News

The Chancellor has asked the Office of Tax Simplification to review capital gains tax. Within a week of giving his Summer Statement, the Chancellor wrote to the Office of Tax Simplification (OTS) asking it to “undertake a review of capital … Continue reading →

More arguments about wills are reaching the High Court. A recent report from the Ministry of Justice revealed that, last year in England and Wales, 188 cases involving contested wills were heard in the High Court, an increase of nearly … Continue reading →

The latest statistics on ISAs have emerged, showing nearly £270bn is held in cash. Individual Savings Accounts (ISAs) reached their 20th birthday in April last year. Somewhat belatedly, HMRC has now issued ISA statistics up to April 2019. These reveal … Continue reading →

The Chancellor’s Summer Statement introduced temporary changes in stamp duty land tax on homes, which prompted similar – but not identical – changes in Scotland and Wales. In his Statement on 8 July, the Chancellor raised the starting point for … Continue reading →

The second quarter of 2020 saw a substantial switch back from the falls of the first quarter. Index 2020 Q2 Change FTSE 100 +8.8% FTSE All-Share +9.8% Dow Jones Industrial +16.4% Standard & Poor’s 500 +21.8% Nikkei 225 +17.8% Euro … Continue reading →

The cricket season may only now be slowly getting underway, but May saw the Chancellor score two centuries which, in different times, would have deeply worried investors. Every month the Office for National Statistics (ONS) publishes a detailed summary of … Continue reading →

The adoption in the UK of a transatlantic approach to income tax could appeal to a cash-strapped Chancellor. “…only the little people pay taxes.” That 1980s comment by the New York Hotel owner Leona Helmsley sums up an attitude that … Continue reading →

The state pension triple lock may not survive much longer. The impact of Covid-19 on earnings could mean a change in the way that state pensions are increased in each year. If nothing is done, it could give pensioners a … Continue reading →

HIGHLIGHTS A £1,000 Job Retention Bonus will be introduced when the Coronavirus Job Retention Scheme ends for employees who have been furloughed. A new Kickstart Scheme will cover employers’ costs for new six-month work placements for trainees aged 16-24. A … Continue reading →

When a 75-year run is broken, something significant has probably happened. If you are of a certain age, ‘Keep going well…’ could have you instantly remembering the rhyming counterpart; ‘Keep going Shell’. At the end of April 2020 that 1960s … Continue reading →

The imminent payment on account does not have to be paid. The last Friday in July is the due date for the second 2019/20 self assessment payment on account. At least, in theory it is… One of the many measures … Continue reading →

The Covid-19 pandemic has created problems for the statisticians who calculate the rate of inflation. Inflation, as measured by the Consumer Prices Index (CPI), fell sharply in April to just 0.9% against 1.5% in the previous month. The main reason … Continue reading →

The fall in world stock markets has cut the value of many pension pots. Which would you choose as investment performance, assuming a £10,000 investment that would be untouched for 10 years? A steady return of 5% a year throughout … Continue reading →