THE INLAND REVENUE has been forced to admit
After first denying they had problems, the Revenue has now bowed to pressure from several accountants' bodies and announced the extension as thousands of taxpayers and accountants who tried to file self-assessment tax returns before yesterday's deadline had complained users were unable to access advice pages, and many who thought they had filed their return were sent error messages or failed to receive confirmation.
The Revenue said those who tried and failed to file a return over the weekend will not receive the £100 late payment fine if they re-submit their return within 14 days.
Nearly 900,000 taxpayers missed the 31 January deadline last year and received an automatic £100 fine.
HOUSE PRICES are expected to fall by around 20% nationally over the next 2-3 years while Scottish house prices will drop around 15% according to an economic think-tank quoted in this morning’s Scotsman.Capital Economics argues factors which had so far underpinned the UK spending boom are set to weaken further and will generate the slowest growth in over a decade.
"A slightly smaller fall in house prices in Scotland will have a little less impact on consumer spending, but, even so, it will still be pretty adversely affected by the drop in house prices," Vicky Redwood, UK consumer analyst at Capital told the Scotsman.
FRIENDS PROVIDENT yesterday said uncertainty created by yet more Government pension reforms is the reason the life assurer as seen poor sales figures over the last year, reports the Daily Telegraph.
FP yesterday declared annualised pension sales fell by 7% in 2004 but better life insurance sales helped the firm to increase annualised new business slightly from £429m the previous year to £434m.
Chief executive Keith Satchell argued sales are down customers are holding off from making decisions ahead of the Government's planned pension simplification next year.
HOWEVER, STANDARD LIFE is having a better time of things, according to the Scotsman, as a boom in institutional business boosted its funds under management at the investment arm last year.
Funds under management at Standard Life Investments (SLI) soared to a £18.3bn in the 13½ months to end-December, argues the Scotsman – even though it would be difficult to truly quantify given the 13½ month financial period – as institutional sales rose £1.8bn, up 20% on the year to 15 November 2003, thanks to eight new segregated account mandates.IFAonline
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