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9am Lowdown: Innocent accountant admits guilt

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3rd Aug 2015
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Hello, everyone. Just back from a two week holiday – just in case you were all worried about me. Here’s the news!

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Innocent accountant admits guilt

An accountant at the smoothie maker Innocent looted her employers to boost her generous salary by more than £26,000.

Priya Moodley, 35, was paid £49,000 a year but she funnelled company cash straight into her bank account between 2012 and 2015.She spent thousands of pounds on luxury goods and a trip to visit her unwell mother in South Africa.

The ledger manager carried out the scam by overpaying fruit and veg suppliers to Ladbroke Grove-based Innocent and asking them to repay the money into her own account.

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Pensioners face HMRC hullabaloo

Thousands of pensioners could be forced to fill in tax returns for the first time or face fines under the government's “savings revolution”, leading accountants and savings experts have warned.

They said that from April next year people may be required to inform the Revenue if the interest they earn from their savings exceeds £1,000 for a basic rate taxpayer or £500 for a higher rate taxpayer.

“This could particularly hit pensioners, people who are basic rate taxpayers who in the past far haven't needed to file a tax return. There is going to need to be a massive communications exercise, it will be very difficult,” said Patricia Mock, a tax director at Deloitte.

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Cheaper financial advice for the less affluent

Banks and investment firms could have to offer more financial advice for customers who are not rich enough to hire traditional financial advisors, as the result a Treasury review to be launched this Autumn.

Free guidance is already on offer for pensioners who want to consider investing in products other than annuities. The Treasury and FCA now want to see how access to advice could be opened up across the market in savings, investments, mortgages and other areas.

One option would be to give more resources and an increased remit to the Money Advice Service , which is funded by a levy on financial institutions but operates independently and gives out free advice.

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By anahills
18th Jan 2021 11:56

I need advice on debt. If possible give me detailed guidance on debt.

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