Currently a Junior Individual Savings Account (JISA) can be held by a child until the day they turn 18, the annual allowance for which is currently £9,000. On their 18th birthday, the child can open an adult stocks and shares ISA, the annual subscription which is currently £20,000. All pretty straightforward. Now, for the interesting […]
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Residential Property Review – August 2022
Slowing market as demand dips again The UK residential market continues to slow at a steady pace, the latest Royal Institution of Chartered Surveyors (RICS) Residential Survey and Savills’ Housing Market Update both indicate, as demand wanes and supply remains low. New buyer enquiries fell for a third consecutive month in July, the RICS report […]
Commercial Property Market Review – August 2022
Caution key in Q2 RICS survey Μacroeconomic pressures are negatively influencing investor sentiment, according to the latest Royal Institution of Chartered Surveyors UK Commercial Property Survey (RICS), which signalled a more cautious tone in the commercial property market. Rising interest rates remain a burden, with a net balance of -42% of respondents acknowledging worsening credit […]
News in Review
“Own-label ranges are at record levels of popularity” UK retail sales improved in July, according to data released on Friday from the Office for National Statistics (ONS). Sales volumes rose by 0.3% in the month, outperforming predictions of a 0.2% decline. According to ONS, sales volumes were 2.3% above their pre-COVID (February 2020) levels, but […]
News in Review
“These are challenging times” In a week where droughts were officially declared across England, the Office for National Statistics’ (ONS) latest assessment of the UK economy revealed tough economic conditions. In the second quarter, the UK’s gross domestic product (GDP) fell by 0.1%, largely the result of a 0.6% monthly dip in June. According to […]
Mortgage myths – fact versus fiction
MYTH: You need a perfect credit rating A bad credit history can have a negative impact on your mortgage application, but it doesn’t make getting a mortgage impossible. Indeed, there are specialist lenders who offer mortgages to people with less favourable credit histories. MYTH: You can’t get a mortgage if you’re self-employed It’s also a […]
Gen up on pension numbers
With so many financial priorities to juggle, it can be hard to put your pension first, especially with spiralling household costs. Starting or maintaining your pension contributions is important. Whatever type of pension plan you have, you get tax relief at the highest rate of Income Tax you pay on all contributions you make, subject […]
IHT – time for a refresh?
Latest data from HM Revenue & Customs (HMRC) revealed IHT receipts for April 2021 to March 2022 were £6.1bn, 14% (£0.7bn) higher than in the same period 12 months earlier. Factors at play Receipts have increased partly due to higher death rates during the pandemic, as well as due to the rise in property prices […]
Don’t give up your protection policy
With households facing the biggest squeeze on their incomes in many years, it’s understandable that families are looking for ways to cut costs. When looking to cut back, reviewing subscriptions and direct debits (for example, for streaming services, food subscription boxes or gym memberships) is often a good place to start, but there is one […]
News in Review
“It’s our job to get inflation back down to 2%, so we have raised interest rates” After five successive smaller rises, last week saw the Bank of England’s Monetary Policy Committee (MPC) up the ante and increase Bank Rate by 0.5 percentage points, the biggest rate hike since the MPC was established in 1997. At […]