An independent body of tax experts has set out the framework for a one-off wealth tax. Will the Chancellor be tempted? “[W]e have a responsibility, once the economy recovers, to return to a sustainable fiscal position.” So said the Chancellor … Continue reading →

From February new rules apply if you choose pension drawdown but do so without taking advice. The Covid-19 pandemic has deferred many events of all sizes, from the Tokyo Olympics to millions of foreign holidays. One of the less prominent … Continue reading →

As the third Covid-19 lockdown took effect on 5 January 2021, the Chancellor announced a further £4.6 billion in grants to the retail, hospitality and leisure sectors. This new round of support follows extensions to the job retention and loan … Continue reading →

The latest phasing of State Pension Age (SPA) increase is now finished. On 6 October 2020, the SPA reached 66. Unless current legislation is changed, it will remain there until 6 April 2026, at which point the next increase, to … Continue reading →

The Chancellor’s November ‘Financial Statement’ revealed more spending and more government borrowing, but no mention of tax rises.  Source: Office for Budget Responsibility The UK budgetary cycle is in something of a mess at present. In 2019, unusually there was … Continue reading →