Financial Planning News

10 years on from Lehmans – what has the Financial Services sector learnt?

The financial crash after the Lehman Brothers collapse saw the biggest global monetary crisis since the end of WW2. It led to a lost economic decade for many – average incomes in the UK still languish far behind their 2008 peak. 15 September 2008, the fall of Lehman sent shockwaves around the world. It was (and still is) the largest bankruptcy of all time. The colossal investment bank fell with $639 billion in assets and $619 billion in debt. Founded in Montgomery, Alabama by German immigrants in 1850, the firm grew towards the end of the 19th century as America Read More

VAT in ‘no deal’ Britain

With just seven months to go, the prospect of a ‘no deal’ Brexit looks increasingly likely. Theresa May recently said that it ‘wouldn’t be the end of the world’ and the fact that HMRC have just released guidance on ‘VAT for businesses if there’s no Brexit deal’ indicates that it is more than a distant possibility, despite HMRC’s assertion that ‘a scenario in which the UK leaves the EU without agreement remains unlikely.’ For most voters, VAT was probably the last thing on their mind when they stepped into the voting booth two years ago for the Brexit vote. Immigration, Read More

3 out of 4 businesses are burdened by compliance

According to recent figures, 75% of British businesses feel weighed down by the burden of tax administration and compliance. It is believed that this has increased considerably in recent years, with some people describing the tax system as positively Byzantine. While the introduction of new tax reliefs and tax breaks has been welcome, the amount of paperwork required to access these reliefs has increased. As a result, businesses are faced with a complex and bureaucratic landscape. Of course some due diligence is seen as necessary but as things now stand, many companies are saying it is just too much of Read More

4 top tips to protect yourself against pension scams

You may well have seen the headlines that victims lost an average of £91k each in pension scams last year. Worryingly, in a recent survey, 32% of pension holders aged 45-65 said they were unsure how to verify if they were speaking to a genuine pensions adviser. Scammers are becoming increasingly sophisticated. They can be articulate and sound highly knowledgeable. They will have designed seemingly attractive offers to try and persuade you to transfer your pension pot or release funds from it, which they will then invest in high-risk investments like overseas property, renewable energy bonds or forestry – or Read More