Behavioural finance meaning

In this issue: Tax Diversity and gender pay gap Employment Tribunals Industrial Relations Law Reports (IRLR)—September 2025 Dates for your diary Trackers New Q&As Employment resources on Lexis+® LexTalk® Employment: a Lexis®Nexis community Daily and weekly news alerts Tax Legislation Day: Draft Finance Bill 2026—tackling non-compliance in the umbrella company market Legislation Day 2025 brought the release of draft Finance Bill 2026 provisions which, if progressed into law, would make agencies and end clients jointly and severally accountable for any Pay As You Earn (PAYE) and National Insurance Contributions (NICs) failings by umbrella companies. In Tax analysis: Legislation Day: Draft Finance Bill 2026—tackling non-compliance in the umbrella company market, John Chaplin, a partner at BDO, reviews these proposals. Diversity and gender pay gap Government publishes report on how to improve gender pay equality in the workplace The Office for Equality and Opportunity and the Women and Equalities Unit have issued a...

FCA figures indicate the amount of cash taken out rose 35.9% year on year, from £52.2m during the financial year ending March 2024. Over the same period, the number of pension pots first accessed climbed by 8.6%, moving from 885,455 to 961,575 in total. Rob Hillock, Head of Personal Finance Planning at consultancy Broadstone, said the numbers signalled a “significant surge” in savers drawing on their pensions. “Although demographics imply progressively larger sums of pension wealth will be tapped year-on-year, the scale of 2025’s leap hints that further behavioural shifts could also be materially influencing outcomes,” Hillock added. “Changes like bringing pension assets within inheritance tax could be prompting more savers to use their pension sooner, or to front‑load their withdrawals”...

On 26 November 2025, Rachel Reeves, the Chancellor of the Exchequer, presented the Labour administration’s second Budget, widely referred to simply as Budget 2025. On the same day, the Office for Budget Responsibility (OBR) set out its economic and fiscal outlook for the UK. Proceedings opened poorly, and chaotically, with an OBR forecast leaking amidst a slew of prior government-led briefings and the release of a frustratingly static index of ‘Budget 2025 tax related documents’ to which hyperlinks were not inserted until close to 8pm, together with a piecemeal, stop‑start publication of tax information across scattered web pages, sending readers on a fruitless treasure hunt for clarity or coherence and with no appearance whatsoever of the Overview of Tax Legislation and Rates (OOTLAR). Headline measures comprised, among other items, extending, for another three years to April 2031, the existing personal allowance and income tax bands for taxpayers, and increasing income tax rates applied to property, savings and dividend receipts, as well as imposing employer and employee National Insurance contributions (NICs)...

See further, timeline Case facts Outline European Commission Article 102 TFEU probe into SAP’s maintenance and support practices for its on‑premises Enterprise Resource Planning (ERP) software (AT.40823). Latest development On 14 November 2025, the Commission opened a market test concerning commitments put forward by SAP. Parties SAP: SAP, a Germany‑based company, builds software applications that help businesses run their operations. This includes ERP systems supporting functions such as corporate finance, human resources and project management. SAP’s ERP can be deployed on‑premises—running on the customer’s own servers—or in the cloud—hosted on SAP’s servers and delivered over the internet. SAP also offers maintenance and support for its ERP, including regular updates and technical assistance to keep business customers’ systems working. Other providers also supply maintenance and support for SAP’s on‑premises ERP, competing with SAP, often on more favourable commercial conditions (ie price). Background On 25 September 2025, the Commission opened its investigation. On the same day, it...

FORTHCOMING CHANGE relating to penalty reform calls for evidence and behavioural penalties reform: At Budget 2025, the government released a summary of feedback to the consultation opened at Spring Statement 2025 on behavioural penalties reform, and confirmed its plan to move ahead with proposals to revise penalties for inaccuracies in tax returns and for failures to notify chargeability. This consultation was informed by two earlier calls for evidence: an initial call for evidence, ‘The Tax Administration Framework: Supporting a 21st Century tax system’, published on 23 March 2021, followed by a summary of responses on 30 November 2021 a second call for evidence, ‘The Tax Administration Framework Review – enquiry and assessment powers, penalties, safeguards’, issued on 15 February 2024, with a summary of responses on 30 October 2024; this phase set out potential penalty reforms, including changes to suspension and escalation for ongoing or repeated non-compliance The consultation outcome presented at Budget 2025 confirms the government’s intention to prepare draft legislation...

CASE HUB NOTE—appeal lodged before the CAT in Case 1337/1/12/17 See the timeline and commentary for more detail. Case facts Outline A CMA investigation under Article 101 TFEU/Chapter I into a cartel engaged in price‑fixing and market‑sharing for the supply of pre‑cast concrete drainage products (Case 50299). Latest developments On 18 March 2021, the CMA reported that it had obtained legally binding disqualification orders from Mr Eoin McCann and Mr Francis McCann of FP McCann Limited. Mr Eoin McCann has given an undertaking not to serve as a director of any UK company for 12 years, and Mr Francis McCann has undertaken not to do so for 11 years. Parties Stanton Bonna Concrete Limited and its parent companies Bonna Sabla SA, Consolis Finance SAS, Consolis SAS, and Consolis Group SAS (together, SBC) CPM Group Limited (CPM) FP McCann Limited (FP McCann) Market(s) The supply of pre‑cast concrete drainage products in Great Britain. These products...