News

The Bank of England has been looking at the impact of its regular interest rate increases since December 2021, with analysis revealing savers are being short-changed. Source: Bank of England, NS&I. Every three months the Bank of England issues a … Continue reading →

If you were planning to fill the gaps in your national insurance contributions (NICs) record by 31 July, you no longer need to rush or worry – you now have until 2025.   As is often the case with financial deadlines, … Continue reading →

Recent data has revealed that inheritance tax (IHT) receipts reached a record level in the 2022/23 tax year. Source: HMRC. Every month the government publishes data that sets out HMRC’s cash tax receipts in detail. The data issued in late … Continue reading →

If you are self-employed, the new tax year may be longer than you think. If you are self-employed, until 2023/24, you have normally been taxed on the profits made in the accounting year that ends in the tax year. For … Continue reading →

The government has announced a new initiative to counter fraudulent activity, particularly in the financial sector. You might not be surprised to learn that fraud is now the most common crime in England and Wales, although you may not be … Continue reading →

An announcement in late May will herald a fall in gas and electricity bills from July. Source: Ofgem, Cornwall Insights. Remember the Ofgem price cap? A little over a year ago it was the headline grabber, with the news that … Continue reading →

If you have gaps in your national insurance contributions (NICs) record, then 31 July should be marked on your calendar. The introduction of the new state pension in April 2016 was one of the most significant reforms to state benefits … Continue reading →

The Financial Conduct Authority (FCA) has issued a warning on some trust services. An asset protection trust might sound like a good idea if you have assets you wish to protect. Unfortunately, the reality may be rather different, as the … Continue reading →

The government has deferred its decision on when to raise the State Pension age (SPA) to 68. In the US drama series, The West Wing, the day before the parliamentary recess was referred to as “Take out the Trash Day”. … Continue reading →

The recent problems in the banking world have raised questions around the current maximum protection for bank deposits: is it overdue for an increase? The figure of £85,000 is one you might have regularly seen in articles (or some adverts) … Continue reading →

Figures released alongside the Budget have highlighted a projected surge in the number of people who will pay more than the basic rate of tax. Source: OBR, HMRC. Both the Budget and the Autumn Statement are usually accompanied by a … Continue reading →

The rush to meet the voluntary national insurance contributions (NICs) top-up deadline of 5 April has forced HMRC to grant an extension to 31 July. The last major reform to state pensions took effect on 6 April 2016. From that … Continue reading →

A new government bill indicates that a change to the automatic enrolment minimum age, and increases to workplace pension contributions, could be on the horizon. Private members’ bills rarely get far in the parliamentary process. They all too easily fall … Continue reading →