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Tax contribution from UK businesses up in 2018/19

Analysis of government data by a body representing British businesses has found that together UK firms paid £196 billion in taxes in 2018/19.

In 2017/18, the total bill was £188 billion.

At the current rate, the CBI says, UK firms are contributing 27% of tax revenue, in the form of corporation tax, National Insurance contributions, business rates, fuel duties, and assorted other...

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Quarter of women over 55 have no private pension

One in four female homeowners over the age of 55 have no private pension, according to research from SunLife.

In a poll of more than 1,000 homeowners over 55, 24% of women said they had no savings stashed away in a private pension, compared to only 6% of men.

The study also showed that 22% of women believed they were financially worse off at this stage of their lives than they...

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Audit industry shake-up gathers momentum

The Competition and Markets Authority (CMA) has thrown its weight behind MPs who have called for a break-up of audit and consultancy services.

Earlier this month, the Business, Energy and Industrial Strategy Committee highlighted a conflict of interest between audit and consultancy services offered by the Big Four.

The CMA has added fuel to the flames by publishing its final...

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HMRC clarifies ‘tax avoidance’ stance

Contractors who declared to HMRC what they received through disguised remuneration schemes over the last 20 years can settle their bills on the terms offered before the rules changed in 2017.

Since April 1999, up to 40,000 members of these schemes were paid in loan advances, rather than salary, and paid less income tax as a result.

The Revenue wrote to those affected earlier this...

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Increasing state pension age fuels jobs market growth

Increases in the state pension age are believed to be partially responsible for the UK's employment rate reaching its highest rate since records began in 1971.

According to the Office for National Statistics (ONS), the employment rate in the UK reached 76.1% between December 2018 and February 2019.

Men in employment hit 80.5% in the three months to February 2019, while women in...

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