Latest news with #RobertJones
Daily Record
20-05-2025
- Business
- Daily Record
People urged to check P60 this month for tax error worth £700 on average
All employers will issue P60's for the 2024/25 financial year by May 31, 2025. As employers prepare to issue P60s before the May 31 deadline, tax refund experts are urging people to check it immediately as just one wrong letter could mean you may have been overpaying tax for months. P60s will be issued to anyone who was in full-time employment on April 5. The document shows how much tax you have paid over the tax year, and it could be the key to unlocking hundreds or even thousands of pounds in unclaimed refunds. Robert Jones, CEO of the tax refund company, Swift Refunds advises that your P60 isn't just a year-end tax summary, it may also be a 'warning sign'. 'Your P60 isn't just a year-end summary, it may also be a warning sign,' says Robert Jones, CEO of the tax refund company, Swift Refunds. 'One incorrect tax code and HMRC could be taking too much out of your wages every month.' He explained: 'The average tax overpayment due to incorrect codes is nearly £700, but recent figures from HM Revenue and Customs (HMRC) show the real impact may be even higher..' The latest UK Government data i ndicates that between January 1 and March 31, 2025, HMRC repaid a staggering £44 million in overpaid tax, with the average refund hitting £2,881 per saver. What to check The most important detail to check is your 'final tax code', usually listed near the top of your P60. The standard code for most workers in the UK is 1257L, which means you're entitled to the full Personal Allowance of £12,570 before any tax is deducted. If you spot one of the codes listed below instead, you could be missing out: BR: All your income is taxed at 20%, with no tax-free allowance D0 or D1: Taxed at higher rates, without any allowance No 'L' in your code: You might not be receiving the standard £12,570 Personal Allowance These codes are not always mistakes, but they often appear when: You've changed jobs You're working multiple roles You've had a period of contract or freelance work HMRC has outdated or incorrect information about your situation Unless you spot it and claim it, the system won't correct it automatically. The responsibility of checking and correcting your tax code is down to you, the employee - it is not the responsibility of your employer or HMRC. Checking your tax code The easiest way to do this is to look at your payslip. One you have a note of your Personal Allowance tax code, you can go to the website and use the online 'Check your Income Tax for the current year" service. This tool, which covers the current tax year, can be used to check your tax code and Personal Allowance, and to see if a tax code has changed. Other options available through this online service include allowing users to see an estimate of how much tax they will pay over the whole tax year. However, the service cannot be used by self-employed workers. The website explains: "You cannot use this service if Self Assessment is the only way you pay Income Tax.' What the tax code numbers mean The numbers in an employee's tax code show how much tax-free income they get in that tax year, this is known as your Personal Allowance. You usually multiply the number in the tax code by 10 to get the total amount of income they can earn before being taxed. For example, an employee with the tax code 1257L can earn £12,570 before being taxed. If they earn £30,000 per year, taxable income is £17,430 (£30,000 - £12,570). What the letters mean Letters in an employee's tax code refer to their situation and how it affects their Personal Allowance. The full list of tax code letters and what they mean can be found on the website here. Most commonly used letters: L - For an employee entitled to the standard tax-free Personal Allowance S - For an employee whose main home is in Scotland BR/ SBR - For a second job or pension M - For an employee whose spouse or civil partner has transferred some of their Personal Allowance N - For an employee who has transferred some of their Personal Allowance to their spouse or civil partner T - When HMRC needs to review some items with the employee If your tax code has 'W1', 'M1' or 'X' at the end W1 (week 1) and M1 (month 1) are emergency tax codes and appear at the end of an employee's tax code, for example '577L W1', '577L M1' or '577L X'. If your tax code has a 'K' at the beginning Tax codes with 'K' at the beginning mean you have income not being taxed another way and it's worth more than your tax-free allowance. For most people, this happens when you're: paying tax you owe from a previous year through your wages or pension getting benefits you need to pay tax on - these can be state benefits or company benefits Your employer or pension provider takes the tax due on the income that has not been taxed from your wages or pension - even if another organisation is paying the untaxed income to you.
Business Wire
07-05-2025
- Business
- Business Wire
Coalition 2025 Cyber Claims Report Finds Ransomware Stabilized but Remains Costly for Businesses
SAN FRANCISCO--(BUSINESS WIRE)-- Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, today published its 2025 Cyber Claims Report, which details emerging cyber trends and their impact on Coalition policyholders throughout the full year of 2024. The report found that ransomware claims stabilized in 2024 despite remaining the most costly and disruptive type of cyberattack. The majority of 2024 claims (60%) originated from business email compromise (BEC) and funds transfer fraud (FTF) incidents, with 29% of BEC events resulting in FTF. 'Over the past year, our claims data clearly demonstrates one thing: Active Insurance works,' said Robert Jones, Head of Global Claims at Coalition. 'Combining Coalition's Active Data Graph, which provides a massive amount of data insights, with security tools and incident response, helps Coalition prevent claims from happening in the first place. And, when matters were reported to Coalition, 56% were handled without any out-of-pocket payments by the policyholder. We believe that this proactive engagement is a critical aspect of reducing global cyber risk.' Ransom demands from threat actors decreased in 2024, dropping 22% year-over-year (YoY) to an average of $1.1 million. Notably, the average demand in the latter half of 2024 fell below $1 million for the first time in more than two years. Of all ransomware claims, Akira ransomware was the most prolific variant for Coalition policyholders, accounting for 13% of claims in 2024. The Black Basta variant accounted for just 3% of all ransomware claims, but was the highest in terms of demand, with an average of $4 million. 'While overall claims have stabilized, cyber attackers, and ransomware actors in particular, still pose a tremendous threat to businesses, with the average demand still in the millions of dollars. Unfortunately, ransomware is already back with a vengeance in 2025, as March held the highest volume of public ransomware cases of all time,' continued Jones. 'Coalition continues to be an active partner in the fight against bad actors. We alert our policyholders to vulnerabilities in their networks, risky security practices, and the best ways to mitigate threats to reduce the impacts of cyber attacks.' In 2024, Coalition's cooperative efforts with authorities and panel partners contributed to the successful clawback of $31 million for policyholders, with an average recovery of $278,000. Coalition has firsthand knowledge that policyholders that quickly report FTF events have a greater likelihood of recovery. Last month, Coalition introduced a new financial incentive in its Active Cyber Policy 1. Clients can receive lower retentions when they report FTF incidents within 72 hours of the initial fraudulent transfer, encouraging prompt action to improve the odds of recovery. Other key findings from the report include: As claims frequency decreased by 7% YoY, claims severity remained stable. Ransomware claims frequency decreased by 3% and severity decreased by 7% YoY. BEC claims severity increased by 23%. FTF claims frequency decreased by 2% and severity decreased by 46% YoY. The sharp decline in severity follows the all-time high in 2023. When deemed reasonable and necessary, 44% of policyholders that experienced a ransomware incident opted to pay the ransom. Coalition Incident Response (CIR) was able to negotiate ransom payments down 1 by an average of 60%. Coalition policyholders experienced 73% 2 fewer claims than the industry average. This report presents statistics, charts, and risk insights derived from data collected from Coalition policyholders in the United States, Canada, the United Kingdom, and Australia. Download the full 2025 Cyber Claims Report from Coalition to learn more: __________________ 1 Applies to all non-admitted surplus lines new business and renewal quotes in the United States on or after April 15, 2025. Exclusions and limitations apply. See disclaimers and policy as issued. 2 Ransomware negotiation data based on cases handled by Coalition Incident Response, Inc. a wholly-owned affiliate firm of Coalition, Inc. made available to all policyholders as an option via incident response firm panel selection. 3 Industry average based on data reported by US insurers to the National Association of Insurance Commissioners (NAIC). Comparison performed using 2023 claims frequency data from Coalition and NAIC. Claims frequency is calculated using the number of standalone cyber claims reported by the NAIC, divided by the average of standalone cyber policies in force at the current and prior year-ends. Expand About Coalition Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage with cybersecurity tools, Coalition helps businesses manage and mitigate potential cyberattacks. Leveraging its relationships with leading global insurers and capacity providers, including Coalition Insurance Company, Coalition offers Active Insurance products to businesses in the United States, the United Kingdom, Canada, Australia, Germany, Denmark, and soon in Sweden. Policyholders can receive automated cyber alerts and access expert advice, as well as global third-party risk management tools through Coalition's cyber risk management platform, Coalition Control®. Insurance products are offered by Coalition Insurance Solutions Inc. ('CIS'), a licensed insurance producer and surplus lines broker with its principal place of business in San Francisco, CA (Cal. license #0L76155), acting on behalf of a number of unaffiliated insurance companies and available on an admitted basis through Coalition Insurance Company ('CIC') a licensed insurance underwriter (NAIC # 29530). Insurance products offered through CIS and CIC may not be available in all states. Complete license and carrier information is available here. CIS may receive compensation from an insurer or other intermediary in connection with the sale of insurance. All decisions regarding any insurance products referenced herein, including approval for coverage, premium, commission, and fees, will be made solely by the insurer underwriting the insurance under the insurer's then-current criteria. All insurance products are governed by the terms, conditions, limitations, and exclusions set forth in the applicable insurance policy. Please see a copy of your policy for the full terms, conditions, and exclusions. Copyright © 2025. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc. or its affiliates.
Scoop
02-05-2025
- Business
- Scoop
'A Provocateur For Liberty': Taxpayers' Union Mourns The Passing Of Sir Robert Jones
The New Zealand Taxpayers' Union marks the passing of Sir Robert Jones with sincere sadness and gratitude for a life lived without fear or filter, in relentless pursuit of free thought and freer markets. On behalf of the Taxpayers' Union, its Co-founder, Jordan Williams, said: "Sir Bob was many things: a property magnate, a political party founder, a bestselling author, and a walking provocation to the politically correct. To us, he was also an unwavering champion of individual liberty, a firm believer in smaller government, and one of the rare public figures who didn't just tolerate free speech – he weaponised it with wit." "Not only a major supporter of the Taxpayers' Union, Sir Bob was a kindred spirit. He called waste when he saw it, mocked bureaucracy with precision, and understood that New Zealanders' hard-earned money deserved respect – not reckless redistribution." "Wellington is full of quirks Sir Bob undertook. From the infamous 'save the krill, kill the whales' billboard, to the 'toilet in 100 metres' signs on the roads leading to Parliament. Together they form part of the city's unofficial charm, and frankly deserve heritage protection. They're as much a tribute to his mischief as his buildings are to his business." "Taxpayers owe Sir Bob more than a few laughs, a few lawsuits, and more than a few uncomfortable truths. Whether he was calling out bloated local councils or writing acid-tipped columns skewering public sector excess, he reminded us that good economics and good humour can – and should – go together." "We extend our sympathies to Sir Bob's family, friends, and those brave enough to have edited his columns. He will be remembered not just for his towering achievements in business, but for the intellectual mischief he stirred in the public square. New Zealand is duller without him."
Yahoo
04-04-2025
- Climate
- Yahoo
‘I was scared,' Vietnam veteran thankful to be alive following severe storms in Almyra
ALMYRA, Ark. – The city of Almyra was hit by severe weather on Wednesday night. The storms caused several power outages, flooding, and damage to many structures. 'I thought I was going to get blown away. I thought it was over,' Robert Jones, a resident of Almyra for over 40 years, said. National Weather Service confirms EF-1, EF-2 tornadoes in Almyra Jones says this storm wasn't the worst, but it was frightening. 'I was scared,' Jones said. 'I ain't going to lie about that.' Vietnam veteran blessed to be alive following severe weather in Almyra Jones said he didn't get any sleep on the night of the storm. The next day, when he went outside, he was met with a large tree that had fallen. The tree rested near his home. Jones feels that if the tree had fallen in a different direction, it would have reached his bedroom. The 78-year-old Vietnam veteran is said he is grateful to still be alive, giving all the glory to God. 'He watched over me really carefully in Vietnam and he did last night too,' he said. Jones barely had any damage to his home, just some shattered glass. Tornadoes, winds, flooding and hail: Arkansas wakes up to disastrous severe storm damage He said he's especially happy his cherry red Dodge Challenger didn't get damaged. 'I'm very happy! This is my dream car,' Jones said. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
28-03-2025
- Yahoo
Woodstock police arrest suspects in Outlet Shoppes thefts, recover $1000s in stolen shoes
The Woodstock Police Department said they were able to recover thousands of dollars of stolen goods and make two arrests connected to thefts at the Outlet Shoppes at Atlanta. According to the department, two suspects were arrested in connection to a series of thefts in Woodstock, with assistance from a strong community partnership. Multiple units from the Woodstock Police Department, including the Uniform Patrol Division, Criminal Investigation Division, Traffic Unit and K-9 Unit, were able to find and recover stolen merchandise worth at about $14,100. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] In a photo shared by the police department, it appears a large amount of the stolen merchandise were pairs of shoes. Their investigation started after loss prevention staff at the Outlet Shoppes reported suspicious activity, 'bolstered by information from a concerned citizen.' TRENDING STORIES: After school fight ends with young teenager dead, another taken into police custody Former 'RHOA' star dismissed from $200,000 lawsuit saying her restaurant owes unpaid rent Gwinnett police searching for non-verbal 5-year-old who disappeared near Lawrenceville Police said the concerned citizen had witnessed a theft and, along with 'detailed surveillance footage' and a lot of work by detectives, they were able to identify the suspects and 'reveal a pattern of thefts tied to multiple incidents at the Outlet Shoppes at Atlanta.' During an undercover operation, Woodstock detectives were able to find and identify two previously unknown suspects involved in active shoplifting. The suspects are believed to be part of a larger group involved in ongoing thefts, according to police, and additional others have been identified, with more arrests expected. 'The successful apprehension of these suspects demonstrates our unwavering commitment to protecting both the citizens and businesses of Woodstock,' Woodstock Police Chief Robert Jones said in a statement. 'This case is a testament to the power of collaboration between our dedicated officers, vigilant business partners, and alert community members. We are grateful for the trust placed in us and will continue to work tirelessly to ensure Woodstock remains a safe place to live, work, and visit.' Police are continuing to follow leads and pursue additional charges as their investigation develops. [SIGN UP: WSB-TV Daily Headlines Newsletter]
