742 posts categorised "Economy"

28 July 2015

The National Living Wage will become law for all workers aged 25 and over from April 2016 - how will it affect your business?

The newly announced compulsory National Living Wage (NLW) will be implemented at £7.20 an hour for those aged 25 and over from April 2016 and steadily rise to over £9.00 per hour by 2020. The NLW is likely to pose significant cost, operational and risk issues for those employers that...

27 July 2015

Turning ON to electric cars

By Nigel Morris, national PwC Fleet Car Consulting group leader Electric cars are no longer just for the eco-friendly, green fingered amongst us. The power, range and breadth of choice has increased greatly over recent years whilst the associated costs and ‘hassles’ of owning one continue to fall. We even...

23 July 2015

Holiday pay - include voluntary overtime as well?

By Chris Perkins In the case of Patterson v Castlereagh Borough Council , the Northern Ireland Court of Appeal has ruled that there is no reason why 'voluntary overtime' (being overtime which an employee is not obliged to perform) may in some cases have to be taken into account in...

22 July 2015

PwC’s latest economic outlook points to continued rise of ‘Generation Rent’ in the Midlands

Whilst house price growth has slowed down in the Midlands in the last year, average house prices are expected to keep growing at around 5.5% for the rest of the decade, according to PwC analysis in its latest UK Economic Outlook report. In the West Midlands: From a 5.9% growth...

Consultation on gender pay gap reporting underway

By Chris Perkins Consultation was launched on 14 July 2015 on regulations to be introduced in 2016 requiring companies with 250 or more employees to carry out an equal pay review and publish their gender pay gap. Section 78 of the Equality Act 2010 (the Act) contains a power for...

21 July 2015

Reward changes arising from the Chancellor's Summer Budget

By Jude McLaughlin The Summer Budget brought one or two surprises for employers and employees, most notably the introduction of a National Living Wage. Read on for a brief summary of key issues for employers and employees. National Living Wage From 6 April 2016, the Government will introduce a new...

Pension changes arising from the Chancellor's Summer Budget

We have now had two weeks to reflect on the announcements that the Chancellor made in his Summer Budget and the impact that these announcements could have in relation to the taxation of pensions. The most fundamental announcement by far, is the Government's consultation on the taxation of pensions in...

15 July 2015

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

Don't worry if you missed our live 'defined benefit pensions' webcast on 9 July 2015, here is the recorded version. We had lots of participation from companies wanting to understand how to deal with a larger than expected deficit due to the current low bond yield environment. And how to...

13 July 2015

UK immigration rules pose further challenges and costs to employers of non-EEA employees moving to the UK

By Rebecca Nordone Changes to the immigration process for non-EEA nationals could lead to additional challenges and costs for employers moving employees to the UK from non-EEA locations, following changes to the issuing of Biometric Residence Permits (BRP) and the introduction of a health surcharge. Non-EEA nationals applying from overseas...

08 July 2015

Budget 2015: PwC comments on the apprenticeship levy for large firms

Chris Kirk, Education Partner at PwC, said, "It is encouraging that the Chancellor has confirmed this government's commitment to apprenticeships, which have a vital roll in ensuring a skilled future workforce. Most large employers already contribute significant time and investment to these programmes. In return for supporting an additional levy,...

Budget 2015: PwC comments on plans to restrict tax relief for pension contributions

Steve Blackmore, pensions director at PwC in the Midlands said: “This makes a complicated pensions tax system even more complicated. An ad-hoc change just disengages business leaders from the role of pensions in their organisations. Senior employees may now not bother saving into pensions. It sends a mixed message into...

Summer Budget 2015: Real Estate outcomes

Following the Chancellor's Conservative Summer Budget announcement, Rob Walker looks at the impact on the real estate industry and some of the key outcomes that could impact you.

Summer Budget 2015: Non-domiciled individuals

Following the Chancellor's Conservative Summer Budget announcement, Alex Henderson looks at the impact this will have on non-domiciled individuals.

Summer Budget 2015: Private business outcomes

Following the Chancellor's Conservative Summer Budget announcement, Nick Farr looks at how it will impact on private business and some of the key outcomes.

Summer Budget 2015: Devolution and decentralisation outcomes

Following the Chancellor's Conservative Summer Budget announcement, Alex Henderson looks at how this has impacted devolution and decentralisation.

Summer Budget 2015: The wider tax debate

Following the Chancellor's Conservative Summer Budget announcement, Mary Monfries looks at what was announced in more detail and how this fits into the wider tax debate.

Summer Budget 2015: Economic outcomes

Following the Chancellor's Conservative Summer Budget announcement, Andrew Sentance looks at how this has impacted the economy.

Budget 2015: PwC comment on central government; Spending Review implications; departmental budgets

Commenting on the implications of the Budget for departmental budgets, the Spending Review and underpinning UK growth: Tina Hallet, head of public sector, PwC, said: "The Budget has flagged productivity and skills plans - the detail will be critical later this week. Dealing with the deficit is as much about...

Budget 2015: PwC comments on Local Government Pension Scheme asset pooling

Steve Blackmore, pensions director at PwC in the Midlands said: “Today’s announcement on asset pooling should go a long way to address the affordability of the Local Government Pension Scheme. The reward for getting this right should add up to £600 million a year across the country. "There are a...

Budget 2015: Office of Tax Simplification gets much bigger mandate

In the Budget book, the Government has said it will establish the Office of Tax Simplification (OTS) on a permanent basis with an expanded role and capacity. The new, expanded OTS will be put on a statutory footing in Finance Bill 2016, and will advise the government on how to...