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The first regular salary was £400 per year, introduced in 1911. For comparison, average annual earnings were £70 in 1908. [6] Salaries were reduced 10% in the 1930s, during the Great Depression. [1] Some subsequent salary levels were £1,000 in 1946, £3,250 in 1964, £11,750 in 1980, and £26,701 in 1990. [2]
The Bank of England has kept interest rates on hold at 5%, but further cuts are expected later in the year. Interest rates affect the mortgage, credit card and savings rates for millions of people ...
Prices in the UK went up by 2.2% in the 12 months to August, the same rate as in the year to July. The Bank of England has a target to keep inflation at 2%. Inflation is the increase in the price ...
UK income tax and National Insurance charges (2016–17) UK income tax and National Insurance as a percentage of taxable pay, and marginal income tax and NI rate (2016–17) Annual income percentiles for taxpayers in the UK, before and after income tax. In the SVG file, hover over a graph to highlight it.
The Pension Protection Fund was set up to act as a safety net in case a scheme was unable to pay the defined benefits it was committed to. According to the PPF, pension funds in the UK are estimated to have been £367.5 billion in deficit at the end of January 2015. The report [19] puts the deficit at 40%. The PPF figures show that the funds ...
Limited price indexation (LPI) is a pricing index used to calculate increases in components of scheme pension payments in the United Kingdom. Currently, the statutory requirement for occupational pension schemes is that pensions in payment must be increased by the lower of RPI and 2.5%. Usually the lesser of the annual increase in the Retail ...
This year, students in England will be able to borrow up to £10,227 a year for a maintenance loan if living in the UK, outside London and away from their parents. This increases to £13,348 in ...
Rates. There are two different insurance premium tax rates: [1] a standard rate of 12%. a higher rate of 20%. Insurers providing taxable insurance are required to register and account for IPT, as must intermediaries who sell insurance subject to the higher rate of IPT and charge a separate insurance-related fee on top of the premium itself.