News

In mid-May 2024, the Dow Jones Index crossed the 40,000 threshold for the first time. Source: Investing.com You might have noted headlines in May that the Dow Jones Index of US shares had broken through the 40,000 mark for the … Continue reading →

The National Audit Office (NAO) has published a report on HMRC customer service which isn’t a happy story. Source: HMRC historic data, Office for Budget Responsibility (OBR) estimates A common tactic for grabbing a headline, be it a politician or … Continue reading →

A useful new web tool has emerged, a little late in the game, in a joint effort from two government departments. In early 2023, HMRC and the Department for Work and Pensions (DWP) found they were unable to cope with … Continue reading →

As we count down to the general election in July, be wary of those manifesto promises not to raise tax rates. The Conservatives and the Labour party are going into the next election with the same key fiscal rule. This … Continue reading →

With allowances frozen or cut, you may have underpaid tax for 2023/24. Your tax position may have changed for the last year without you really noticing. Consider the following: Tax Year 2021/22 2023/24 2024/25 Personal allowance £12,570 £12,570 £12,570 Dividend … Continue reading →

National Savings provides a glimpse of the new bond promised in the Spring Budget. Jeremy Hunt’s Spring Budget had an emphasis on Britishness with talk of “the great British pub”, ‘the British ISA’ (now a UK ISA) and ‘Great British … Continue reading →

The fees for obtaining probate in England and Wales have increased. The fee charged to obtain probate in England and Wales has been increased from £273 to £300 (10%) and for confirmation in Scotland, which has a sliding scale by … Continue reading →

Many women born in the 1950s should be paid compensation for a shortfall in their pensions according to a new report. The WASPI (Women Against State Pension Inequality) campaign has been running for nine years. In that time, it has … Continue reading →

One of the many well-trailed announcements in the Spring Budget was the launch of a UK ISA. However, both its arrival and interest may be uncertain. Alongside the Budget, the Treasury published a consultation paper on a possible fifth ISA … Continue reading →

New calculations issued alongside the Spring Budget show just how higher rate taxpaying status is becoming ever more common. The Office for Budget Responsibility (OBR) received plenty of attention leading up to the Budget. It was widely portrayed in the … Continue reading →

An independent report suggests that the State pension age (SPA) should rise much faster than planned. The next SPA rise begins in under two years with a phased increase to 67 ending in April 2028. Yet, neither main political parties … Continue reading →

The Office for National Statistics (ONS) has been sorting through its inflation shopping basket. Every year in March, the ONS announces the results of a review of the approximately 750 items which it uses to compute inflation indices, such as … Continue reading →

One of the few surprises in the Spring Budget was the change affecting how child benefit is taxed for higher earners. The high income child benefit charge (HICBC or ‘hicbic’) was introduced in January 2013 to reduce child benefit payments … Continue reading →