Interserve chairman Glyn Barker prepares to step down June 17, 2019 Interserve chairman Glyn Barker is preparing to step down following deal that saw the struggling outsourcing firm taken over by a consortium of its lenders. The company is working with recruitment search firm Heidrick & Struggles to appoint a successor, Sky News reported. Read more: Interserve went into administration owing suppliers £100m Barker, who was [...]
Fall in super-rich ‘non-doms’ sees tax receipts fall August 8, 2019 The number of super-wealthy UK residents who pay no tax on foreign earnings in Britain has fallen to a record low, causing tax receipts to suffer, HM Revenue and Customs (HMRC) revealed today. Read more: Freeports: Government plans tax-free hubs There were 78,000 non-domiciled taxpayers in Britain last year, down from 98,500 the year earlier, [...]
British Airways settles long-running pensions battle with trustees April 9, 2019 British Airways has settled a long-running battle with the trustees of one of its staff pension schemes in a case that was set to go to the Supreme Court. The trustees of the nearly 25,000 member Airways Pension Scheme said today they had agreed to an out-of-court settlement to the dispute, subject to the approval of the [...]
Home Office tightens golden visa rules after earlier failed crackdown March 7, 2019 The Home Office announced reforms to so-called golden visas for wealthy investors today, following an embarrassing debacle last year when it announced their suspension before being forced to backtrack days later. Under reforms to the Tier 1 (Investor) scheme, applicants will be required to prove they have control of the £2m they are required to [...]
Home Office backtracks on plans to scrap ‘golden visas’ for rich investors December 11, 2018 The Home Office has rowed back on plans to halt visas for wealthy investors just days after the suspension was announced. Last week immigration minister Caroline Nokes announced that the visas would be suspended at midnight last Friday amid fears about money laundering and organised crimes. However, today the Home Office confirmed that the visas [...]
Serious Fraud Office trial against Tesco executives collapses December 6, 2018 The Serious Fraud Office’s case against two senior former Tesco’s executive has collapsed because of insufficient evidence. At Southwark Crown Court this morning Judge Sir John Royce instructed the jury to acquit both defendants, former UK managing director Chris Bush and ex-UK food commercial director John Scouler. The pair had both been charged with one [...]
European Court rules that UK pension lifeboat must lift compensation cap September 6, 2018 The Court of Justice of the European Union ruled today that pensioners should receive at least 50 per cent of the value of their pension in the event that their employer goes bust. The UK’s pensions lifeboat, the Pension Protection Fund (PPF), had capped compensation for those that had lost their pensions when their employers [...]
Child trust funds: Should you trust your teenager with their financial future? September 6, 2018 On the surface, a product that is designed to encourage parents to save money for their children sounds ideal. But child trust funds (CTFs) are riddled with problems. The first CTFs reached maturity at the beginning of this month, potentially giving some 16-year-olds partial control over a big pot of cash. Introduced by the then [...]
The probate debate: How will you be affected by the changes to the unpopular death tax? November 15, 2018 While most of us will be familiar with – or at least have heard of – inheritance tax (IHT), probate fees are a little-known extra cost that many families are forced to confront when their loved ones pass away. Both IHT and probate fees are often referred to as the “death tax” – although the [...]
UK pension liabilities hit £7.6 trillion March 7, 2018 Pension liabilities in the UK grew to a massive £7.6 trillion by the end of 2015, new government data has revealed. Data published today by the Office for National Statistics revealed that the gross pension liability deficit of UK pension providers grew by £1 trillion between 2010 and 2015. Read more: Pension planning is more [...]