By Josh Brian Marketing Apprentice I was recently speaking to friend of mine about the Government increase on IPT (Insurance Premium Tax) stating how I couldn’t believe that it was rising by a further 2%, to my surprise their reply was “What’s Insurance Premium Tax?” I explained it is a tax that is charged by the Government on EVERY insurance policy you take out […]
By Georgina Bailey Marketing Executive Speeding fines are increasing all the time over the years with no sign of slowing down. The average speeding fine handed out in 2015 was just £188 but the new laws being introduced will raise the bar to a potential £1,000 fine, increasing to a massive £2,500 for those caught speeding on the motorway. Motorists […]
By Ben Scott Marketing Manager On the 6th April, all UK business will have several new pieces of legislation that they have to need to obey unless they wish to incur fines and penalties. This article should help ensure that businesses are prepared. The five most important changes are: Gender Pay Gap Apprenticeship Levy Modern Slave Act Reports National Living […]
By Josh Brian Marketing Apprentice From the 20th of March 2017 the “New Ogden Discount Rate” will come into effect which will see the Ogden Discount change from 2.5% to -0.75% this will likely impact the cost of all insurance premiums. The Ogden Discount Rate is used to readjust Personal Injury (PI) claims in relation to the variations in the finance sector […]
By Georgina Bailey Marketing Executive The Department of Transport (DfT) has announced that there will be stricter rules in place for road users who use their hand held phones while driving. The hardest hit by this new regulation will be Truck/Van drivers and new drivers as it could result in them losing their licence; and there will now be no ‘soft […]
By Ben Scott Marketing Manager The first thing to note is that the change in Road Tax only affects brand new vehicles bought on or after April 1st 2017. If you already own a vehicle, your Road Tax will not be affected unless you purchase a new vehicle registered after this date. The VED reform (announced way back in 2015) intends to introduce a flat Standard Rate of £140 […]
By Georgina Bailey Marketing Executive The excitement of the new £5 note seems to have eased off now and I think by now nearly everyone will have seen the new £5 note (even if like me you haven’t had one yourself yet.) The circular pound coin has been in circulation now for over 30 years but The Royal Mint who […]
By Ben Scott Marketing Manager A new standard rate of Insurance Premium Tax (IPT) will be introduced from October 1st 2016, increasing the figure from 9.5% to 10%. This Government decision was announced at Budget 2016. This increase in Insurance Premium Tax will not be favorably received following the previous one less than 12 months ago. Thankfully this time around the increase […]
By Georgina Bailey Marketing Executive The new five pound note comes into circulation on the 13th September 2016; it will take a few weeks for the notes to spread across the UK to shops, business and banks. The old £5 note will no longer be legal tender from May 2017 and therefore will not be accepted by shops. If after […]
By Georgina Bailey Marketing Executive There is a new Insurance Act which will come into effect on 12th August 2016, the new Act provides more up to date framework for commercial insurance and will apply to all commercial polices taken out, renewed and amended from this date. The new Act focuses on “fairness, transparency and certainty” over the rules that govern contracts […]