Most savers on course for retirement

Almost three in five people in the UK believe they are saving enough for a comfortable retirement, according to research. Scottish Widows' annual retirement report showed 59% of 5,036 adults are on course to maintain their standard of living when they retire, up from...

1 in 5 sole traders close after one year

A fifth of self-employed sole traders don't survive for more than a year, analysis by the Institute for Fiscal Studies (IFS) shows. The number of self-employed business owners in the UK has grown significantly in recent years, from 3.9 million in 2000/01 to 4.9...

Tax changes impact smaller landlords

Small-scale buy-to-let landlords have been worst hit by tax and regulatory changes to the private rented sector, according to the trade association for lenders. A report from the Intermediary Mortgage Lenders Association (IMLA) shows landlords with one property made...

OTS proposes inheritance tax reform

The Office of Tax Simplification (OTS) has proposed a second set of reforms to the inheritance tax system, to make it easier for taxpayers to understand. These include reducing the current seven-year period at which tax may be due on gifts to five years, and replacing...

MTD and Brexit cause HMRC helpline delays

Business owners calling HMRC's VAT helpline for assistance have experienced increasing delays in the first part of this year, with Brexit and Making Tax Digital (MTD) putting pressure on resources. Correspondence from HMRC to the Treasury select committee shows...