Sinclair Day

November 8, 2017

Interest rates start to rise

In a widely expected move, the Bank of England’s Monetary Policy Committee (MPC) voted by a majority of 7-2 to increase the Bank Rate from 0.25% to 0.5%. This is the first increase in interest rates since July 2007 when the rate increased to 5.75%.
November 8, 2017

Are your bank deposits protected?

The bank deposit guarantee limit is the amount of money that is guaranteed for savers in UK banks and building societies should the institution become insolvent. The Financial Services Compensation Scheme (FSCS) guarantee amount is currently £85,000
November 8, 2017

HMRC win Littlewoods’ tax case

HMRC has won a landmark case after the Supreme Court overturned an earlier decision of the Court of Appeal. The issue at hand concerned historic overpayments of VAT by Littlewoods (a catalogue sales business) between 1973 and 2004. In 2004, HMRC
November 8, 2017

Delay in withdrawal of self-employed NIC contributions

In a surprising move, the Government has announced that the planned abolition of Class 2 National Insurance Contributions (NICs) is to be delayed for a year. The withdrawal of Class 2 NICs was due to take place from April 2018 but will now take place