One in ten have no plans to retire
One in ten people (9%), some three million people, say they do not plan to retire, according to new research by Baring Asset Management. This compares to 14% of people who said the same last year. More than third (37%) of respondents said they do not know when they will retire, up from 34% in 2014. In addition, 34% of people aged 65+ said they don't plan to retire, up from 32% in 2014.
Disillusioned micro-firms don't feel supported
Just 0.1% of UK micro-businesses think the Government understands their needs according to a recent poll by Crunch Accounting. The survey of more than 1,000 micro-business owners took place ahead of this week's Autumn Statement. It found that 88% of micro-businesses do not agree that the "current government is supportive of, and understands, one-person businesses". A further 12% were undecided. Just one business owner approved of the government's approach.
Get ready for Small Business Saturday
Small Business Saturday is going from strength to strength, supporting small businesses in their communities and encouraging consumers to "shop local". This year the event takes place on 5 December. Small firms can make the most of the event in several ways - by advertising on Small Business Finder for free; by downloading the Small Business Saturday online toolkit; and by sending off for a free marketing pack, which includes posters and a window sticker.
Claims for Entrepreneurs' Relief go up
The number of business owners who used Entrepreneurs' Relief to reduce the tax they paid when they sold their businesses last year rose to 43,000, up from 37,000 the year before and a new record high. Timothy Fussell, partner at accountants Moore Stephens, said: "Through encouraging SMEs to grow, Entrepreneurs' Relief helps create jobs in the UK." Currently, Entrepreneurs' Relief reduces the amount of capital gains tax due on the sale of a business to 10%, down from 18% or 28% without the relief, up to a lifetime limit of £10m. And, despite widespread concerns, cuts to this relief did not materialise in George Osborne's Autumn Statement this week.