WERE YOU BORN AFTER 5 APRIL 1971?

A new consultation paper has set out more details of an increase in the normal minimum retirement age.  In February the Treasury and HMRC published a consultation paper on implementing an increase in the normal minimum pension age (NMPA) from 55 to 57. The NMPA sets the earliest age at which retirement benefits (lump sum [...]

By |2021-03-11T11:02:41+00:00March 11th, 2021|Uncategorised|0 Comments

UK INTEREST RATES QUADRUPLE IN TWO MONTHS

The UK base rate may be stuck at 0.1%, but there is interest rate movement elsewhere. The Bank of England has kept its base rate below 1% for over 12 years now. The rate first dropped to 0.5% on 5 March 2009, during the financial crisis. It did briefly rise to the dizzying heights of [...]

By |2021-03-11T11:00:07+00:00March 11th, 2021|Uncategorised|0 Comments

INFLATION: AT A TURNING POINT?

We could see a jump in inflation soon. The pandemic has posed problems for the Office for National Statistics (ONS) when it comes to calculating the rate of inflation. For example: How do you measure the price of an item or service when a lockdown means it is not for sale? Two good examples are [...]

By |2021-03-11T10:57:31+00:00March 11th, 2021|Uncategorised|0 Comments

PENSIONS LIFETIME ALLOWANCE DEVALUATION CONTINUES

The Budget announced a five-year freeze to the standard lifetime allowance.   The standard lifetime allowance (SLA) is an important pensions number. It effectively sets the maximum tax efficient value of all your retirement benefits, in the absence of any legislative protections (of which there are many). To the extent that the SLA is exceeded [...]

By |2021-03-11T10:54:15+00:00March 11th, 2021|Uncategorised|0 Comments

THE SPRING 2021 BUDGET

A quiet turning of the tax screw. Just before the Budget arrived on 3 March, it seemed as if the Chancellor would have nothing to say that was not already public knowledge. However, while some of the many leaks were confirmed, none of the pre-Budget pundits correctly predicted the Chancellor’s strategy. Instead of cutting borrowing, [...]

By |2021-03-11T10:50:14+00:00March 11th, 2021|Uncategorised|0 Comments

INTEREST RATES DOUBLE SINCE MARCH 2020

No, the headline is not wrong... Interest rates matter. At the personal finance end of the spectrum, they determine what you earn from bank deposits (virtually nothing at present) and what interest you pay on your mortgage (about 4.4% if you are paying the average standard variable rate (SVR), but much less for most other [...]

By |2021-02-12T11:37:15+00:00February 12th, 2021|Uncategorised|0 Comments

PREPARE FOR THE NEW TAX YEAR

Taking some time to start planning for 2021/22 now can be worthwhile.  While there is often a focus on planning for the end of the tax year, much less attention is paid to the start of the tax year. The lack of an obvious deadline is probably one reason – deadlines tend to concentrate the [...]

By |2021-02-12T11:35:25+00:00February 12th, 2021|Uncategorised|0 Comments

FOUR FINANCIAL LESSONS FROM THE COVID-19 PANDEMIC

As the pandemic enters its second year, what have we learned? The World Health Organisation declared Covid-19 a pandemic on 11 March 2020, coincidentally the day that Chancellor Rishi Sunak presented his first Budget. At the time, the Chancellor announced a £12bn stimulus to counter the impact of the pandemic. By November, the Office of [...]

By |2021-02-12T11:34:34+00:00February 12th, 2021|Uncategorised|0 Comments

UK DIVIDENDS: A BAD 2020, BUT A BETTER 2021?

New data show how far UK dividends fell last year, but projections for 2021 suggest the declines are nearly over.  In January 2021, Link Asset Services published its latest UK Dividend Monitor covering the final quarter of 2020 and the year as a whole. The headline figure was that total dividends fell by 44% over [...]

By |2021-02-12T11:33:05+00:00February 12th, 2021|Uncategorised|0 Comments
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