Will the Cost of Living Crisis hit buoyant housing market?
Last month, house price growth hit its highest level in nearly two decades, with figures from Nationwide showing an annual increase of 14.3 percent in March, up from 12.6 percent in February. On the face of it, this appears to be great news for everyone in the housing sector, from estate agents to mortgage advisers, as demand is soaring and asking prices are going up. But the UK is…
Inheritance Tax payments have doubled in the last decade
In the past, Inheritance Tax would have been regarded by many only as something for the super-wealthy to have to think about. But the amount the government has collected in Inheritance Tax has doubled in the last decade, as more and more people are becoming liable to pay the charge. According to Treasury documents seen by the Mail on Sunday, total receipts from Inheritance Tax now stand at £5.4…
Are you leaving your Retirement Planning too late?
For many of us, old age and retirement can feel a long way off, and with the world seemingly lurching from crisis to crisis, many of us are focused on simply getting through the next few days and weeks, rather than looking too far ahead. However, that approach could simply store up problems for the future, which is why we’d urge anyone to start planning for their retirement as…
How much damage will the Ukraine War do to the global economy?
As this article is being written, Vladimir Putin is threatening ‘more invasions.’ Two British fighters captured in Ukraine have been sentenced to death: the BBC is warning of a possible cholera outbreak in Mariupol and the fighting continues in the Donbas. No doubt by the time you read the article the headlines will be different – but no less depressing. What now seems to be undeniably true – and…
Is Inflation heading past the 10% mark?
As inflation soars to a 40-year high, many analysts, households and businesses are asking just how much higher could it go? The rate of Inflation jumped from seven percent in March to nine percent in the twelve months to April, and according to the Bank of England, it’s likely to keep going up over the next few months, possibly to as much as ten per cent, but should fall…
Cost of Living Crisis to impact on Pension saving
Putting money aside for the future is one of the most fundamental principles of good financial planning. But with inflation at a 30-year high, and set to rise even further over the coming months, countless families and households are struggling to pay the bills and put food on the table. As a result, the idea of saving money for retirement is far from being their priority, as their overriding…
Financial Advice can make you more confident managing your money
Navigating the complex world of personal finance can be daunting and overwhelming. So it’s no wonder that many people don’t feel confident managing their money, and often don’t end up making the best financial decisions. That’s why it’s so surprising that so many of us aren’t getting professional and regulated financial advice. According to figures from the Financial Conduct Authority (FCA), just eight per cent of the UK population…
How many Bank of England base rate rises will we see this year?
Just recently, the UK’s inflation figures for March were released. Having been 6.2% in February, inflation had risen to 7%, the highest rate for 30 years. Across the Atlantic, the figures were even worse, as US inflation reached 8.5% – the highest since March 1981 – as the Ukraine war pushed up energy prices. In the US, it is almost certain that the Federal Reserve will increase interest rates…
Has the pandemic prompted you to take charge of your Finances?
Coronavirus restrictions forced many of us to fundamentally change how we live and work, which in turn affected how we spend our money. With socialising being out of the question, travel restrictions meaning we couldn’t go on holiday, and stay-at-home rules forcing those who could do so to work from home, many of us simply didn’t spend the money that we would have done in normal circumstances. So what,…
What does rising Inflation mean for wage growth?
The UK is facing a cost of living crisis, with inflation hitting 6.2% in February 2022, and according to the Office for Budget Responsibility, it could average up to 8% this year. But people’s wages aren’t going up at the same rate, despite the words “high wages” effortlessly tripping off the tongues of government ministers only a few months ago. For example, in an interview on The Andrew Marr…
