Most grandparents are familiar with the financial challenges faced by their grandchildren as they progress through education and into the world of full-time work. Costs such as university tuition fees can leave upcoming generations with substantial debts even before they enter the workplace, making it harder for them to save for a deposit on their […]
Category archives: General Financial News
‘Cash is king’ mentality could prove costly
For many years, savers have seen cash as a safe, reliable option when building up a nest egg for the future. However, inflation has the potential to seriously reduce the value of cash savings over the years. Whilst a modest level of price inflation is considered a marker of a healthy economy, high inflation rates […]
New investment habits set to outlast lockdown
In the past 18 months, many Britons have saved more money than usual as the closure of the economy reduced spending. Many canny investors have been channelling their savings into increased investment contributions. New research1 suggests that the majority of UK investors (76%) intend to keep up higher levels of contributions, with half saying they […]
Working together to tackle the climate crisis
Due to be held this November in Glasgow, the United Nations 26th Conference of the Parties – COP26 – is recognised as the most important climate change event since the 2015 Paris Agreement. The summit will bring together world leaders to build on the work left unfinished by COP25. Countries are being asked to co-operate […]
Money – In the news
A third enter retirement in debt Retirement. You’ve paid off your mortgage, said goodbye to your colleagues for the last time and now it’s finally time to put your feet up and enjoy some well-deserved rest, free of commitments. That’s the ideal, anyway. Unfortunately, many retirees enter this stage of their lives with significant commitments […]
Wealth – In the news
ESG assets will exceed £36.5trn by 2025 ESG assets are forecast to exceed £36.5trn – over a third of projected global assets – by 2025, according to Bloomberg Intelligence1. The analysis comes as environmental, social and governance factors are becoming increasingly important to investors across the globe. Adeline Diab, Head of ESG and Thematic Investing […]
Triple lock changes for 2022-23
After much speculation, in September, the Secretary of State for Work and Pensions, confirmed suspension of the average earnings component of the pension triple lock, to avoid a disproportionate rise of the State Pension following the pandemic. For the 2022-23 tax year only, the new and basic State Pension will increase by the higher of […]
National Insurance and dividend tax rises
A new health and social care tax will be introduced across the UK from April 2022. The tax will initially begin as a 1.25 percentage point increase in National Insurance, paid by both workers and employers. From April 2023, it will become a separate tax on earned income, calculated in the same way as National […]
Estate planning update
HM Revenue & Customs (HMRC) published its annual statistics on Inheritance Tax (IHT) in late July, revealing that IHT payments in the 2020-21 tax year totalled £5.4bn, up around £0.2bn (almost 4%) on the previous year, when receipts were slightly lower than 2018-19. Typically, more than 20,000 deceased estates a year are subject to an […]
Reasons for economic optimism in the autumn months
Over the summer months, forecasting agencies took turns to upgrade their growth projections for developed nations as a succession of strong economic data was released. For example, in its latest assessment, the International Monetary Fund (IMF) increased its combined 2021 growth forecast for advanced economies by half a percentage point, primarily due to the success […]