Bank of England’s Chief Economist warn’s of ‘job threat from robots’
Dec06

Bank of England’s Chief Economist warn’s of ‘job threat from robots’

The Bank of England’s Chief Economist, Andy Haldane has expressed concern about job cuts due to future automation after a Bank of England study found that robots could replace 15 million British workers in the “third machine age”. In terms of numbers, that’s almost half of the UK’s 30.8 million strong workforce. The study found that occupations which faced the highest risk are administrative, clerical and...

Read More
Head in the sand response to tax changes from city firms leaves high earners sleep walking into tax bills
Nov08

Head in the sand response to tax changes from city firms leaves high earners sleep walking into tax bills

New research from Punter Southall Aspire, the workplace pensions and savings experts, reveals huge inconsistencies in the support being provided by financial services companies to their high earning employees to help them navigate through the recent  tax changes. In April this year, the government reduced the lifetime allowance from £1.25m to £1m, and introduced a taper to the annual allowance.  These changes placed a greater number...

Read More
70% of employers ‘overestimate the cost’ of financial protection benefits
Oct27

70% of employers ‘overestimate the cost’ of financial protection benefits

Research from Group Risk Development (GRiD) shows that the majority of employers overestimate the cost of group risk financial protection for their staff (employer-sponsored life assurance, income protection and critical illness). It typically costs less than 0.5% of payroll to offer Group Life Assurance to an entire workforce, yet 70% of employers believe that it would cost them more than that, with 8% believing it will cost them...

Read More
CIMA: 35% of finance professionals think bonuses are ‘unjustified’
Sep15

CIMA: 35% of finance professionals think bonuses are ‘unjustified’

The Chartered Institute of Management Accountants (CIMA) has today revealed results from a global poll of 6,500 financial decision makers, leading it to call for bonus systems to be designed to encourage long-term success rather than only short-term performance. Of the respondents whose companies operate a bonus scheme, more than a third (35%) of UK finance professionals feel bonuses for top earners – including salespeople, fund...

Read More
Pay Results are in: FTSE 100 Bosses got 10% pay rise, everyone else got 1.9%
Aug08

Pay Results are in: FTSE 100 Bosses got 10% pay rise, everyone else got 1.9%

 New research released today found that bosses in the top FTSE100 earn more than 140% more than their employees and enjoyed a 10% pay rise last year, whilst the average weekly wage grew by only 1.9%. The average wage packet for FTSE 100 chief executives was found to be £5.5m each, according to new research revealed today by the High Pay Centre. The leading think tank, which campaigns against excessive executive pay, will lend weight...

Read More
Brexit reactions and comments from HR & business organisations
Jun24

Brexit reactions and comments from HR & business organisations

Here, at HR news we’ll keep you up to date with the reactions as they come in:  ___________________ Alessio Giorgi – MLRO Compliance Officer for Currencies.co.uk said: “Following the UK’s decision to leave the EU we have seen the Pound drop to its lowest levels in 30 years. This volatility looks set to continue with each announcement, as the shockwaves are felt from both the leave vote and the resignation of David Cameron....

Read More
EU to discuss stronger measures on tax avoidance
Jun07

EU to discuss stronger measures on tax avoidance

Tax avoidance by companies cost EU countries €160-190 billion in lost revenue a year.  This week, MEPs will give its opinion on implementing new measures to fight the most common practices. The measures that the European Commission have proposed are based on the principle that taxes should be paid where profits are made. The plans contain six key measures to fight aggressive tax planning and also sets out common definitions of terms...

Read More
Low Cost Vans appoints ‘Vulnerability Champion’
Mar24

Low Cost Vans appoints ‘Vulnerability Champion’

Low Cost Vans, a commercial vehicle provider that supplies businesses across the UK, has shown its willingness to take on board new regulatory guidelines coming into force by training a Vulnerability Champion. Low Cost Vans decided to take the step to pre-empt growing moves by the Financial Conduct Authority (FCA) to clamp down on companies that it deems have mis-sold finance to individuals who it determines were vulnerable at the...

Read More
HMRC wins ‘important victory’ over Banking Bonuses
Mar10

HMRC wins ‘important victory’ over Banking Bonuses

The Supreme Court has today settled a marathon dispute between banking giants UBS and Deutsche Bank and HM Revenue and Customs who were locked in a legal battle over tax avoiding bonus schemes. HMRC pursued the two banks claiming each owed £50m in tax, although with interest the total figure now stands at £135m.  The scheme involved so-called “Houdini” schemes that were set up to take advantage of legal loopholes to exempt...

Read More
Lloyds Group sees Profits Fall due to PPI Claims
Feb25

Lloyds Group sees Profits Fall due to PPI Claims

Banking Group Lloyds has today reported a 7% fall in annual profits, reporting profits of £1.6bn as against £1.8bn the previous year.  The fall was blamed on charges it has put aside to cover claims against the bank from mis-selling payment protection (PPI). The bank, which is still partly owned by the taxpayer, claimed to have a “robust financial performance” but said PPI claim provisions had resulted in them having to...

Read More
January sees Recruitment Boom!
Feb04

January sees Recruitment Boom!

2016 is looking promising for jobs in the UK. Professional recruitment firms had 4% more vacancies on their books in December 2015 than the same period the previous year according to new survey data from the Association of Professional Staffing Companies (APSCo). This is in line with the latest data from the Office for National Statistics (ONS), which reveals that overall employment levels increased by 588,000 year-on-year in the...

Read More
Sayer Vincent launches new guide to reading charity accounts
Feb02

Sayer Vincent launches new guide to reading charity accounts

Sayer Vincent, the leading UK charity accounting and auditing firm, has just launched a new guide – Reading charity accounts made simple – designed to help trustees and those new to the sector when they are trying to make sense of a charity’s accounts and assess its performance. The launch of the guide follows the recent and widespread commentary in the press about charity performance – some of which was based on...

Read More
Interview Tips for Insurance Job Candidates
Jan13

Interview Tips for Insurance Job Candidates

Founder of Pure Resourcing, Ian Reseigh shares his tips for candidates keen to secure a job in the competitive Insurance sector: The insurance industry is both complicated and competitive, so the interview process can present some tough challenges for candidates. As a result, trying to ‘wing it’ is not an option and detailed preparation is the key. Here are five interview tips for insurance jobs, in order to increase your...

Read More
Sayer Vincent announces 2015 Financial Leadership Award Winners
Sep29

Sayer Vincent announces 2015 Financial Leadership Award Winners

The winners of Sayer Vincent’s ‘Financial Leadership awards 2015’ were announced at the annual Charity Accountants Conference in Nottingham on 17-18th September. Six awards were presented to individuals and teams who championed financial leadership in their organisations. Each winner received a prize of £1000 for training and development in their organisation and the awards were presented by comedian Mark Dolan. A year’s worth of...

Read More
ONS Figures – Bonuses close to matching 2008 Peak!
Aug27

ONS Figures – Bonuses close to matching 2008 Peak!

In what is expected to be seen as further evidence of Britain’s economic recovery, the Office for National Statistics has reported that bonuses have returned to  almost the record levels of their pre-recession peak in 2007-08, although of course this does not account for an increase in inflation since then.  The Office for National Statistics reported a rise in salary top-ups of 2.7% in 2014-15 – or in cash terms £42.4bn....

Read More