In the UK, bank deposit protections are provided through the Financial Services Compensation Scheme (FSCS). The FSCS offers a safety net for consumers in the event that a bank or financial institution fails. Key points about deposit protection in the UK include: 1. Protection Limit:The FSCS protects up to �85,000 per person, per financial institution. For…
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Restricted access to the Winter Fuel Allowance is confirmed
Parliament has agreed that the Winter Fuel Allowance payable 2024 will be limited to pensioners in receipt of Pensions Credits and certain other means-tested benefits.Pensioners who are eligible to claim Pensions Credits and have not done so need to be entitled to Pension Credits for at least one day in the week September 16th to…
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What can we expect from the October Budget?
As the October 2024 Budget approaches, several key tax measures are anticipated based on Labour's manifesto and previous policy announcements. Here's what we might expect: Capital Gains Tax (CGT): It is likely that the CGT rates may be increased, potentially aligning with income tax rates, which could push them up to 45% for property and other…
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New regulations for Online Digital Platform Operators
To comply with the new digital platform regulations effective from 1 January 2024, platform operators must register with HMRC. Here are the key details regarding registration and reporting: Who Needs to Register: Any platform operator facilitating the sale of goods, services, accommodation, or transportation within the scope of the new regulations must register with HMRC…
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