Pensioners will not be able to cope with Council Tax bills when they rise again next year, says Key Retirement Solutions.The rise will mean Council Tax will have virtually doubled since Labour came to power nine years ago, and will cost home owners at least an extra 100 per year. There have already been a number of high profile protests at the increase in Council Tax this year, with two pensioners refusing to pay the above inflation rises in their bills and subsequently being jailed. Dean Mirfin, business director at Key Retirement Solutions, says: “If you look at the retirement sector, typically a 10th of annual earnings goes on Council Tax. For people who are working it’s nowhere near that. This is a major concern. “You don’t hear many stories about 30 year olds getting arrested for not paying their Council Tax. “But there is a big difference between those who don’t want to pay and those who are struggling.” Mirfin adds: “These increases being higher than inflation makes it even tougher on retired people. Typically they rely on the state pension. “Some may have savings or occupational or personal pensions, but the increases they get in these do not cover increased living costs. “With such a huge gap to bridge, we’ll certainly be hearing more stories of pensioners arrested for not being able to pay.” The Council Tax increase was forecast by town hall chiefs last week and prompted a storm of criticism.
From Simon Mouncher We are now a year into regulation and the market seems to have settled well. Every week we read reports on record levels of business so the doom that was expected, along with the end of packaging, hasn’t happened. Or has it? For the past 12 months lenders have talked about cutting […]
Stroud and Swindon has withdrawn its fixed rate mortgage products with immediate effect, excluding its 4.99% two-year flexible fixed.All other products will remain unchanged.
The Professional Mortgage Packagers Alliance has avoided criminal charges and a hefty fine after failing to file its annual return. This was due on September 15 after which it had 28 days (until October 13) to file it. Failing to file an annual return is a criminal offence and leaves companies at risk of prosecution […]
Roy Leighton has taken over as chairman of the Financial Services Practitioner Panel. He succeeds Jonathan Bloomer, who assumes the role of deputy chairman for one year. Leighton is chairman of Nymex Europe. The Panel is a statutory body that represents the spectrum of regulated firms and the interests of practitioners.
With 23 auto-enrolment compliance notices issued by the Pensions Regulator, and an evolving legislative landscape meaning previously compliant schemes may now be in breach of regulation, now is the time to think about auditing your auto-enrolment scheme. Johnson Fleming is hosting a webinar on 9 October at 11:00 on how to audit your scheme to ensure compliance, avoid breaches and fines and overcome data issues.
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