The government announced two major policy changes that are likely to directly affect your finances. A much-anticipated National Insurance rise will result in an increased burden on workers and employers, including for the first time, those above State Pension Age. And the government has suspended the State Pension triple lock, meaning that pensioners will […]
Category: Financial News & Events, Financial Planning
September is World Alzheimer’s Month and 21 September is World Alzheimer’s Day, an international campaign to raise awareness and highlight issues faced by people affected by dementia. Globally, dementia is one of the biggest challenges we face, with nearly 50 million people living with the condition worldwide. In my book The Money Plan I talk […]
Category: Financial News & Events
Scammers targeted pension pots large and small, with individual losses ranging from under £1,000 to as much as £500,000. The average victim was described as a man in his 50s – but this could happen to anyone, so what can you do to avoid it happening to you?
Category: Financial News & Events, Retirement & Pensions
Amid the doom and gloom of the last eighteen months, something positive: £16.6bn of consumer credit was repaid last year, the most repaid since the Bank of England records began in 1993 and the first annual net reduction since 2011. While it has been tough on our finances, it’s also led to big changes in […]
Category: Financial News & Events
We have heard two major policy announcements from the government this week, that are likely to directly affect your finances. A much-anticipated National Insurance rise will result in an increased burden on workers and employers, including for the first time, those above State Pension Age. And, on a not so surprising note, due to the […]
Category: Financial News & Events
As an optimist, I like to look for some of the benefits we have gained over these last 18 months or so as we slowly emerge from the restrictions imposed on us. It’s essential we use this period to organise our finances, take lessons and secure our future. Part of that means supporting local businesses whenever you can.
Category: Financial News & Events
If your debts have become overwhelming and you don’t know where to turn, help is at hand. This month the government launched a new initiative called “Breathing Space”. The scheme has been designed to allow people struggling with debt to take 60 days as a breather. What does this mean in reality? Well once a […]
Category: Debt Repayment, Financial News & Events
With only days left before the tax year ends, here’s a guide to making the most of your opportunities to make some savings before it happens.
Category: Financial News & Events, Financial Planning
Chancellor Rishi Sunak set out the government’s tax and spending plans last week as the nation continues to deal with the effects of COVID-19. The Government has borrowed a record £355bn so far fighting the pandemic and has to come up with a way of paying it back. Sunak also needs to continue supporting the millions still out of work or on furlough due to the downturn. So what did he do, and how is it going to affect you?
Category: Financial News & Events
These current events we are all going through have been unprecedented and worrying for many, especially those who fear for their jobs, or their businesses. I have put together a matrix (which is updated regularly as new information comes out) to summarise the main announcements and who they may benefit. The latest version of the matrix is now available.
Category: Coronavirus, Financial News & Events
What a year it’s been. Here are my reflections on some of the events of the year, and what we can take forward into 2021 from the experiences we’ve had.
Category: Financial News & Events
A spending review is a process carried out by HM Treasury (the governments’ financial department) which sets out how much taxpayers money is allocated to each government department to spend on things like the NHS, schools, and the police. The treasury agrees with the departments how much money they will receive and what they need to deliver. The money covers their costs such as paying doctors and nurses salaries, running schools and the police force.
Category: Financial News & Events
Current rules allow employers to spend up to £150 per head (including VAT) towards the costs of an annual function such as a Christmas party without creating a tax or national insurance (NIC) liability for their employees and themselves – provided that certain conditions are met.
Category: Financial News & Events
The Government’s financial support package keeps changing, if you’ve not been able to keep up to date don’t worry here’s a summary on the Furlough scheme, self-employed help, sick pay, mortgage holidays, and tenants.
Category: Financial News & Events, Financial Planning
Yes, you did count correctly – there are twelve zeroes after the two. Another month of Government borrowing above £20bn has pushed total Government debt over the £2tn level for the first time.
Category: Financial News & Events
Where were you at the turn of the millennium? When the dot-com bubble burst? Well on Tuesday 18 August, the S&P 500 crept up by 0.23%. It was enough to bring the reading on the index to just above the previous high that it had hit nearly six months previously, on 19 February. In between those two peaks there was a fall of 33.9% to 23 March followed by a rally of 51.5%. The obvious question is why? The USA economy today is much less healthy – in all senses – than it was in February.
Category: Financial News & Events, Saving & Investing
Rishi Sunak introduced the Stamp Duty holiday on property valued up to £500,000 until March 2021. He wants to encourage us to make our moves sooner rather than later and get the housing market and its associated services going. Should you take advantage? Before you throw everything into making the most of this stamp duty holiday, make sure you’re in the right position to do so. You need to consider the bigger picture carefully with your eyes wide open.
Category: Financial News & Events, Financial Planning
I was driving home on Wednesday after a few days in Devon with my family and we were listening to Rishi Sunak’s summer statement. It struck me that this is a pivotal point in the UK’s economic history, because we’re facing an economic situation we haven’t really seen before. The recession we’re in now is […]
Category: Coronavirus, Financial News & Events
HMRC have just published new guidance on choosing to delay making the second payment on account for the 2019/20 tax year. In April, the Government announced that Self-Assessment payments due 31 July 2020 could be deferred until 31 January 2021 – interest and penalty free.
Category: Coronavirus, Financial News & Events
While the focus has been on gyrating share indices, something interesting has been happening in the UK Government bond market.
Category: Financial News & Events, Saving & Investing
Regulation reaches funeral plan market to protect families
January 9, 2022
Change up your money habits in 2022
January 6, 2022
Making your savings work smarter
November 12, 2021
So you want to become a millionaire!
November 5, 2021
Divorce & dealing with the pension splits
October 29, 2021
