Scope of trust registration service extended by HMRC

HMRC has expanded the trust registration service (TRS) which requires all UK express trusts to register with the scheme by September. Any trusts set up before 4 June 2022 and now already registered as a taxable trust must be registered with TRS by 1 September 2022....

Savers say £22,500 is ideal retirement income

Over 55s with defined contribution pension who plan to buy an annuity say £22,500 is the ideal retirement income, according to health insurance company Canada Life. Its survey of 506 UK adults above 55 found "little difference" between the sexes, with men looking for...

Auto-enrolment threshold frozen for 2022/23

The Government has opted to keep the earnings trigger for auto-enrolment at £10,000 for 2022/23, which will bring an additional 17,000 savers into pension schemes. The Department for Work and Pensions said the decision reflected the need for a balance between...

4 in 10 workers ‘to work past state pension age’

Just under half of UK workers think they will continue working past their state pension age, according to research Opinium polled 2,000 working adults and found 44% think they will work beyond their state pension age - down from 51% in 2020. Of these individuals, 43%...

BoE raises interest rates to 0.25%

The Bank of England (BoE) has raised the base rate of interest to 0.25%, in response to surging inflation. The Bank's monetary policy committee decided to increase the rate from its previous level of 0.1%, marking the first rate rise since August 2018. The decision...