National Savings & Investments has launched two top of the savings league table one-year bonds, but the headline rates may not be your net return. The primary role of National Savings & Investments (NS&I) is “cost-effective financing for the government.” In the current financial year, NS&I has been charged with raising between £4.5 billion and […]
Recent data from HM Revenue & Customs (HMRC) has shown that Inheritance Tax (IHT) receipts for the 2022–23 tax year totalled £7.1bn, up £1bn from the previous tax year. With receipts consistently rising, this significant uplift can be attributed in part to ‘a combination of the recent rises in asset values and the government’s decision […]
The property outlook for landlords remains somewhat contradictory. On the one hand, rents increased by 5% across the UK in the year to May 2023, but set against this, property prices continue to fall, with many sellers having to discount by 5% or more to secure a sale. Mortgage costs remain high, with the rate […]
Capital gains tax raised £16.7 billion in 2021/22, according to HMRC – a 15% increase over the previous year. But what lies behind these statistics? In early August media outlets reported that the government had raised a record amount of capital gains tax (CGT) last year. There was no doubting the […]
Is Downing Street really planning to abolish inheritance tax? Shortly before the so-called ‘silly season’ (Parliament’s summer recess) got underway, several newspapers carried stories that Downing Street was considering the abolition of inheritance tax (IHT) in an attempt to appeal to certain voters. The speculation did not last for long before the Uxbridge by-election […]
As interest rates continue to rise, we need to consider why. Cast your mind back to July 2020. Covid-19 was creating massive social and economic disruption, reflected in a Bank of England interest rate of just 0.1% and instant access savings rates were little more than 1%. Three years later, the Bank of England […]
