Aldermore polled 2,003 adults and found that 29% aim to start their own business in the future – up from 15% in 2017.

Some 18% of those intend to make the switch in the next 12 months, while 28% believe they will give up full-time work to become their own boss within three years.

Of the respondents, 15% planned to launch a business in the retail sector followed by 11% in catering and accommodation.

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The tax system in Britain should be replaced with a single rate on all forms of income, claims a thinktank.

A report by the Institute for Public Policy Research (IPPR) has outlined its recommendations to improve the British tax system.

In order to make the system more “progressive and efficient”, the proposed reforms would involve two elements.

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HMRC has had to return nearly half-a-billion pounds to taxpayers since April 2015, claims analysis of government statistics.

Royal London reports the Revenue is overcharging on two areas of the tax system, and has had to refund £493 million as a result.

Savers using the new pension freedoms are among the hardest hit, as income tax on pension withdrawals is taken on an emergency tax basis.

Taxpayers have had to claim back £262 million since the pension freedoms were introduced in April 2015.

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Food and drink businesses raised £22 billion from exports in 2017, a record high according to government figures.

UK food and drink firms are now exporting products to 217 countries around the world, with whisky proving the most popular – bringing in £4.5 billion last year.

This was followed by sales of salmon (£720 million), chocolate (£680 million) and cheese (£623 million).

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The number of employers that have complied with auto-enrolment passed one million for the first time in January 2018.

Data released by The Pensions Regulator showed the total number of employers to have completed their declaration of compliance stood at 1,032,567 in the first month of 2018.

More than 600,000 employers complied with their duties in the last 12 months, although around 150,000 have until the June 2018 deadline to enrol their staff.

Continue reading “One million firms comply with auto-enrolment”