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Profits boosted at Northern Rock

Northern Rock has increased its pre-tax profits to £295 million for the year ended December 31, up 18 per cent from the previous year&#39s figure of £250m.

Its profit after tax increased to £205m from £183m.

Northern Rock says it achieved record gross lending of £8.9 billion, up 39 per cent from £5.8m and record net lending of £5.1bn, up 42 per cent from £3bn.

It now has a 7 per cent share of the UK net mortgage lending market.

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Guide: how to… audit your auto-enrolment scheme compliance

As the Pensions Regulator starts to bare its teeth and the changes mentioned in the Budget and Queen’s Speech start to come into force, it is essential that you understand your scheme and the processes you need to undertake to ensure it remains compliant. Our second re-enrolment guide looks at how to audit the key areas of your auto-enrolment scheme.

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