Latest news with #JamieClark
Business Insider
5 days ago
- Business
- Business Insider
Evercore ISI Reaffirms Their Buy Rating on Charles River Labs (CRL)
Evercore ISI analyst Elizabeth Anderson CFA maintained a Buy rating on Charles River Labs (CRL – Research Report) yesterday and set a price target of $170.00. The company's shares closed yesterday at $143.22. Confident Investing Starts Here: Anderson CFA covers the Healthcare sector, focusing on stocks such as CVS Health, Align Tech, and Quest Diagnostics. According to TipRanks, Anderson CFA has an average return of -6.7% and a 42.08% success rate on recommended stocks. In addition to Evercore ISI, Charles River Labs also received a Buy from Redburn Atlantic's Jamie Clark in a report issued on May 23. However, on June 3, William Blair maintained a Hold rating on Charles River Labs (NYSE: CRL). Based on Charles River Labs' latest earnings release for the quarter ending March 29, the company reported a quarterly revenue of $984.17 million and a net profit of $25.47 million. In comparison, last year the company earned a revenue of $1.01 billion and had a net profit of $67.33 million Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CRL in relation to earlier this year. Last month, Joseph W LaPlume, the EVP, Corp Strategy & Develop of CRL sold 500.00 shares for a total of $72,705.00.
Scottish Sun
02-05-2025
- Business
- Scottish Sun
HMRC tax code warning the three digits that mean you're owed cash
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) RETIREES could be due a tax refund worth thousands — simply by spotting three key digits on their payslip. Over 15,000 people claimed back an average of £2,881 between January and March this year after being clobbered with emergency tax on pension withdrawals. Sign up for Scottish Sun newsletter Sign up 1 Over 15,000 people claimed back an average of £2,881 between January and March this year after being clobbered with emergency tax on pension withdrawals That's a staggering £44million refunded in just three months — and now HMRC has pledged a shake-up to stop more Brits being unfairly whacked. The changes come after growing frustration with emergency tax codes being slapped on savers accessing their pensions flexibly. Since pension freedoms launched in 2015, over-55s have been able to dip into their pension pots whenever they like — but many have ended up paying too much tax because HMRC assumes they'll be withdrawing the same chunky sum every month. It means one-off lump sums often get taxed at 40%, rather than the basic 20% — especially if your tax code ends in W1, M1, or X. These codes are red flags for an emergency tax situation: 1257L W1 is for weekly payments 1257L M1 for monthly 1257L X for irregular or one-off withdrawals STATE PENSION BASICS AT the moment the new state pension is paid to both men and women from age 66 - but it's due to rise to 67 by 2028 and 68 by 2046. It is a recurring payment from the government most Brits start getting when they reach the state pension age. However, not everyone gets the same amount, and you are awarded depending on your national insurance record. For most pensioners, it forms only part of their retirement income, as they could have other pots from a workplace pension, earning and savings. The new state pension is based on people's National Insurance records. Workers must have 35 qualifying years of National Insurance to get the maximum amount of the new state pension. You earn national insurance qualifying years through work, or by getting credits, for instance when you are looking after children and claiming child benefit. If you have gaps, you can top up your record by paying in voluntary National Insurance contributions. To get the old, full basic state pension, you will need 30 years of contributions or credits. You will need at least 10 years on your NI record to get any state pension. The full rate of the new state pension is £230.25 a week - or £11,973 a year. Under the old system, the full basic state pension is £176.45 per week and is paid to those who retired before April 6, 2016. If you spot these on your paperwork, it's a sign you've likely overpaid. But HMRC says it's rolling out new tech to automatically update tax codes faster — so people are taken off emergency rates more quickly and refunds are less likely to be needed. Jamie Clark, retirement specialist at Quilter, welcomed the move. He said: 'Refunds continued to be a significant issue, with 15,274 claims in Q1 2025 alone, amounting to over £44million. 'The automation of tax code updates should help — but pension withdrawals are still complex, and mistakes can cost people dearly.' Could you be eligible for Pension Credit? And with the cost-of-living crisis continuing to bite, experts warn a tax slip-up could derail long-term retirement plans. Jamie added: 'The PAYE system has never worked well for one-off lump sums. HMRC's reform is welcome, but it won't be a silver bullet. 'Getting professional advice before making withdrawals is key — it can save you serious money and stress.' Under current rules, you can access your defined contribution pension from age 55. The first 25% is tax-free, but anything after that is taxed like income — which means emergency codes can sting. The full new state pension currently pays £230.25 a week, or just under £12,000 a year — but that's only if you've racked up 35 years of National Insurance contributions. If you've got gaps in your record, you might not get the full whack — though you can plug them by paying voluntary contributions. And even with the new pension system in place, it's just one piece of most Brits' retirement puzzle. How to get your cash back If you've withdrawn a large amount from your pension pot, you need to fill in a form to get your cash back as quickly as possible. You can wait for HMRC to review your tax code at the end of the tax year and it will process a refund, but obviously, this means you could be waiting a while. To get the cash back faster, you can fill in one of three forms: a P55, P53Z or a P50Z which can all be found on the Government's website. Which form you need to fill out will depend on how you have accessed your retirement pot: If you've emptied your pot by flexibly accessing your pension and are still working or receiving benefits, you should fill out form P53Z, If you've emptied your pot by flexibly accessing your pension and aren't working or receiving benefits, you should fill out form P50Z, If you've only flexibly accessed part of your pension pot then use form P55. HMRC says it aims to process refunds within 30 days. To avoid having emergency tax deducted in future, try taking smaller amounts out rather than one lump sum. More than £1.4billion has now been refunded to savers since 2015 — but thousands are still unaware they've overpaid. From Jan to March 2025 alone, HMRC processed: P55 forms (partial withdrawal): 9,694 P53Z forms (full withdrawal with other income): 4,409 P50Z forms (full withdrawal with no other income): 1,171 The next round of HMRC refund figures will be published in July 2025.
The Sun
02-05-2025
- Business
- The Sun
HMRC tax code warning the three digits that mean you're owed cash
RETIREES could be due a tax refund worth thousands — simply by spotting three key digits on their payslip. Over 15,000 people claimed back an average of £2,881 between January and March this year after being clobbered with emergency tax on pension withdrawals. That's a staggering £44million refunded in just three months — and now HMRC has pledged a shake-up to stop more Brits being unfairly whacked. The changes come after growing frustration with emergency tax codes being slapped on savers accessing their pensions flexibly. Since pension freedoms launched in 2015, over-55s have been able to dip into their pension pots whenever they like — but many have ended up paying too much tax because HMRC assumes they'll be withdrawing the same chunky sum every month. It means one-off lump sums often get taxed at 40%, rather than the basic 20% — especially if your tax code ends in W1, M1, or X. These codes are red flags for an emergency tax situation: 1257L W1 is for weekly payments 1257L M1 for monthly 1257L X for irregular or one-off withdrawals STATE PENSION BASICS AT the moment the new state pension is paid to both men and women from age 66 - but it's due to rise to 67 by 2028 and 68 by 2046. It is a recurring payment from the government most Brits start getting when they reach the state pension age. However, not everyone gets the same amount, and you are awarded depending on your national insurance record. For most pensioners, it forms only part of their retirement income, as they could have other pots from a workplace pension, earning and savings. The new state pension is based on people's National Insurance records. Workers must have 35 qualifying years of National Insurance to get the maximum amount of the new state pension. You earn national insurance qualifying years through work, or by getting credits, for instance when you are looking after children and claiming child benefit. If you have gaps, you can top up your record by paying in voluntary National Insurance contributions. To get the old, full basic state pension, you will need 30 years of contributions or credits. You will need at least 10 years on your NI record to get any state pension. The full rate of the new state pension is £230.25 a week - or £11,973 a year. Under the old system, the full basic state pension is £176.45 per week and is paid to those who retired before April 6, 2016. If you spot these on your paperwork, it's a sign you've likely overpaid. But HMRC says it's rolling out new tech to automatically update tax codes faster — so people are taken off emergency rates more quickly and refunds are less likely to be needed. Jamie Clark, retirement specialist at Quilter, welcomed the move. He said: 'Refunds continued to be a significant issue, with 15,274 claims in Q1 2025 alone, amounting to over £44million. 'The automation of tax code updates should help — but pension withdrawals are still complex, and mistakes can cost people dearly.' Could you be eligible for Pension Credit? And with the cost-of-living crisis continuing to bite, experts warn a tax slip-up could derail long-term retirement plans. Jamie added: 'The PAYE system has never worked well for one-off lump sums. HMRC's reform is welcome, but it won't be a silver bullet. 'Getting professional advice before making withdrawals is key — it can save you serious money and stress.' Under current rules, you can access your defined contribution pension from age 55. The first 25% is tax-free, but anything after that is taxed like income — which means emergency codes can sting. The full new state pension currently pays £230.25 a week, or just under £12,000 a year — but that's only if you've racked up 35 years of National Insurance contributions. If you've got gaps in your record, you might not get the full whack — though you can plug them by paying voluntary contributions. And even with the new pension system in place, it's just one piece of most Brits' retirement puzzle. How to get your cash back If you've withdrawn a large amount from your pension pot, you need to fill in a form to get your cash back as quickly as possible. You can wait for HMRC to review your tax code at the end of the tax year and it will process a refund, but obviously, this means you could be waiting a while. To get the cash back faster, you can fill in one of three forms: a P55, P53Z or a P50Z which can all be found on the Government's website. Which form you need to fill out will depend on how you have accessed your retirement pot: If you've emptied your pot by flexibly accessing your pension and are still working or receiving benefits, you should fill out form P53Z, If you've emptied your pot by flexibly accessing your pension and aren't working or receiving benefits, you should fill out form P50Z, If you've only flexibly accessed part of your pension pot then use form P55. HMRC says it aims to process refunds within 30 days. To avoid having emergency tax deducted in future, try taking smaller amounts out rather than one lump sum. More than £1.4billion has now been refunded to savers since 2015 — but thousands are still unaware they've overpaid. From Jan to March 2025 alone, HMRC processed: P55 forms (partial withdrawal): 9,694 P53Z forms (full withdrawal with other income): 4,409 P50Z forms (full withdrawal with no other income): 1,171 The next round of HMRC refund figures will be published in July 2025. What is the personal allowance? THE personal allowance is the amount you can earn each year tax-free. In the current tax year - which runs from April 6 2024 to April 5 2025 - the figure is £12,570. Any earnings above this threshold are taxed at different rates, depending on the income bracket. However, this amount may be larger if you claim certain allowances, including a blind person's allowance, marriage allowance and child tax credit. Income tax also applies to money you make outside your job, not just your earnings. But there are also some tax-free allowances on top of the personal allowance for these other sources of income. If you are self-employed, you don't have to pay tax on savings interest, dividends and the first £1,000 of income.
The Sun
30-04-2025
- Business
- The Sun
Are you owed £3,000 pension tax refund? Thousands claim cash as new HMRC rules take effect
PENSION savers are pocketing thousands in tax refunds after being overcharged — and now fresh HMRC changes could stop millions more being stung. Over 15,000 people got an average refund of £2,881 between January and March this year after being overtaxed when they dipped into their pension pots. 1 In total, £44million was handed back in just three months, according to new figures — with hopes the amount overpaid will fall thanks to recent rule tweaks. HMRC rolled out a new system this month, aimed at stopping retirees from being wrongly whacked with a sky-high emergency tax bill when making a withdrawal. It ended the long-running issue caused by emergency tax codes applied to pension withdrawals under the pension freedoms introduced in 2015. For the past decade, anyone over 55 can access their pension flexibly, but HMRC often taxes large withdrawals as if they will be repeated monthly, resulting in overpayments. You can start taking cash from a defined contribution (DC) scheme or personal pension when you reach 55. Usually you can take the first 25% of your pension tax-free, and then anything after that is taxed at the usual income tax rate. STATE PENSION BASICS AT the moment the new state pension is paid to both men and women from age 66 - but it's due to rise to 67 by 2028 and 68 by 2046. It is a recurring payment from the government most Brits start getting when they reach the state pension age. However, not everyone gets the same amount, and you are awarded depending on your national insurance record. For most pensioners, it forms only part of their retirement income, as they could have other pots from a workplace pension, earning and savings. The new state pension is based on people's National Insurance records. Workers must have 35 qualifying years of National Insurance to get the maximum amount of the new state pension. You earn national insurance qualifying years through work, or by getting credits, for instance when you are looking after children and claiming child benefit. If you have gaps, you can top up your record by paying in voluntary National Insurance contributions. To get the old, full basic state pension, you will need 30 years of contributions or credits. You will need at least 10 years on your NI record to get any state pension. The full rate of the new state pension is £230.25 a week - or £11,973 a year. Under the old system, the full basic state pension is £176.45 per week and is paid to those who retired before April 6, 2016. But people who take large one-off lump sums from these types of pensions are taxed at an "emergency" higher rate of income tax. Following the change, tax codes will be adjusted faster to reflect accurate earnings, meaning savers will be moved off emergency codes more quickly. Jamie Clark, retirement specialist at Quilter, welcomed the changes. He said: 'Refunds continued to be a significant issue, with over 15,000 claims in Q1 2025 alone. 'The automation of tax code updates should help — but pension withdrawals are still complex, and mistakes can cost people dearly.' Could you be eligible for Pension Credit? He added: 'For those accessing pensions during a cost-of-living squeeze, any tax slip-up could derail longer-term plans. Advice is key.' How to get your cash back If you've withdrawn a large amount from your pension pot, you need to fill in a form to get your cash back as quickly as possible. You can wait for HMRC to review your tax code at the end of the tax year and it will process a refund, but obviously, this means you could be waiting a while. To get the cash back faster, you can fill in one of three forms: a P55, P53Z or a P50Z which can all be found on the Government's website. Which form you need to fill out will depend on how you have accessed your retirement pot: If you've emptied your pot by flexibly accessing your pension and are still working or receiving benefits, you should fill out form P53Z, If you've emptied your pot by flexibly accessing your pension and aren't working or receiving benefits, you should fill out form P50Z, If you've only flexibly accessed part of your pension pot then use form P55. HMRC says it aims to process refunds within 30 days. To avoid having emergency tax deducted in future, try taking smaller amounts out rather than one lump sum. More than £1.4billion has now been refunded to savers since 2015 — but thousands are still unaware they've overpaid. From Jan to March 2025 alone, HMRC processed: P55 forms (partial withdrawal): 9,694 P53Z forms (full withdrawal with other income): 4,409 P50Z forms (full withdrawal with no other income): 1,171 The next round of HMRC refund figures will be published in July 2025. What is the personal allowance? THE personal allowance is the amount you can earn each year tax-free. In the current tax year - which runs from April 6 2024 to April 5 2025 - the figure is £12,570. Any earnings above this threshold are taxed at different rates, depending on the income bracket. However, this amount may be larger if you claim certain allowances, including a blind person's allowance, marriage allowance and child tax credit. Income tax also applies to money you make outside your job, not just your earnings. But there are also some tax-free allowances on top of the personal allowance for these other sources of income. If you are self-employed, you don't have to pay tax on savings interest, dividends and the first £1,000 of income.
Yahoo
20-02-2025
- Business
- Yahoo
Home wind turbines 'could be part of energy plan'
Domestic wind turbines could form part of Guernsey's renewable energy future, a local green energy firm has said. The Little Green Energy Company (LGEC) said the turbines could be part of the island's "renewable ecosystem" alongside solar panels and offshore wind farms. Guernsey Electricity Limited (GEL), which runs the island's electricity distribution network, said renewable technology was the "right step" for the island to take. However, it warned domestic wind generation could impact the electricity grid's stability without proper planning. One domestic wind turbine has already been installed in Guernsey generating 500W, which was enough to power several small appliances for its owner, LGEC said. Jamie Clark, operations director, said according to the manufacturer the turbines could save homeowners £600 a year. He said energy generated by the 1.8m (5.9ft) high domestic turbines could be stored in a battery to use later or sold to the island's electricity grid. Mr Clark said he thought the turbines looked "great when they're up on roofs", but appreciated some people would find them unattractive. The firm said the systems needed planning permission. A spokesman for States-owned electricity company GEL said it supported "the installation of behind-the-meter renewables" as it was part of its targets, set out in the island's electricity strategy. "However, we need to be mindful of the impact this can have on the stability of the electricity grid when replicated at scale," he said. The spokesman said the island needed make sure it could "still provide a secure supply to customers when the sun is not shining and wind is not blowing". Follow BBC Guernsey on X and Facebook. Send your story ideas to Solar panels at new charity HQ to 'power 40 homes' Green skills drive launched to train 'thousands' Wind farm plans are progressing, deputy says Little Green Energy Company Guernsey Electricity
