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News in Review

The IMF has downgraded global growth forecasts, warning of heightened risks from US tariffs and policy uncertainty

Manufacturing output figures show stagnation, with firms citing declining demand, rising costs, and global uncertainty

UK consumer confidence has hit its lowest since November 2023 due to cost-of-living pressures and tariff fears

“Uncertainty is bad for business”

As policymakers gathered in Washington for the International Monetary Fund (IMF) and World Bank spring meetings, IMF Managing Director Kristalina Georgieva urged countries to act “swiftly” to resolve trade tensions jeopardising global growth. “Uncertainty is bad for business,” Georgieva warned, with tariffs causing companies to delay investment and consumers to curb spending.

The IMF highlighted the risk to global trade from President Trump’s tariffs, warning modern supply chains are highly interconnected. In its April 2025 World Economic Outlook, the IMF downgraded its global growth forecast, citing US tariffs and growing uncertainty. It now sees a 40% chance of a US recession, up from 25% and expects US growth of just 1.8% this year, down from 2.7% in January. It also warned, ‘Ratcheting up a trade war and heightened trade policy uncertainty may further hinder both short-term and long-term growth prospects. Scaling back international cooperation could jeopardise progress toward a more resilient global economy.’

The IMF now forecasts UK growth at 1.1%, ahead of Germany, France and Italy, though the UK is also expected to have the highest inflation among developed economies at 3.1%, due to rising energy and water bills. Despite this, the IMF thinks the Bank of England could cut interest rates three more times this year. Chancellor Rachel Reeves said the government was working “flat out” to secure a trade deal with the US. “We’re all grappling with this issue of tariffs but I think there is an understanding why President Trump wants to address some of the global imbalances there are in the system,” she said.

Challenging environment for manufacturers

UK manufacturing output was broadly flat in the four months to April, according to the latest CBI Industrial Trends Survey from the Confederation of British Industry (CBI). Although several sectors reported weaker performance, higher production in motor vehicles and transport helped offset the decline. However, manufacturers expect output to dip slightly by July.

New domestic and export orders fell in Q1 and could decline further in the months ahead. Manufacturers remain concerned about rising costs, falling new orders and heightened uncertainty around global economic conditions. Export expectations are particularly weak, with half of firms citing political or economic uncertainty abroad, the highest since April 2021. Cost pressures have intensified, with average costs rising faster than earlier in the year. Domestic prices are expected to continue rising, though export prices may remain stable.

The sector’s overall sentiment worsened in April and investment plans remain subdued. Firms expect to cut spending on buildings, machinery, innovation and training, blaming weak demand, poor returns and labour shortages. Employment is also under pressure – manufacturing headcount dropped at the fastest pace since October 2020.

CBI Chief Economist Ben Jones commented, “The uncertainty around global economic conditions only increases the importance of getting it right in domestic economic policy. Firms are already feeling the cumulative burden of rises in National Insurance contributions and the National Living Wage – and tariffs represent another headwind for the business sector.” 

Consumer confidence slumps

UK consumers have suffered an ‘extraordinarily unsettling’ April, according to GfK’s Consumer Confidence Barometer. The overall index score, which includes five different measures of consumer confidence, slipped to its lowest since November 2023, falling four points to -23, erasing this year’s gains. GfK said UK households were hit by ‘multiple April cost increases’ including higher energy, water and telecoms bills, as well as Stamp Duty and Council Tax. Concerns over US tariffs and the return of higher inflation also filtered through to consumers. Business sentiment has weakened as well, with private sector activity falling at the fastest rate in over two years, according to S&P Global.

**Stamp Duty deadline drives ‘blockbuster’ month**

Barclays reported mortgage completions increased by 50% in March, as buyers rushed to secure Stamp Duty savings before the temporary cut was phased out. March was the UK property market’s busiest month since September 2021, when activity was driven by pandemic-era low interest rates. The number of completions was up by 70% among first-time buyers, but Barclays said the high level of activity didn’t suggest broader confidence in the UK housing market. Its survey revealed just 16% of renters thought buying a property was achievable in the next five years.

Here to help

Financial advice is key, so please do not hesitate to get in contact with any questions or concerns you may have.

All details are correct at time of writing (30 April 2025)

Investment megatrends for 2025 and beyond

Megatrends are powerful, long-term shifts, which are already changing the way we live and work

Today, trends such as AI, defence spending, changing energy supplies and demographics, are evident

While markets fluctuate daily, megatrends are shaping the future, creating exciting opportunities

Investing megatrends are powerful, long-term shifts expected to reshape industries, economies and investment markets on a global scale. These aren’t just passing trends, they’re already changing the way we live and work, influencing how businesses operate and where investors put their money.

Geopolitical conflict

Global tensions have been rising in recent years, with lengthy conflicts in Europe, the Middle East and East Asia destabilising markets. Governments are ramping up defence spending, driving investment in military technology, missile systems and cybersecurity, especially as threats coming from AI emerge. For investors, global uncertainty presents opportunities as nations prioritise security and military innovation.

Artificial intelligence

More than just a trend, AI is driving economic change by automating tasks, reshaping business models and boosting efficiency. Massive investment in data centres, cloud computing and hardware is fuelling its expansion, with companies supporting AI infrastructure poised for strong growth. AI is also transforming industries by analysing vast data, generating insights and accelerating digital change. While concerns over an ‘AI bubble’ have surfaced this year, especially after a new Chinese competitor called DeepSeek made headlines, AI seems unstoppable.

Demand for energy

Global energy consumption is surging, driven by economic growth, transport electrification and again, AI. This rising demand is reshaping the energy sector, creating both challenges and investment opportunities. Nuclear energy is making a comeback, with older plants being refurbished and new projects progressing. Meanwhile, offshore oil and gas exploration is reviving, showing that fossil fuels still play a key role. At the same time, renewable energy is thriving, with investments in solar, wind and hydrogen. Energy systems are increasing in sophistication as companies develop smart grids and energy storage solutions.

Shifting demographics

People are living longer, which means investors can benefit by focusing on sectors set for the rising demand in medical services, treatments and elderly care. Similarly, businesses catering to older consumers, such as those in travel, wellness and lifestyle industries, are poised to capitalise. At the same time, medical innovation is changing how we live and how long we live. Obesity drugs have reduced diabetes risk by 73% and cardiovascular deaths by 20%, while new cancer treatments and AI-driven drugs are pushing boundaries.

While markets fluctuate daily, megatrends are shaping the future, creating exciting opportunities along the way.

Residential Property Review – April 2025

Data shows 64% of homeowners underestimate how much their property is worth

In Q1 demand across prime London neighbourhoods fell nearly 4% compared to Q4 2024

Net mortgage lending fell to £3.3bn in February, down £0.9bn from January

Most homeowners underestimate property value by tens of thousands

Zoopla research says most homeowners are in the dark about their property’s true value.

While house prices have held steady in recent years, long-term growth has come as a surprise to many homeowners. Zoopla’s data shows 64% of homeowners underestimate how much their property is worth. Over a third valued their home at least £100,000 too low, while nearly one in five missed the mark by £250,000 or more.

Undervaluing their biggest financial asset is especially common for homeowners in the North East, where 81% reported their property was worth more than expected, followed closely by Scotland and the South West. Many said rising demand in their area or home improvements had driven the increase in value. Owners who’ve held their property for 30 years or more tended to be most in tune with market trends, checking values more regularly.

Prime London property market cools in early 2025

Demand for high-end London homes dipped in Q1 2025, despite the strong finish to last year.

While pockets of the market remain resilient, overall buyer appetite has softened across much of London’s luxury property scene. Figures from estate agent Benham and Reeves show demand across prime London neighbourhoods fell nearly 4% compared to Q4 2024, with just under 16% of homes priced at £2m or more securing a buyer.

Richmond was the most sought-after area, with nearly 39% of homes finding a buyer. Chiswick saw the biggest quarterly boost in activity, while Clapham recorded the steepest decline.

Demand for ‘super-prime’ homes priced at £10m upwards slipped to just 3.1%. Wimbledon led the pack, with a third of properties finding buyers, although this was a sharp drop from the previous quarter. Victoria and Chelsea posted gains of 5.6% and 3.2%, respectively.

Home moving costs climb sharply as Stamp Duty relief ends

Moving costs have risen sharply over the past year, with Stamp Duty changes hiking buyers’ bills.

Estate agency Yopa says the average cost of moving is now £51,826, up nearly 11% in just 12 months. One year ago, the average mover paid around £1,400 in Stamp Duty. That jumped to just over £2,000 earlier this year, but with tax relief thresholds changing on 1 April, the typical bill has now more than tripled to £4,528. Conveyancing fees now average £1,364, up 12.5%, while average mortgage payments have risen 3% to £1,432. Removal costs have edged higher to just under £920. The biggest cost incurred, averaging £43,000, is a deposit.

Yopa’s CEO Verona Frankish said, “Like house prices, [home ownership] costs have increased pretty much across the board and total as much as £52,000 depending on which UK nation you’re looking to make your move within.”

Mortgage borrowing slows despite falls in rates and inflation

Mortgage borrowing dipped in February, as affordability pressures weigh on homebuyers.

The Bank of England’s latest Money and Credit report showed net mortgage lending fell to £3.3bn in February, down £0.9bn from January. Overall lending remained stable, with annual growth in mortgage borrowing at 1.9%.

Gross mortgage lending rose to £24.3bn in February, the highest since November 2022, while repayments also increased to £19.8bn. However, the number of mortgage approvals for house purchases edged down slightly to 65,500, hinting at subdued future borrowing. Approvals for remortgaging with a new lender also slipped to 32,000.

Karim Haji, UK Head of Financial Services at KPMG, said, “The surprising dip in mortgage approvals against a backdrop of lower inflation, interest and mortgage rates and the Stamp Duty increase, suggests that affordability continues to put pressure on household finances.”

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

All details are correct at the time of writing (16 April 2025)

Commercial Property Market Review – April 2025

In central London, twice as many businesses upsized than downsized last year, with one-third of London lettings coming from new entrants

Premium pricing, limited development supply and consistent performance makes Edinburgh one of the UK’s most attractive hotel markets

According to research, US investors have acquired close to £50bn of UK commercial assets since 2021

Office market outlook brightens as demand outpaces supply

The UK office market is recovering, with new data pointing to a steady increase in demand.

Rightmove’s Commercial Insights Tracker reported interest in office space rose 11% in Q4 2024 compared to Q4 2023, while supply grew by just 2%. The investment side of the market saw even greater momentum, with demand up 57% against a 1% rise in available stock.

The findings reflect positive industry forecasts for the commercial property market. CBRE confirmed companies that planned to reduce their office footprint have done so and many are actively expanding again. In central London, twice as many businesses upsized than downsized last year, with one-third of London lettings coming from new entrants. Consultancy Hollis predicts a 10% rise in office employment outside London over the next decade, creating demand for an additional 50 million sq. ft of office space across the UK.

Investor appetite for UK healthcare rises amid stable returns and social need

The sector is set for an investment surge, with 93% of investors planning to boost their allocations, according to CBRE.

Most investors polled in CBRE’s Healthcare Sentiment Survey expect transaction volumes to rise in 2025, with specialist and elderly care homes attracting the most capital. Healthcare properties linked to age-related care have shown resilience during economic downturns and offer dependable income over time. Healthcare operators are also upbeat, with 62% planning to expand in the next five years. While rising staff costs and new tax obligations pose challenges, staffing pressures have eased, with vacancy rates at just 4.3%.

While high construction costs and sluggish planning approvals are still widespread concerns, nearly half of developers plan to take on new projects in 2025. Demand is strongest in the North West, with growing interest in Scotland and Northern Ireland.

Scotland stands out as UK hotel investment hotspot

Scotland leads the UK hotel market, with Edinburgh top of Colliers’ 2025 Hotel Market Index.

Edinburgh hotels recorded an 85% occupancy rate last year, alongside a 10% rise in average daily rates and a 13% uplift in revenue per available room. According to Colliers, premium pricing, limited development supply and consistent performance makes Edinburgh one of the UK’s most attractive hotel markets. Glasgow climbed four places in the rankings, and revenue-per-available-room (RevPAR) rose by nearly 9% in 2024, supported by a busy events schedule, corporate travel and relatively low build costs.

Beyond the capital, Inverness is a rising star, with demand fuelled by experiential tourism and access to the Highlands. A 10% rise in RevPAR and limited competition in new development has sparked interest in boutique and luxury offerings. Together, these three cities demonstrate Scotland’s strength as a hotel investment destination.

Retail real estate set for strong year as investment demand rises

London remains the top destination for global capital, with hotels and mixed-use portfolios dominating deal activity. West End offices in particular showed signs of renewed interest. However, the South East continues to attract strong interest, and the North West and West Midlands have been attracting growing volumes of capital, particularly in the build-to-rent, logistics and student accommodation sectors.

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

All details are correct at the time of writing (16 April 2025)

Your pension and IHT

By Q3, the government is expected to provide implementation guidance on how pensions and death benefits will be treated

Any changes are likely to have the greatest impact on people with established estate plans

As proposals are not finalised, it’s wise to consider potential implications but await the final guidance before overhauling plans

Chancellor Rachel Reeves announced plans to include unused pension funds and death benefits within the value of estates for IHT purposes, during the Autumn Budget 2024. Under the proposals, pension administrators will report and pay IHT directly to HMRC.

Death-in-service benefits paid out by employers have traditionally been separate from personal pensions for the purposes of calculating an IHT bill. By including unused pensions and death-in-service benefits in IHT calculations, more estates could face higher taxes.

This announcement came as a surprise, particularly to those who have worked hard to build a pension as a tax-efficient way to pass wealth on to loved ones. Any changes are likely to have the greatest impact on people with established estate plans.

Timeline

A 12-week technical consultation on the proposed changes concluded on 22 January. Once the feedback has been reviewed, government consultation principles outline that responses should be published within 12 weeks. By the third quarter of the year, the government is expected to provide specific implementation guidance on how pensions and death benefits will be treated under the new regime. Any changes won’t take effect until 6 April 2027.

As proposals are not finalised, it’s wise to consider potential implications but await the final guidance before overhauling plans. This still gives us ample time to make changes before implementation in 2027.

A review of existing pension arrangements would be useful so we can think about how the proposed changes could affect what your beneficiaries would receive.

Time and knowledge

Rest assured we are monitoring developments and will keep you in touch as we know more. When we have more certainty, we may suggest you consider alternative options that ensure your estate remains as tax efficient as possible and aligned with your goals. Together, we’ll help you secure your family’s future with confidence.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. The Financial Conduct Authority (FCA) does not regulate Will writing, tax and trust advice and certain forms of estate planning.

Stamp Duty changes – tune in

Stamp Duty Land Tax (SDLT) rates reverted on 1 April 2025 to pre-September 2022 levels

First-time buyers will have to start paying the tax on any home valued above £300,000

Non-first-time buyers will pay SDLT on properties valued above £125,000.

From 1 April 2025, Stamp Duty Land Tax (SDLT) rates revert to the thresholds prevailing before temporary increases were put in place in September 2022. What will it mean for homebuyers?

What are the new thresholds?

Stamp Duty is a government tax paid by house buyers as a lump sum upon completion. It is payable only by buyers purchasing a property or land over a certain price bracket. Currently, existing homebuyers pay no SDLT on properties up to the value of £250,000, while FTBs owe nothing on any purchase below £425,000.

After reverting to their previous levels, however, FTBs will have to start paying the tax on any home valued above £300,000. Everyone else will return to paying Stamp Duty on properties valued above £125,000.

First-time buyers bear the brunt

Whilst this change will impact everyone planning to move, it is arguably FTBs who will be hit hardest. In the heat of the pandemic in 2022, the government announced a temporary change to Stamp Duty to support the housing market and those hoping to get on the housing ladder.

Now, affordability questions will return along with the lower thresholds. As well as adding thousands of pounds in extra costs for many, others will miss out on first-time buyers’ relief when buying a property up to £500,000.

Plan, don’t panic

After the change, fewer than one in 10 buyers will get a Stamp Duty free purchase, compared to a third in the current market, research¹ suggests. Analysts also predict fierce competition for properties that fall just below the new thresholds.

Although the new thresholds add an unwelcome price bump to a house purchase, buyers should not panic. The key is to factor in any SDLT costs into your budget and understand how this affects your affordability.

¹Yopa, 2025

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments. Financial protection policies typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse.

News in Review

Rachel Reeves described two months of falling inflation, along with growth in real wages and GDP, as “encouraging signs”

Keir Starmer has reiterated his commitment to securing “free and open trade” in order to protect the national interest

The UN trade body UNCTAD predicted global economic growth would slow to 2.3% this year, falling below the 2.5% level ‘widely viewed as signalling a global recession’

“A global trade war would create renewed inflation, increasing pressure on British families”

Official data from the Office for National Statistics (ONS) last week showed UK inflation eased in March. The Consumer Prices Index (CPI) rose by 2.6% in the year to March, down from a 2.8% rise in the 12 months to February.

The fall back in inflation can be attributed to a reduction in fuel prices and games, toys and hobbies – in particular computer games. Food inflation also eased from 3.3% to 3% in the month. Services inflation, a key measure of underlying price pressures for rate-setters, slowed more than expected to 4.7% in March from 5% the previous month.

The lowest reading since December and a steeper drop than expected, economists in a Reuters poll had predicted a CPI reading of 2.7% in March. The slight tempering in CPI provided a boost for Chancellor Rachel Reeves, who said that two months of falling inflation, along with growth in real wages and GDP, were “encouraging signs.”

Looking ahead, Research Director at the Resolution Foundation, James Smith said the reduction in CPI “comes among overwhelming uncertainty as to where inflation goes from here.” Expecting a sharp rise in inflation in April, due with the Ofgem price cap increasing, Smith added, “the truth is that the outlook for UK inflation hinges on President Trump’s tariff policies. Global trade uncertainty could drive down our prices, with oil already down more than 10% since the start of April… a global trade war would create renewed inflation, increasing pressure on British families already struggling with the cost of living.”

With the next Monetary Policy Committee (MPC) meeting concluding on 8 May, the Committee have previously signalled their intention to adhere to a “careful and gradual” approach to cutting borrowing costs. The impact of a global trade war will dominate the central bank’s strategy going forward.

UK trade talks

During their first call since ‘Liberation Day’ tariff announcements, last week Donald Trump and Keir Starmer conducted “ongoing and productive discussions between the UK and US on trade,” according to a Downing Street spokesperson. The Prime Minister has reiterated his commitment to securing “free and open trade” in order to protect the national interest, following the imposition of 10% tariffs on UK goods and 25% on car, steel and aluminium imports. In addition, the White House confirmed the leaders spoke about security in the Middle East and resolving the Ukraine conflict.

Shrinking global trade and growth expectations

Last week the World Trade Organization (WTO) revised its outlook, forecasting a 0.2% decline in global goods trade in 2025. The downturn is largely attributed to US tariffs, with North America expected to see the steepest fall. WTO Director General Ngozi Okonjo-Iweala expressed concern over the growing “decoupling” between the US and China, saying the “phenomenon” is “really worrying.” The WTO warned of ‘severe downside risks,’ including political instability and reciprocal tariffs, which could result in an even steeper reduction in global trade.

On the same day, the UN trade body UNCTAD predicted global economic growth would slow to 2.3% this year, falling below the 2.5% level ‘widely viewed as signalling a global recession,’ according to the organisation.

Meanwhile, the International Monetary Fund (IMF) Managing Director Kristalina Georgieva, in her keynote speech at the organisation’s spring meeting in Washington, said there will be “notable” markdowns to growth forecasts, in the face of trade policy uncertainty, which she referred to as “literally off the charts.”

ECB reduces key interest rate

The European Central Bank (ECB) cut interest rates for the seventh time since last June, lowering the deposit rate by 0.25% to 2.25%, in line with analyst expectations. The ECB also dropped the term ‘restrictive’ in terms of monetary policy stance from its statement, signalling a shift as trade tensions continue to weigh on Europe’s economy. ECB President Christine Lagarde warned that “downside risks to economic growth have increased,” with the impact of US tariffs still unfolding. She added that escalating global trade tensions are likely to dampen exports and weaken investment and consumption. Lagarde also cautioned that deteriorating market sentiment could tighten financial conditions further.

Here to help

Financial advice is key, so please do not hesitate to get in contact with any questions or concerns you may have.

All details are correct at time of writing (23 April 2025)

News in Review

President Trump paused most tariffs for 90 days, briefly boosting global market confidence amid uncertainty

The UK economy unexpectedly grew 0.5% in February, driven by services, production and construction

“We want to secure the best deal possible for British jobs and British industry”

After a tumultuous time for global markets following his Liberation Day announcement last Wednesday, President Trump took to social media to reveal a 90-day suspension on most of the tariffs, plus a lowering of reciprocal tariffs.

Despite a lack of clarity over what will happen within the three months, the monumental U-turn initially boosted markets, with Trump saying there will be “fair deals for everybody.”

The White House confirmed a 10% rate on most countries will be maintained, including those in the EU, plus higher 25% taxes on steel, aluminum and cars. Trade tariffs for China were increased to 125%, after they retaliated with elevated import tariffs. Canada and Mexico still face the tariffs imposed in March.

At a cabinet meeting on Thursday, Trump described the turmoil on global markets that led to his decision to delay tariffs as “a big day,” highlighting the record stock market gains in the hours after he announced the U-turn. He added, “We’re working with a lot of different countries, and it’s all going to work out very well… we’re in good shape.” 

On home shores, a Downing Street spokesperson said the UK will “coolly and calmly” continue negotiations with the US. Rachel Reeves added, “Of course we want to secure the best deal possible for British jobs and British industry… we are absolutely resolved to do everything we can.”

News came at the end of the week that the Trump administration is exempting imported smartphones, laptops and other electronics from reciprocal tariffs. Market sentiment improved initially following the shifting signals on US trade policy.

UK economy grows

New data from the Office for National Statistics (ONS) shows the UK economy grew by 0.5% in February, beating expectations of 0.1% growth in the period. Contributing factors to the surprise boost in growth include service output (increased by 0.3%, the largest contributor), while production output grew by 1.5% and construction output by 0.4%.

This positive uptick follows no growth in January (revised up from a 0.1% fall). In the three months to February, real GDP is estimated to have grown by 0.6%.

Rachel Reeves said the growth figures are an “encouraging sign,” adding “we must go further and faster to kickstart economic growth, provide security for working people and put more money in their pockets.”

This strength in growth is likely to be short-lived, with higher tariffs and business taxes set to impact.

Government gains control of British Steel

On Saturday, MPs had their Easter break interrupted as emergency legislation was rushed through Parliament, allowing the UK government to take control of Chinese-owned British Steel. Business Secretary Jonathan Reynolds said nationalising the Scunthorpe plant, which employs 2,700 people, may be the next step. He sought emergency powers to stop owner Jingye from shutting its blast furnaces, which would end primary steel production in the UK. In a rare move, both Commons and Lords returned for a Saturday sitting to debate the bill, which has now passed and received Royal Assent.

Unemployment stagnant, pay growth strong

The UK’s unemployment rate remained steady at 4.4% in the three months leading up to February 2025, according to latest ONS data released on Tuesday. This stability comes amid signs of a cooling labour market, with job vacancies falling below pre-pandemic levels for the first time since mid-2021 and a decrease of 78,000 in payroll employment during March.

Average weekly earnings, excluding bonuses, increased by 5.9% year-on-year in February. Including bonuses, wage growth held steady at 5.6%. This sustained growth in earnings, particularly in the public sector, has been a key driver. Liz McKeown, Director of Economic Statistics at the ONS said, “Regular pay growth remains strong having increased slightly in the latest period. Growth accelerated in the public sector as previous pay rises fully fed through to our headline figures, while pay in the private sector was little changed. The latest survey results estimate that the unemployment rate is unchanged on the previous three months, while separately the number of employees on payroll fell slightly over the same period.”

Here to help

Financial advice is key, so please do not hesitate to get in contact with any questions or concerns you may have.

All details are correct at time of writing (16 April 2025)

Kickstart the new tax year with confidence

With the new tax year allowances in place, now is the time to make smart financial decisions

Taking time to review and refine your financial plan can help you stay on track for the future

Ensure you’re making the most of the opportunities available – your future self will thank you!

The beginning of the new tax year is the perfect opportunity to take control of your finances and set the tone for the months ahead.

By implementing a thoughtful financial plan, you can make the most of your money, achieve your goals and ensure financial peace of mind. Here are just a few key considerations to help you build a solid plan:

Maximise tax-efficient opportunities

The new tax year brings fresh allowances and reliefs potentially available to reduce your tax liability:

Use your ISA allowance

Save or invest up to £20,000 (the current annual limit) in an Individual Savings Account (ISA) to grow funds tax-free

Pension contributions

Maximise pension contributions to benefit from tax relief as well as potentially lowering your taxable income

Capital Gains Tax planning

Make use of your annual exemption to avoid unnecessary tax liabilities.

Build a solid financial plan for a stronger financial future

Why not take time to reset and refocus on your financial goals? With clear objectives, smart tax planning and disciplined financial habits, you can start the new tax year strong and lay the foundation for long-term financial success.

Spring tips for UK homebuyers

Spring typically offers an uptick in listings, with 70% of homes listed in February and March completing quickly

Buyers have benefited from stable mortgage rates and a wider selection of homes to offer on

Early preparation is crucial for making informed and successful decisions in a competitive market

As spring gets under way, the UK property market is looking refreshed. Rightmove¹ reports the average asking price rose by 1.7% (£5,992) to £366,189 in January 2025, the best start to the year since 2020. This suggests both buyers and sellers are optimistic about the property market this year.

Why is spring popular with buyers and sellers?

Longer daylight hours and blooming gardens make properties more appealing in springtime, boosting seller prospects. Rightmove says nearly 70% of homes listed in February and March go through to completion, with February homes taking an average of just 51 days to find a buyer.

A buyer’s market

With more homes being listed, buyers have more options and better chances of securing a good deal. Sellers are pricing competitively and mortgage rates have stabilised.

How buyers can get a head-start

Acting early can help buyers beat the competition. Securing a mortgage agreement in principle before starting the search strengthens a buyer’s position when making an offer. A clear budget is essential, considering not just the deposit but also legal fees, Stamp Duty, and moving costs. First-time buyers (FTBs) should also be aware of Stamp Duty changes from 1 April affecting properties over £300,000.

Researching local property prices and neighbourhoods helps buyers assess fair value. Transport links, schools and shops can impact both lifestyle and long-term investment potential. With high demand expected, scheduling viewings early increases the chances of securing the right home before competition intensifies.

Talk to us about your plans

We can help buyers and sellers create a strategy to manage savings, navigate mortgage options and make informed decisions. With strong market conditions and increased choice, now looks a great time to move onto or up the property ladder.

¹Rightmove, 2025

As a mortgage is secured against your home or property, it could be repossessed if you do not keep up mortgage repayments.