News

Recent data suggests the number of company car drivers continues to fall. Source: HMRC. Once upon a time, the aspiration of many an office worker was to climb the ladder to the height at which a company car became part … Continue reading →

After already increasing taxes by £42 billion a year in 2021, the main focus of Chancellor Rishi Sunak’s Autumn Budget was on spending. The first Autumn Budget in three years – and Mr Sunak’s third in less than 20 months … Continue reading →

Double-digit tax increases to fund the latest social care reforms will have a ripple effect on taxpayers. When the Chancellor announces tax rises that are measured in double-digit billions, normally you can assume he is presenting a Budget. That was … Continue reading →

The Financial Conduct Authority (FCA) says many savers may have too much cash and face the risk of wealth erosion. As the regulator for personal financial products, the FCA is rightly concerned about financial scams and savers who are encouraged … Continue reading →

Increases to National Insurance Contributions (NICs) from next April have made employee pension contributions less attractive. That headline is not one you might expect to see from a financial adviser, but there is some solid logic behind it. Consider Jane … Continue reading →

State pension increases and the Triple Lock are back in the spotlight. About a year ago, during the first wave of the pandemic, several think tanks started to look at the potential repercussions of the then crumbling economy on state … Continue reading →

The Bank of England has suggested that interest rates may rise sooner than expected. After its August meeting, the Bank of England (BoE) was never expected to announce any change in base rate from the 0.1% set in response to … Continue reading →

The UK’s unusual tax year end date is coming under scrutiny in tandem with potential changes to the tax year basis for the self-employed. The start of the tax year in the UK is 6 April. It is a date … Continue reading →

New research has highlighted a growing retirement income gap between men and women, which has been exacerbated by the pandemic. According to the Office for National Statistics (ONS) life expectancy calculator, at age 55: Men have a life expectancy of … Continue reading →

The government has published draft legislation to raise the minimum age for drawing pension benefits from 55 to 57. At present, the normal minimum pension age (NMPA) at which you can draw benefits from a pension scheme is 55. That … Continue reading →

New HMRC data shows that in 2019/20, £9.9 billion of capital gains tax (CGT) liabilities were created. In July last year, the Chancellor unexpectedly asked the Office of Tax Simplification (OTS) to review “capital gains tax (CGT) and aspects of … Continue reading →

The Office for Budget Responsibility (OBR) has given Rishi Sunak its new worry list. It gives the Chancellor little wriggle room for potential Budget generosity. Every alternate year the OBR must issue a Fiscal Risks Report (FRR). Unlike the six-monthly … Continue reading →

National Savings & Investments has announced details of a new green savings product. One of the small surprises in March’s Budget was the announcement that National Savings & Investments (NS&I) would be launching “a new, retail savings product to give … Continue reading →