The Treasury has forecast that it will receive an additional £5.1bn in tax by April 2019 as a result of the pension legislation introduced in 2015. Originally, it had estimated that the tax resulting from the pension changes would be much lower, and that people would make phased withdrawals from their pension pots over a […]
The latest statistics from Action Fraud show that in June and July, victims reported losing £2,059,501.29 to cryptocurrency scams – an average of £10,095.59 per person. In the same period, 203 reports of this type of fraud were made to Action Fraud. Fraudsters are cold calling victims and using social media platforms to advertise ‘get […]
Overall, the stock market has been generous over the course of the past eight years or so. This optimism continued into 2018, with further strong gains seeing equity indices around the world soar. This run was halted at the end of January and the market subsequently witnessed a correction with many share indices retreating from […]
HMRC’s latest statistics provide an insight into the income tax paying population. The figures reveal changes in the distribution of tax revenue over the last decade, with a growing share now coming from higher earners. The pie chart shows the proportion of 2018/19 tax expected to be paid by taxpayers in various bands of […]
Planning for retirement and the need for laterlife care are becoming the decade’s most talked-about areas of social policy. In the UK we are seeing a major shift in emphasis; financial provision for our retirement years is moving from being the responsibility of the state, to being the responsibility of the individual. Increased life expectancy […]
Important interest rate announcements were made in June, both in the UK and the US. The US Federal Reserve announced its seventh 0.25% increase in interest rates since December 2015, taking the level to 1.75%-2.00%. The rise had already been incorporated in market prices by the time it arrived, so of more interest were the […]
