Today (8th February) the Bank of England’s Monetary Policy Committee (MPC) held its monthly interest rate setting meeting. The vote to hold the base rate at its current level of 0.5% was unanimous and was in line with analysts’ expectations. However in a surprise announcement the Governor of the Bank of England, Mark Carney, said he expects interest rates to rise earlier and more sharply than he had previously indicated.
Today (23rd November) the Chancellor of the Exchequer, Philip Hammond, announced his first Autumn Budget. If you are wondering why this is the second Budget of 2017, this is because Mr Hammond decided to do an Autumn Budget instead of a less formal Autumn Statement. In 2018 he will do a Spring Statement and an Autumn Budget and this tradition will continue into the future (until the next time it is changed).
As usual the Budget covered everything from changes in welfare to changes in personal finance (which I have focused on in this post).
Many clients who come to see us for the first time own some shares. These shares might have been inherited, received when an old building society became a bank or bought through a company share save scheme. Some people also buy and sell shares on a regular basis because they like to dabble in the stock markets.
Most of these new clients have the shares of just one or two companies in their portfolio, rather than having a broad spread of different companies and different industries.
By owning the shares of just one or two companies you are exposed to something called “non-systemic risk”. This is the technical term for when an event affects one company without affecting other companies.
In this post I will explain this concept in more detail and suggest alternative options for investors.
On 19th July the government announced the state pension age will rise from 67 to 68 sooner than expected, a move which will affect around 6 million people. In this post I explain who this change will affect and why this has happened.
As I’m sure you know, the 2017 general election has ended in a hung Parliament which means no single party has enough seats to command a majority. In this post I explain what the possible outcomes are from here and the short term effect this has had on financial markets.
We are now in the new tax year which means there are new tax allowances, savings allowances and pensions allowances available for UK taxpayers. This post sets out the key allowances and a brief description of each.
Today the Chancellor of the Exchequer, Philip Hammond, announced his first Budget. As usual the Budget covered everything from changes in welfare to changes in personal finance (which I have focused on in this post).
As we draw ever closer to the end of the tax year it is worthwhile considering how pension contributions can be highly tax efficient in a wide range of circumstances. In this post I have listed different scenarios in which a pension contribution may be beneficial.
Pension legislation is complicated so it is important to seek professional advice before you commit any money to a pension. This article is not advice because it doesn’t take your personal circumstances into consideration. If you would like to discuss this topic (or another topic) with one of our advisers please call 01642 477758 or visit our Contact page.
The current tax year ends on 5th April 2017 so, if you wish to discuss the potential benefits of making a pension contribution, please arrange an appointment as soon as possible.
In April 2017 there will be some changes to Inheritance Tax (IHT) rules which could affect your personal finances. In this post I will summarise the changes and give examples of who might be affected.
The current tax year ends on 5th April 2017 and it is never to early to start your year-end financial planning. In this post I set out 5 things you could do before 6th April (depending on your budget and financial goals).