-assessment tax returns is 31st October. The reason for ensuring that you do complete your tax return on time …

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DEBT CRISIS – The current debt crisis impacts both savers and borrowers

Recent reports claim that the recent recession has radically altered public attitudes towards debt and indicates that people are now reluctant to run up large bills on credit cards. If attitudes really have changed that would be welcome. For years …

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Tax Tip – Dividend or Bonus

If you are a business owner should you pay yourself a dividend or a bonus? This depends on a number of factors but you should be aware that the position regarding salary versus dividends has been drastically altered with the …

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HM Treasury get the hump over offshore tax avoidance!

© Ithica Publishing Services A recent deal agreed by the UK Treasury and the Swiss authorities is a body blow for the wealthy. Historically Switzerland has always provided a safe and secure haven and privacy for depositors. However UK residents …

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Tax too taxing for HMRC?

©Ithica Publishing Services According to HMRC, tax doesn’t have to be taxing. Yet thanks in part to an overly complex tax code system, the taxman has missed out on £27bn in the past five years. Stretched to the limit, a …

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New EU directive to hit employers in the pocket

© Ithica Publishing Services If your business employs agency workers, a new EU jobs directive is set to increase your staffing costs by thousands of pounds per year. The directive, which gives agency workers the same rights as full-time employees, …

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‘Stop socialising…or we’ll repossess your house’

Seems a fairly extreme statement doesn’t it? But according to startling news reports, that’s exactly what 2,000 people are now being told every week – in a phone call from their bank. Bradford & Bingley and Northern Rock Asset Management …

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Cloud Cuckoo Land?

When the coalition came to power, they trumpeted the “bonfire of the quangos” which would greatly diminish the number of quangos in operation with a massive savings of taxpayers money. Sadly as recent reports state 151 of the 200 quangos …

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Live the Dream

© Ithica Publishing Services We mentioned negative commentary on self development publications a few blogs ago.  As you may have gathered we do not necessarily concur. However we do agree that one needs to do more than simply buy a …

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Tax to the Max

© Ithica Publishing Services It’s a shock for many people that the true extent of the tax they pay is often far higher than they believe. However this will become clearer shortly as the Chancellor has ordered Treasury officials to …

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Your Disobedient Civil Servant

© Ithica Publishing Services Recent reports that senior civil servants have racked up bills of £1.5M on official credit cards. Expenditure included French lessons, cash withdrawals, holiday snaps, wine and a food blender. There are 230 special payment cards for …

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Tax Evasion and Tax Avoidance

The difference between tax evasion and tax avoidance is that tax evasion is illegal and tax avoidance is not. Or as somebody once put it, the difference is the thickness of a prison wall! Nowadays things are quite so clear, …

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The biggest waste of cash for any business is….

Hiring the wrong people! If you get this wrong it can waste not only cash but resources and opportunity cost. So we suggest:- That you prepare a job description in writing, together with a list of detailed skills required to …

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Support for start-ups

Starting a business is anything but easy – especially in these uncertain economic times. Help is at hand however, and it comes from an unlikely source; the banks. While they seem reluctant to lend financial support at the moment (see …

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