{"id":7109,"date":"2022-07-25T12:12:48","date_gmt":"2022-07-25T11:12:48","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=7109"},"modified":"2022-07-20T11:34:01","modified_gmt":"2022-07-20T10:34:01","slug":"wealth-in-the-news-3","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/07\/25\/wealth-in-the-news-3\/","title":{"rendered":"Wealth &#8211; In the news"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Numbers of\nthose exceeding pension Annual Allowance on the rise<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In the past\nfive years, the number of individuals whose yearly pension contributions\nbreached the Annual Allowance (\u00a340,000) has soared by more than 675%<sup>1<\/sup>.\nIn the 2015-16 tax year, 5,460 people reported pension contributions exceeding\nthe Annual Allowance in their self-assessment forms. For the 2019-20 tax year,\nthe figure stood at 42,350. Meanwhile, the value of pension contributions\nbreaching the Annual Allowance rose by 564% during the same period.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>\u2018Screen\nsharing\u2019 scams \u2013 beware<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The Financial\nConduct Authority\u2019s<sup>2<\/sup> (FCA\u2019s) ScamSmart scheme has turned its\nattention to so-called \u2018screen sharing\u2019 scams, whereby fraudsters take over\ntheir victims\u2019 computers using remote desktop software. Since July 2020, the\nFCA has seen well over 2,000 such cases, with victims losing a combined total\nof \u00a325m between January 2021 and March 2022. One 59-year-old woman lost nearly\n\u00a350,000 when a scammer posing as a financial adviser convinced her to download\nscreen sharing software on the pretext of helping her complete a Bitcoin\ninvestment. Instead, they took advantage to access her banking details and\nother private information. <\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>House of\nCommons, 2022<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>2<\/sup>FCA, 2022<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong><em>The value\nof investments and income from them may go down. You may not get back the\noriginal amount invested. A pension is a long-term investment. The fund value\nmay fluctuate and can go down. Your eventual income may depend on the size of\nthe fund at retirement, future interest rates and tax legislation.<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Numbers of those exceeding pension Annual Allowance on the rise In the past five years, the number of individuals whose yearly pension contributions breached the Annual Allowance (\u00a340,000) has soared by more than 675%1. In the 2015-16 tax year, 5,460 people reported pension contributions exceeding the Annual Allowance in their self-assessment forms. For the 2019-20 [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":7110,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,88,90],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/7109"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=7109"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/7109\/revisions"}],"predecessor-version":[{"id":7111,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/7109\/revisions\/7111"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/7110"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=7109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=7109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=7109"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=7109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}