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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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It was a positive week for equity markets. There were no surprises from the Federal Reserve (Fed) meeting and a raft of broadly encouraging corporate results supported investor sentiment. On Wednesday, the Fed raised its benchmark interest rate by 0.25%, bringing it to a target range of 5.25% – 5.5%, its highest level in 22…
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Your retirement planning options could need review after the Budget changes to the lifetime allowance and the annual allowance. When the current pension tax regime was introduced 17 years ago, it had two new constraints: The lifetime allowance set the effective maximum tax efficient value of your retirement benefits. It started at £1.5…
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Welcome to the latest edition of Caves Quarterly, where we take a look back over the last few months and look ahead to the future. To read, please click the link below: MHA Caves Wealth Quarterly Newsletter – Q2 2023
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The highlight this week was the UK inflation data announced on Wednesday morning by the Office for National Statistics. Having proven stickier than many had predicted in recent months, there was a collective sigh of relief to see inflation fall from an annual rate of 8.7% in May to 7.9% in June. The figure was…
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It was a positive week for equity markets, with investors cheering better-than-expected inflation numbers in the States. The data on Wednesday showed that consumer price inflation rose at 3% on an annual basis in June, down from 4% in May. The figure was lower than the 3.1% economists had predicted. Having peaked last June at…
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Trading volumes were low this week as our friends across the pond celebrated the 4th July. On Monday, we saw both Saudi Arabia and Russia announce further oil production cuts. Their hope is that by reducing supply, they will support a higher oil price, which has fallen significantly from roughly $130 a barrel (Brent) in…
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Structured products are designed to provide a return in excess of what is available from traditional bank accounts, whilst also offering a degree of protection on the underlying capital. Whilst not an exhaustive list, these products can often be used in the following scenarios. For Individuals: Where surplus cash is currently held…
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Weekly Market Update- Week Ending 11/08/2023
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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