crisis Archives - WRLO Accountants https://www.wrloaccountants.co.uk/tag/crisis/ Chartered Accountants & Business Advisors Fri, 03 May 2024 09:40:46 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0.2 https://www.wrloaccountants.co.uk/wp-content/uploads/2018/01/cropped-WRLO-logo-big-32x32.jpg crisis Archives - WRLO Accountants https://www.wrloaccountants.co.uk/tag/crisis/ 32 32 More than seven million adults still struggling to pay bills, finds FCA https://www.wrloaccountants.co.uk/more-than-seven-million-adults-still-struggling-to-pay-bills-finds-fca/ Fri, 03 May 2024 09:40:44 +0000 https://www.wrloaccountants.co.uk/?p=4067 Around 7.4 million people in the UK struggled to pay a bill or a credit repayment in January, according to the Financial Conduct Authority (FCA). The figure is lower than last year but is still significantly higher than before the cost-of-living crisis began. According to the FCA, in January 2023, after the Russian invasion of Ukraine and the subsequent start of the cost-of-living crisis, the number of people in financial difficulty almost doubled to 10.9 million. The FCA survey also suggested 5.5 million people had missed a bill or credit payment in the six months to January 2024. In addition, one in nine people also had no disposable income, the FCA said. Sheldon Mills, Executive Director of Consumers and Competition at the FCA, said: ‘Our research shows many people are still struggling with their bills, though it is encouraging to see some benefiting from the help that’s available. ‘If you’re worried about keeping up with payments, reach out to your lender straight away. They have a range of support options and will work with you to agree the best one for you. You can also find free debt advice through MoneyHelper.’ Internet link: FCA website

The post More than seven million adults still struggling to pay bills, finds FCA appeared first on WRLO Accountants.

]]> October 2022 https://www.wrloaccountants.co.uk/october-2022/ Wed, 05 Oct 2022 14:51:57 +0000 https://www.wrloaccountants.co.uk/?p=3716 In this month’s Enews we consider the latest news on the Mini Budget and the reversal of the plan to scrap the 45p rate of income tax. We also update you with details of the government’s energy support schemes and the Making Tax Digital for VAT. With news on the SMEs recruitment struggles and scam warnings, there is a lot to update you on. Government abandons plan to scrap 45p top rate of income tax Chancellor outlines growth measures at Mini Budget IMF criticises government over tax plans Government caps business energy bills VAT businesses must be ready for Making Tax Digital filing by November SMEs facing recruitment struggles HMRC raises late payment interest from 11 October Action Fraud warns scammers are exploiting cost-of-living crisis Government abandons plan to scrap 45p top rate of income tax The government has abandoned its plan to abolish the 45% top rate of income tax due to the negative reaction it has received. Chancellor Kwasi Kwarteng first announced the policy in the Mini Budget on 23 September. He has now confirmed that it will not go ahead in a statement on the social media platform Twitter. It has not yet been confirmed whether the same reversal […]

The post October 2022 appeared first on WRLO Accountants.

]]>