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Household income at record high

Household income has risen to £473 a week - £800 a year more than in 2013/14.

Figures from the Department for Work and Pensions (DWP) report that the average household income has risen to its highest level on record, with the number of people on low income falling by 300,000 since 2010.

The number of children in low income has fallen by 100,000 while people living in workless...

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Businesses scale back recruitment plans after Brexit vote

Almost a quarter of businesses will put a freeze on recruitment following the decision to leave the EU, according to research by the Institute of Directors (IoD).

The survey of 1,092 IoD members found that 32% will continue to hire staff and 5% plan to make redundancies.

Almost two thirds (64%) of business owners say that leaving the EU will have a negative effect on their...

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Second payment on account deadline reminder

The deadline for the second payment on account for income tax paid through self-assessment is due on 31 July 2016.

Payment is required if your tax bill exceeds £1,000, unless you’ve already paid more than 80% of all the taxed owed.

There are 2 payments dates each year - 31 January and 31 July. Each payment made is half of your previous year’s tax bill.

If you’re already...

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Chancellor gives statement on EU referendum

The chancellor George Osborne has released a statement following the outcome of the EU referendum.

He said that the UK is ready to face the future “from a position of strength”.

The chancellor identified 3 challenges that the government will meet.

Financial markets

The government has put in place contingency plans to support the immediate financial aftermath and...

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EU referendum: business reaction

The UK has voted to leave the European Union.

Here is a round-up of reaction from industry bodies.

British Chambers of Commerce (BCC)

Dr Adam Marshall, acting director general of BCC called for market stability and political clarity following the referendum result.

"Businesses need action to maintain economic stability, a timeline for exit, and answers to their...

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