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Pensions provide a tax -efficient way of saving, and are key to securing your lifestyle during retirement. There are different types of pensions available, so you can choose what suits your circumstances. The most common are the State Pension and the Workplace Pension. Another type of pension is the Occupational Pension Occupational pension…
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It was a positive week for investment markets. Investors clung to weaker-than-expected economic data as a sign that the US economy is starting to cool down and correspondingly, the Federal Reserve will be more inclined to hold interest rates when they next meet on the 19th/20th September. On Wednesday, the ADP National Employment report showed…
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This week it was announced that higher borrowing costs in the UK have hit demand and seen economic activity in the country fall unexpectedly for the first time since January. The release of August’s flash UK composite purchasing managers’ index on Wednesday saw forecasts for peak interest rates fall below 6%, with Sterling weakening against…
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Divorce or dissolution can be a painful process, but new rules should ease some of the tax complications couples face when splitting assets. The changes relate to capital gains tax (CGT). Under UK tax rules, assets can be transferred between married couples and civil partners without triggering a CGT charge. But difficulties can arise once…
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This week, the main focus of investors’ attention was on inflation data released on Wednesday. Having fallen more than expected in June, there was an expectation that a further downward trend would be seen in July. That proved correct, and, broadly in line with expectations, headline inflation fell to 6.8% on an annualised basis, down…
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How do you intend to convert your pension pot into income when you retire? To some extent the answer depends upon how you intend to retire, which is increasingly a more gradual process. Flexibility is normally more important for a phased retirement, as you will need to adjust your pension benefits according to the level…
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On Thursday, we saw the latest inflation data released in the United States. Having fallen to 3% in June, the Bureau of Labor Statistics announced inflation had increased slightly to 3.2% in July, broadly in line with expectations. Importantly, when stripping out some of the more volatile components like food and energy, core inflation saw…
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New data from HMRC show that in 2022/23 inheritance tax (IHT) payments hit a new high. The IHT nil rate band was set at £325,000 in April 2009 and has been frozen ever since. This year’s Budget extended that freeze to April 2028. For the first year of the nil rate band in 2009/10, IHT…
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Following the US Federal Reserve’s announcement last Wednesday, it was the turn of the Monetary Policy Committee at the Bank of England (BoE) to meet this week and set interest rates in the UK. Despite appeals from individuals and business leaders to pause one of the steepest hiking cycles in history, with inflation still nearly…
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Weekly Market Update- Week Ending 08/09/2023
This week, the pound weakened against the dollar to a 3-month low following comments from the Bank of England (BoE) governor that cast doubts over the need to raise interest rates any further in the UK. He was keen to stress that he wasn’t providing formal guidance, but the market took it as a signal…
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