News Archives | Page 8 of 8 | Wellden Turnbull Accountants

Saving picks up among UK households

May 21, 2015 Posted by Wellden User

More than two thirds of people in the UK have managed to save over the past 12 months, according to research by Lloyds Bank.

The latest Savings Report reveals that people are feeling increasingly confident in their financial positions and are boosting the amount they are saving as a result.

In the first quarter of 2015 almost 7 in 10 people said they have saved regularly over the past 12 months, up 5% from Q4 2014.

Of the 6,210 people surveyed:

44% saved at least once a month during Q1 2015, up from 37% in Q4 2014
23% have more than 4 times their monthly household income in savings
18% have saved more than £500 in the last month and 9% have save more than £1,000.

Philip Robinson, savings director for Lloyds Bank, said:

“For people who may not be as confident with their current savings habits, it’s important to try and save a small and regular amount each month. This can help to build a strong savings pot over time, which can be increased as circumstances improve.”

Contact us today to discuss your savings options.

Business secretary announces Enterprise Bill

May 20, 2015 Posted by Wellden User

A new Enterprise Bill designed to reduce regulation on businesses by at least £10 billion over the next 5 years has been announced by Business Secretary Sajid Javid.

In his first speech at the head of the Department for Business, Innovation and Skills, Javid announced a host of radical regulatory changes and committed them to the first Queen’s Speech of the parliament on 27th May.

The Enterprise Bill will target independent regulators for the first time, who will be asked to contribute significantly to the target of at least £10 billion in regulatory cuts.

The bill will allow for the creation of a Small Business Conciliation Service that will settle disputes between small and large companies over issues such as late payment.

It will also extend and simplify the Primary Authority system, which allows local authorities to provide businesses with regulatory advice. Under Primary Authority rules, advice given by a local council must be followed by all other councils, preventing businesses from having to comply with different rules.

Business Secretary Sajid Javid said the bill will “sweep away burdensome red tape” and remove “heavy handed” regulators from the backs of small businesses.

Business Minister Anna Soubry added:

“We will be asking businesses for evidence in the coming weeks and months. We want them to be our partners in identifying and scrapping needless burdens at home and in Europe.”

Responding to the government’s announcement, Katja Hall, CBI deputy director-general, said:

“Businesses will welcome the government getting back out of the blocks early by following through on its commitment to cut red tape.”

Contact us today to discuss your business planning.

Company Car Taxation

April 14, 2015 Posted by Wellden User

In our guide we discuss the company car tax rules and how legislation encourages businesses to acquire more environmentally-friendly vehicles.Our guide is intended to help individuals with their financial and tax planning.