Today, the Supreme Court released the historic PSNI v Agnew judgment. The case relates to police officers who claimed they had been historically underpaid whilst taking holiday. The crux of the issue decided was: how far back a holiday pay claim can be made? What was the existing law? Previously the law relied on the … Continue reading Excess Baggage?
Category: Finance
Speaking earlier on BBC Breakfast, Kwarteng confirmed that after consultation with the Prime Minister, the controversial move would be reversed. Pressure had been growing over the last week from all sides of the political spectrum, as to the logic in cutting the 45% tax rate during a cost of living crisis.
Almost 400,000 people working for over 11,000 real Living Wage Employers throughout the country are set for a vital cost-of-living pay boost, as the new Living Wage rates rise to £10.90 an hour across the UK (£1 increase), and £11.95 an hour in London (90p increase), supporting workers and families. This year’s Living Wage rates have been brought forward in recognition of the sharp increase in living costs over the past year.
The Spring Statement 2022 speech as delivered by Chancellor Rishi Sunak
Tax credits and Child Benefit customers who receive their payments into a Post Office card account have just 2 weeks left to switch their accounts.
From today (Tuesday 8 February), those who are capable of work will be expected to search more widely for suitable available jobs from the fourth week of their Universal Credit claim, rather than up to three months as was previously the case.
As announced in the Autumn Budget, the taper rate – the amount that a person’s Universal Credit is reduced by as they earn more – has dropped from 63% to 55%. Simultaneously, work allowances, the amount eligible claimants can earn before their Universal Credit is reduced, have increased by £500 per year.
The Post Office Card Accounts (POca) scheme was previously set to end in November this year. Following the disruption caused by the pandemic, it has now been extended for 12 months to ensure everyone has the time to make alternative arrangements.
Following its announcement in 2014, this measure increases the normal minimum pension age (NMPA), which is the minimum age at which most pension savers can access their pensions without incurring an unauthorised payments tax charge unless they are retiring due to ill-health, from age 55 to 57 in April 2028.
Three directors have been banned following investigations which found that nearly £100,000 worth of Bounce Back loans had been inappropriately applied for, or misused. The Bounce Back Loan (BBL) scheme ran to March 2021 and provided loans of up £50,000 to help businesses survive the impact of COVID-19.
Raising finance is important in allowing a business to function. In particular, working capital enables the day-to-day operations of the business. The need for this finance was the main focus for all businesses during the pandemic, especially for the smaller ones.
The Home Office has announced a further £3 million to help vulnerable and at-risk EU citizens apply to the EU Settlement Scheme (EUSS).
Workers leaving the furlough scheme and unemployed people over the age of 50 will be helped back into work as part of more than £500m expansion of the government’s Plan for Jobs.
Vulnerable households across the country will be able to access a new £500m support fund to help them with essentials over the coming months as the country continues its recovery from the pandemic.
The Chancellor has today (7 September) launched Spending Review 2021 (SR21), which will conclude on 27 October 2021 alongside an Autumn Budget and set out the government’s spending priorities for the Parliament.