News

HIGHLIGHTS The main income tax allowances and thresholds, the main national insurance thresholds plus the inheritance tax nil rate bands will stay at their current levels for an extra two years to April 2028. The threshold for the 45% additional … Continue reading →

Government bonds, often called gilts, are traditionally dull investments. However, as recent events highlighted, they are an important part of the financial landscape. Gilt-edged securities (gilts) earned their name in a bygone, pre-electronic era, when they were issued as certificates … Continue reading →

The latest data from the Office for National Statistics (ONS) reveals that more people than ever are working beyond age 65. Source: ONS 9/2022. One of the stranger economic statistics of recent times has been the strength of employment markets … Continue reading →

There are many simple ways to cut expenditure and ease the bite of inflation. Source: ONS. The peak reading for inflation is likely to have been changed by the government’s September decision to introduce a ‘price cap’ of £2,500 on … Continue reading →

The announcements in September’s not-so-mini-Budget have altered the balance between operating your business as self-employed or via a company. In September, the new Chancellor announced a range of tax and other changes including: The increases in corporation tax announced by … Continue reading →

September’s ‘mini-Budget’ made major changes to tax and national insurance contribution (NIC) rates, which have important short-term consequences. The ‘fiscal event’ that the new Chancellor, Kwasi Kwarteng, presented in late September was more a ‘maxi’ than a ‘mini-Budget’. It contained … Continue reading →

New legislation is set to simplify one aspect of tax on divorce or dissolution. Marriage is not what it used to be. In 2020, 46% of births in England and Wales took place outside of a marriage or civil partnership, … Continue reading →

New data from HMRC show the Treasury’s inheritance tax (IHT) receipts have doubled since 2012/13. Source: HMRC. Of all the various taxes levied in the UK, IHT is one of the most peculiar: For a start, its name is misleading. … Continue reading →

‘The Growth Plan’: 23 September 2022  Introduction Kwasi Kwarteng’s first set piece as Chancellor of the Exchequer was never going to be easy, even before the 0.5% increase in interest rates the day before. The new Prime Minister Liz Truss … Continue reading →

The Bank of England has said that inflation could reach over 13% before the end of the year. But that’s the lower end of the speculation. The inflation figure in July 2022 reached an eye-watering 10.1%, as measured on the … Continue reading →

The pandemic taught us many things, but some of them are already slipping away. The Covid-19 pandemic is now beginning to fade from the collective consciousness, despite the best efforts of the Omicron variants to snare those who had previously … Continue reading →

After a prolonged period of speculation, the new Prime Minister Liz Truss has announced preliminary details of how the government plans to deal with the energy price crisis. In late May this year, the then Chancellor, Rishi Sunak, announced a … Continue reading →

A new report by the Association of British Insurers says a significant increase in the minimum contributions to workplace pensions is required. October will mark the tenth anniversary of the introduction of automatic enrolment (AE) into workplace pensions. The latest … Continue reading →