Possible Mortgage Changes
The financial regulator the Financial Conduct Authority (FCA) is looking at ways it can make the mortgage market more accessible, with a number of proposals on the table. Those proposals could have important implications across the spectrum for homebuyers, owners remortgaging, and the wider property market. The review of mortgage rules stems from changes that were made in the wake of the 2008 financial crisis, which tightened important aspects of the market,…
Welcome to May!
As we step into a new month, the financial landscape continues to evolve, with key developments across UK taxation, global markets and central bank policy all shaping the outlook for the months ahead. Markets both in the UK and abroad are responding to shifting inflation trends and central bank movements. The Bank of England’s next interest rate decision (on the 8th May) is highly anticipated, particularly as UK inflation shows…
Make the Most of the New Tax Year
As we step into the new tax year, it’s the perfect time to review your finances and make the most of the valuable tax allowances and reliefs available. By taking advantage of these opportunities, you can ensure your hard-earned money is working as efficiently as possible for you and your loved ones. The government provides a range of tax-free allowances that can significantly reduce your tax liability if utilized…
Liberation Day
President Trump declared the 2nd of April as “Liberation Day”, which signalled a seismic shift in US trade policy. On the campaign trail, we saw President Trump’s affinity for tariffs, with him labelling the word “the most beautiful word in the dictionary” and noting that he sees tariffs as a way of achieving multiple objectives: levelling the playing field with trade partners, raising government revenue, and boosting domestic manufacturing. Last…
Spring Statement
This Spring Statement was always intended to be a fiscal non-event. Chancellor Rachel Reeves had promised that there would only be one major economic event each year and last October’s controversial budget was most definitely intended to be it. Speculation had been rising that this Spring Statement might break that promise, and bring some surprises and policy changes, amidst the economic headwinds the government currently faces. Most notably: No…
Be Ready for the End of the Tax Year
The end of the tax year is fast approaching, and with it comes an opportunity to make the most of your allowances. Are you taking full advantage of what’s available to you? Pensions: Have You Maximised Your Contributions? Pension contributions can be a tax-efficient way to save for the future. Have you checked if you have unused allowances from previous years that you can carry forward? ISAs: Using Your…
Government to Ban Leaseholds
Leaseholds could soon be a thing of the past as the Government announces plans to ban the practice. The Government has set out plans to ban new leaseholds, moving to a system of shared freehold or ‘commonhold’ on flats and banning new leasehold properties from being sold. In its white paper, it called the leasehold system “feudal” while emphasising that commonhold is a popular approach used around the world, marking…
Less than a Third of Gen X on track for Retirement
Generation X or ‘Gen X’ – the generation of adults born between 1965 and 1981, roughly 45 to 60 years of age now – is woefully unprepared for now looming retirements, according to a survey of 2,000 UK adults in December 2024. One of the most significant issues the cohort faces, according to the research from Get Britain Pension Ready, is that the group fell through the gaps in…
Is an Annuity the Right Option for You?
Annuity sales hit their highest level in a decade in 2024, with higher rates tempting retirement savers to swap their pension pots for a guaranteed income for life. Insurers sold 89,600 annuities last year, up 24% on the year before – and the highest level since 2013, according to trade body the Association of British Insurers. However, while sales are at their highest level in a decade, they remain around…
Are Cash ISAs still a Good Idea?
The Chancellor has been urged to slash the tax breaks available on cash ISAs in a bid to boost the economy and support London’s dwindling stock market. Cash ISAs are by far the most popular type of savings account in the UK, allowing savers to earn tax-free interest on contributions of up to £20,000 a year. Figures from HM Revenue & Customs show that around 18 million people currently…
