Newsroom

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National Savings & Investments has announced interest rate cuts to most of its products. The cuts all take effect from 1 May: Product Current rate ...
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In an unexpected twist to Boris Johnson’s first reshuffle the Chancellor, Sajid Javid, resigned today. In his resignation letter, Mr Javid explained that he could not accept the PM's conditions for remaining as Chancellor, saying: "I believe...
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In April 2020, the new state pension will increase by 3.9% to £175.20 a week – £9,110 a year. The old state pension, which is payable to anyone who reached state pension age before 6 April 2016, also increases by 3.9% to £134.25 a...
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A record breaking 11.1 million taxpayers hit the 31 January tax return deadline. About 11.7 million customers were required to file their 2018/19 tax returns by 11.59pm on 31 January. The number filing online soared to more than 10.4 million for...
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The Treasury has announced the new tax NIC scales for 2020/21. The announcement referred to an increase in the level at which employees and the self-employed start to pay NICs. As trailed in the Conservatives’ election manifesto, this...
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On Thursday 30 January the Bank of England Monetary Policy Committee (MPC) voted to keep interest rates on hold at 0.75%. The MPC decided the improvement in business sentiment since the general election made an immediate cut unnecessary. The Bank...
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The M&G Property Portfolio has extended its gating for a second time this month to allow the vehicle's managers to continue to offload assets to build sufficient liquidity and protect investors' interests. It was first suspended on 4...
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The latest statistics from HMRC show the inflows to venture capital trusts (VCTs) have more than doubled since 2009/10. At the end of 2019, HMRC published details of how much money was raised by VCTs in 2018/19. At £716m, the figure was the...
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The pension annual allowance effectively sets the maximum pension contributions from all sources (including your employer) on which you may be able to claim income tax relief. In recent times it has been the subject of much controversy because of the way...
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The intestacy rules automatically apply to the distribution of estates where there is no will. There are three different sets of rules, one for England and Wales, a similar set for Northern Ireland and a much more different set for Scotland. The...
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In April 2020, the National Living wage (NLW) will increase by 6.2% to £8.72 an hour – that is £15,870 a year, based on a 35-hour week.   In his 2015 Summer Budget George Osborne set a goal for it to match 60% of median earnings by...
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Every two years, the Office for National Statistics (ONS) recalculates its national population projections (NPP). As part of the exercise, the ONS reviews and updates its assumptions about future mortality, which in turn will have an impact on population...
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On 7 January the Chancellor announced the next Budget would take place on Wednesday 11 March This could be a significant Budget. Traditionally the first Budget of a new Parliament is when the Chancellor delivers the medicine of tax increases...
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M&G is temporarily suspending dealing in the shares of its £2.54bn M&G Property Portfolio with immediate effect. This is the latest open-ended product to suspend withdrawals and the first in the property sector since a number of funds were...
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The Financial Conduct Authority (FCA) announced plans today to ban the way in which some car retailers, and other brokers in the motor finance sector, receive commission. Currently, some motor finance brokers receive commission which is linked to...
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New proposals for reforming capital gains and income tax were recently published by the IPPR in ‘Just tax: Reforming the taxation of income from wealth and work’. The IPPR calls itself ‘the UK’s pre-eminent progressive think...
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Figures published today by HMRC show a huge surge in the number of people paying voluntary National Insurance Contributions to top up their state pension record in the last two years.  The latest report shows that in 2018/19 £119.3m was...
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The Chancellor of the Exchequer, Sajid Javid, has announced he is planning to hold a Budget on Wednesday 6 November 2019. The Chancellor of the Exchequer, Sajid Javid, said: “This will be the first Budget after leaving the EU. I...
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The British Retail Consortium’s latest Payment Survey published today reported that credit card spending overtook cash spending in 2018. Debit cards remain the most popular method of payment, accounting for nearly three in five transactions. Over the...
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A report from a Conservative think tank suggesting a quicker rise to a state pension age of 75 has ruffled feathers, but is increased longevity making such moves inevitable? The Centre for Social Justice (CSJ) report Ageing Confidently – Supporting an...
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Almost one million savers could be subject to punitive tax charges on their pension, MoneyWeek has warned. According to the publication, almost a million savers have unknowingly triggered a substantial reduction in their annual contributions, and may now...
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Two out of every five pensioners are receiving less than £150 per week in state pension after changes to the system, new figures reveal. Under the new state benefit, the maximum pensioners are able to claim is £168.80 per week. Yet a Freedom of...
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The annual cost of being retired comes to £11,830 per year, according to a new analysis - although its cheaper in some regions of the UK than others. Research from Key, which looked at the government’s latest spending data, revealed that retirees...
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The 129 members of the OECD/G20 Inclusive Framework on Base Erosion and Profit shifting have officially adopted a Programme of Work outlining the process for reaching a new global agreement on taxing multinational companies. According to the document calls,...
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Retired households pay 31% of their income in taxes - both direct and indirect - every year, according to a new analysis. Research from Key shows the average gross annual income for retired households is £25,051, while their post-tax income is...