Action Fraud is warning the public to protect their loved ones as criminals cheat older and vulnerable victims out of cash and high value items through courier fraud. Data from Action Fraud, the national reporting centre for fraud and cyber crime, reveals that £10,325,133 has been lost by victims to courier fraud since the start […]
For those readers interested in financial news (some might call it noise), the unfolding story of Chinese property developer Evergrande (a name which is ironic given its dire financial position) has spooked global equity markets. The short version of the story is that the company is very highly leveraged i.e. it has borrowed US$300 […]
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 not the case in September, when Rishi Sunak set out measures that will bring a […]
ESTATE PLANNING – TOO IMPORTANT TO PUT ON HOLD All too often, people put off estate planning. This is understandable as, rather than preparing for the here and now, it requires you to consider what will happen when your life is over, hardly something most of us rush to contemplate. Consequently, estate planning often becomes, […]
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 the pandemic. The BoE, like its counterparts in the US, Eurozone and Japan, wants […]
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 the taxation of chargeable gains in relation to individuals and smaller businesses”. The top […]
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 steeped in history – think quarter days and the introduction of the Gregorian calendar […]
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 age ceiling took effect in April 2010 and was subject to a limited range […]
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 84 years, with a 1 in 4 chance of surviving to 92. Women have a […]
