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Key Performance Indicators (KPIs)
Key Performance Indicators (KPIs) are widely used across industries in the UK to measure success and performance. Here are some of the top KPIs commonly used in various sectors: Financial KPIs: Revenue Growth: Measures the increase in sales or income over a specific...
Tipping law comes into force
From 1 October 2024, you can be reasonably sure that when you leave a tip or pay a service charge your largesse will benefit the establishment staff, not the business owners. The following update is reproduced from a news story released by the Department for Business...
671,000 young people urged to cash in their government savings pot
More than 670,000 18-22 year olds, yet to claim their Child Trust Fund, are reminded to cash in their stash as HM Revenue and Customs (HMRC) reveals the average savings pot is worth £2,212. Child Trust Funds are long term, tax-free savings accounts which were set up,...
How would a mansion or a wealth tax work?
There is no present mansion tax or wealth tax in the UK, but there is speculation that the Labour Party may be tempted to introduce either or both as part of Rachel Reeves’ first budget to be announced 30th October 2024. Basically, it would involve taxing individuals...
Financial Services Compensation Scheme
In the UK, bank deposit protections are provided through the Financial Services Compensation Scheme (FSCS). The FSCS offers a safety net for consumers in the event that a bank or financial institution fails. Key points about deposit protection in the UK include:...
Restricted access to the Winter Fuel Allowance is confirmed
Parliament has agreed that the Winter Fuel Allowance payable 2024 will be limited to pensioners in receipt of Pensions Credits and certain other means-tested benefits. Pensioners who are eligible to claim Pensions Credits and have not done so need to be entitled to...
What can we expect from the October Budget?
As the October 2024 Budget approaches, several key tax measures are anticipated based on Labour's manifesto and previous policy announcements. Here's what we might expect: Capital Gains Tax (CGT): It is likely that the CGT rates may be increased, potentially aligning...
New regulations for Online Digital Platform Operators
To comply with the new digital platform regulations effective from 1 January 2024, platform operators must register with HMRC. Here are the key details regarding registration and reporting: Who Needs to Register: Any platform operator facilitating the sale of goods,...
Prime Minister’s speech
On August 27, 2024, Keir Starmer delivered a pivotal speech from Downing Street, focusing on the deep challenges the UK faces and the direction his government intends to take to address them. Starmer painted a grim picture of the nation’s state, attributing the...
The importance of pension credit this winter
Pension Credit is a benefit you can claim in the UK aimed at providing extra income to pensioners who are on a low income. You may have heard that the new Chancellor will only pay the winter fuel allowance to pensioners who are receiving Pension Credits. In which case...