Employees warned against pension opt-outs

Opting out of a workplace pension could cost employees almost £542,000 in savings throughout their working life, estimates from Aegon show. From 6 April 2019, auto-enrolment minimum contributions are set to rise from 5% to 8% of the worker's qualifying earnings. This...

Think tank calls for tax relief reform

A think tank has urged the Government to carry out a radical reform of tax reliefs, to tackle intergenerational unfairness. Research published by Bright Blue recommended creating a new Office for Fiscal Responsibility, which would pursue tax simplification and examine...

HMRC delays self-assessment penalty notices

Taxpayers who missed the January 2019 self-assessment deadline could see increased fines because of a delay to penalty notices. Individuals who did not file their 2017/18 self-assessment tax return by the deadline at midnight on 31 January 2019 will receive an initial...

Parents slow to embrace tax-free childcare

More than 91,000 families in the UK took advantage of tax-free childcare in December 2018, the latest government statistics have revealed. Tax-free childcare provides help with childcare costs for working parents who earn more than £120 a week and less than £100,000 a...