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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.
SMEs are collectively losing a total of £144 billion a year through fraud, with £12 billion being lost through payroll.
The Financial Conduct Authority has announced the level at which it will consult to cap early exit charges for consumers wishing to access pension freedoms.
Average HMRC call waiting times have tripled over the last 18 months, resulting in a loss to taxpayers of £97 million last year.
Taking action to secure a financial backup plan? 1 in 5 households would not survive financially if they lost their main source of income through unexpected circumstances.
Fewer employees are seeking financial advice on workplace pensions while around 1.5 million people are unaware of their pension fund choices.