710 posts categorised "Economy"

03 July 2015

Summer Budget 2015: Devolution and decentralisation predictions

Ahead of the Summer Budget announcement, Alex Henderson a Partner in our tax practice discusses what we may see being announced by the Chancellor around devolution and decentralisation. To view Alex's video click play and then choose video 4 from the playlist.

Summer Budget 2015: HR services predictions

Ahead of the Summer Budget announcement, Ben Wilkins, a Partner in our HR services practice discusses what we may see being announced by the Chancellor and how it might impact employers and employees. To view Ben's video click play and then choose video 2 from the playlist. View transcript

01 July 2015

Think about the alternatives to cash that you could use as security

by Steve Blackmore In my previous blogs I have outlined the dangers of over estimating the deficit in your pension scheme, resulting in diverting more cash into the scheme than is actually needed. I have suggested that the deficit itself is challenged by robustly exploring all of the assumptions. Once...

30 June 2015

PwC comments on new GDP data released today

In response to new GDP data released today, John Hawksworth, PwC’s chief economist, said: "Today's revised GDP data suggests that the economy has been growing more strongly over the previous year than previously estimated. In particular, construction output was revised up significantly in both 2014 and the first quarter of...

29 June 2015

Pension scheme deficits now extending further into the future

By Steve Blackmore The latest PwC survey shows that businesses are taking longer to clear pension scheme deficits In my most recent blogs, I have been considering pension scheme deficits, and pertinent to this would be some recent PwC research, which shows that more than half of company pension funds...

23 June 2015

LIVE WEBCAST: How to avoid a painful pension scheme valuation in 2015

Date: 9 July 2015 Time: 10:00 - 10:35 BST If your organisation’s Defined Benefit Pension Scheme has had a valuation recently or is about to face one, you could well be facing a much larger deficit than you might have expected due to the current low bond yield environment. So...

22 June 2015

How do global leaders bolster risk resilience? Ten best practices

What can you learn from how other organisations are strengthening their risk resilience? Best practices may not be where you expect them. They might come from other sectors, regions or organisational types. PwC collaborated with the World Economic Forum to identify and share the experiences of foremost experts and global...

19 June 2015

Advisory Fuel Rates – getting to grips with the ups and downs

By Nigel Morris, national PwC Fleet Car Consulting group leader A recent small increase in pump prices from 1 June 2015 has resulted in a mix of changes in the level of authorised Advisory Fuel Rates (AFRs – see more details below). Nearly all of the rates have changes and...

Defined Benefit deficits: challenge the assumptions

There is a real risk that companies pay more cash than they need to make good a deficit in their defined benefit pension scheme. One of the biggest reasons for this is that the deficit itself may be overstated.

What do organisations need to know about Big Data

Why do we need Big Data Analytics? Every organisation collects data, but very few are harnessing the most value from the information their data offers. Big data analytics is needed to create smarter and leaner organisations which can have cross channel conversations and prepare organisations for the future. Big data...

18 June 2015

Pensions: EIOPA quantitative assessment and stress tests

On 11 May, the European Insurance and Occupational Pensions Authority (EIOPA) launched a Quantitative Assessment exercise and an EU-wide stress test for DB pension schemes. Both these exercises involve gathering data from pension schemes across Europe. The Pensions Regulator (TPR) is responsible for collating this information for UK Schemes and...

Cyber security and risk: refresh your perspective with four key steps

Internal weaknesses are as dangerous as external hackers when it comes to cyber threats. External threats regularly grab the media headlines. These malicious threats cause real damage (on average, £3.98 million per incident for organisations with annual revenues of £676 million) as demonstrated last year with several high-profile breaches. Organisations...

PPF levy bandings for 2015/16 - how to contest or improve your score

The Pension Protection Fund (PPF) has started contacting employers with their mean insolvency score for the 2015/16 levy year. You might have been contacted recently, or will be shortly. Should you wish to contest the score, it is in your interest to launch the process now, rather than waiting for...

08 June 2015

Are you due another (painful) pension scheme valuation?

By Steve Blackmore If your organisation’s Defined Benefit Pension Scheme has had a valuation recently or is about to face one, you could well be facing a much larger deficit than you might have expected due to the current low bond yield environment. So how can you manage it to...

04 June 2015

Automatic Enrolment rule changes - What should employers be doing now?

Since October 2012, when the first employers went into the new Pension Auto Enrolment arrangements, some 5.1 million workers have been enrolled into qualifying pension schemes. This year sees the three year anniversary of the first stagers with many of the largest employers now turning their attention to re-enrolment. Now...

HMRC project - tax deductions on defined benefit pension contributions

As you may know, HMRC has recently launched a risk assessment project for Large Businesses to identify the extent of incorrect corporation tax deductions being made for defined benefit pension contributions. Some of the penalties that may arise from this could potentially be quite hefty, and it is paramount that...

03 June 2015

Are you getting the most from your Cloud?

A significant number of our Midlands clients are now adopting emerging technologies. One of these is the Cloud. But many are investing in it without a clear plan aligned to their broader business and IT strategies. This has meant they aren’t getting the real benefits which Cloud can bring, such...

01 June 2015

Changes to Class 2 National Insurance contributions

The recent Budget in March 2015, announced plans to abolish Class 2 National Insurance contributions (NICs) next year. But in the meantime, the way those contributions are collected is changing. Class 2 NICs are paid by the self-employed and members of partnerships at a flat rate of £2.75 a week...

29 May 2015

RECORDED WEBEX: Equity plan compliance - getting it right

On Thursday 7 May 2015 we held a live webex on the topic of "Equity plan compliance - Getting it right". During this webex we discussed helpful hints and tips on registering your share arrangements and how to complete the new online reporting templates successfully. As you may already be...

Non-UK residents selling UK residential property

Since 6 April 2015, non-UK residents selling UK residential property have needed to tell HMRC about the sale, and possibly pay UK capital gains tax (CGT). CGT is payable by all UK resident taxpayers on the disposal of certain assets, such as shares, rental properties, and businesses. But up until...