EU-Swiss accord to end banking secrecy

The European Union and Switzerland have signed a major accord to end banking secrecy for EU residents and prevent them from stashing undeclared income in Swiss banks.

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Government states that personal tax allowance will track the minimum wage

New legislation, which was announced as part of the Queen’s Speech, means that any future rise in the personal income tax allowance will be linked to rises in the national minimum wage.

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Smaller businesses now affected by auto-enrolment

A new tranche of businesses have been fined for failing to meet their auto-enrolment pension obligations Automatic enrolment of workplace pensions has now come into effect for companies with as few as 30 employees and it will soon embrace all

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Government called to raise awareness of equity release for retirement income

According to a recent poll conducted at the Great Retirement Money Debate (held by the Equity Release Council), many respondents believed that the Government had not effectively promoted the benefits of equity release as a source of retirement income.

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Regulator outlines scope of UK banking probe

The UK’s markets watchdog has set out the issues it will focus on in its investigation into investment and corporate banking competition.

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Banks fined £3.7bn for rigging foreign exchange markets

Five of the world’s largest banks are to pay fines totalling $5.7bn (£3.6bn) for charges including manipulating the foreign exchange market.

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Bankers’ pay cap: should they earn the same as civil servants?

Bankers should be paid no more than civil servants, a former senior advisor to David Cameron has proposed.

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Deutsche Bank mulls leaving UK on EU exit

Deutsche Bank has become the first bank to formally consider what it would do if the UK voted to leave the EU.

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Hopes that fund will help SMEs access the money they need

This month HSBC launched an £8billion fund which will specifically help finance the UK’s small and medium-sized enterprises (SMEs).

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Scottish draft devolution plan “falls short”

Scottish devolution proposals which would force Holyrood to seek Westminster’s consent before introducing new devolved benefits “could be considered or perceived as a veto”, a cross-party committee of MSPs has concluded.

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