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Consumers taking out drawdown pensions ‘without advice’, FCA finds July 19, 2017

Many consumers are taking out drawdown pensions without seeking regulated financial advice, the Financial Conduct Authority (FCA) has warned. The FCA revealed that, before the implementation of pensions freedoms in April 2015, 5% of drawdown was purchased without advice, compared to 30% now. A range of measures to address the issue have been proposed by
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Less than half of businesses have discussed Brexit risks, ICAEW suggests July 19, 2017

A survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW) has suggested that just 43% of firms have discussed the risks that Brexit poses to their business. The ICAEW found that only 29% of businesses surveyed have made Brexit plans. 6% of firms expect a positive Brexit outcome, whilst 40%
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HMRC announces significant changes to Making Tax Digital plans July 19, 2017

HM Revenue & Customs (HMRC) has announced considerable changes to its plans for Making Tax Digital (MTD). The government stated that it has listened to concerns raised by the Treasury Select Committee and business in regard to the pace of change and the introduction of MTD, and is committed to ensuring a ‘smooth transition to
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Extend minimum wage to cover self-employed, says think tank July 13, 2017

Minimum wage legislation should be extended to cover self-employed workers who do not control their own rate of pay, according to a think tank. The Resolution Foundation claims that of the 4.8 million people defined as self-employed, around half earn below the low pay earnings threshold of £310 a week. The group argues that the
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Government establishes new Brexit business group July 13, 2017

The government has created a new business advisory group, comprised of five major UK business groups. The Confederation of British Industry (CBI), the Federation of Small Businesses (FSB), the British Chambers of Commerce (BCC), the Institute of Directors (IoD) and manufacturers’ organisation the EEF make up the new business group, and their director generals will
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