Rising living wage set to drive up employer costs

Businesses that employ staff on low pay will have to absorb increasing costs next spring, following changes to the national living wage. The national living wage hourly rate for workers over the age of 25 is set to rise by 6.2% from 1 April 2020 - from £8.21 an hour...

11,000 retirees to lose £3,500 from state pension

Thousands of retirees face being £3,500 worse off in retirement from April, when extra payments to adult dependents come to an end. The adult dependency increase is usually paid to a spouse or civil partner who is below state pension age and financially depends on...

Post-Brexit Budget set for March

Chancellor Sajid Javid has announced a date for his first Budget - on Wednesday 11 March 2020. The fiscal announcement is the first since last month's general election and will be delivered less than a month before the start of the 2020/21 tax year.  It should...

Thousands file tax returns over festive break

Thousands of taxpayers used the Christmas break to file tax returns for 2018/19 through self-assessment. Statistics from HMRC showed that 34,292 taxpayers submitted tax returns between Christmas Eve and Boxing Day. Precisely 22,035 taxpayers filed on 24 December 2019,...

National living wage to rise by 6.2% for 2020/21

The hourly national living wage rate for over-25s will increase from £8.21 to £8.72 for 2020/21. The Low Pay Commission has published recommendations for the new rates, which kick in from 1 April 2020. The increase to the national living wage in 2020/21 will have a...