Pension exclusion ‘sees under-22s miss out on £18,000’

Employees under the age of 22 could be missing on up to £18,000 as a result of being excluded from auto-enrolment, a report has claimed. The Department for Work and Pensions (DWP) conducted a review into the Government's workplace pensions scheme back in 2017. One of...

Tax group calls for letting relief transition

Proposed changes to letting relief should be transitionally phased in to prevent landlords from paying significantly higher capital gains tax bills, a tax group has said. Until the end of 2019/20, landlords can claim letting relief of up to £40,000 if they have lived...

HMRC approves first MTD for income tax software

Five software packages that are compatible with Making Tax Digital (MTD) for income tax have been signed off by HMRC. Products include one for individuals to submit digital records for income relating to self-employment and property. MTD for VAT came into force on 1...

Fall in inflation points towards interest rate cut

The prospect of interest rates being cut at the end of the month is edging closer, following a 0.2% drop in the UK's inflation rate last month. The Office for National Statistics said the Consumer Prices Index (CPI) rate of inflation dropped from 1.5% in November 2019...

Over-55s reveal target for retirement

People approaching retirement believe they need an average pot of £114,436 to feel comfortable for the rest of their lives. SunLife asked more than 1,000 over-55s how much they would need to fund a comfortable retirement on top of any income they already receive....