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This is one of the more important budgets of recent times. So, what was announced? Income tax rates, thresholds, and thresholds For 2021/22 Personal Allowance increasing to £12,570, basic rate band to £37,700 meaning a higher rate threshold of £50,270 – but then these figures will be frozen until April 2026. No changes to dividend
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The number of underperforming, or “dog”, funds has risen by a third this year, new data has shown. This is partly due to the gulf between the performance of different styles of investing. The pandemic has exacerbated this, but value and income investing have lagged behind growth investing for a while. How bad could having
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Do you have all your essential documents in one place? If you do not, it may be a good idea to start. To focus your thoughts, think about what you would need in the event of a disaster like severe weather or a house fire. What would you need to have ready to grab and
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We all want the best for our grandchildren. We would also like to reduce the inheritance tax (IHT) our loved ones could pay when we die. For many, giving their children or grandchildren the best opportunities means private schooling. More than half a million children currently going to private schools in the UK. According to
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The Halifax has published research into first-time buyers showing the heavy year the Bank of Mum and Dad has experienced. The average price paid by a first-time buyer in the UK last year was £256,057. This was up by £22,939 (10%) from a year earlier (£233,118). How much of this came from the Bank of Mum and
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The coronavirus (COVID-19) pandemic has caused massive job losses across the country. But some households have been saving more money than ever [1]. For these households, they have a choice which could have a big impact on their future wealth. This is the choice between saving or investing. More money to invest than usual The
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Paying yourself first Before you pay any bills, consider paying yourself first. This means saving and investing a portion of your earnings before you do anything else with your money. In the book The Richest Man in Babylon, written by George S. Clason, the parables are told by a fictional Babylonian character called Arkad, a
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Last year, Autumn arrived without an Autumn Budget. In fairness, the Chancellor, Rishi Sunak, had already presented one 2020 Budget. This took place last March, and the pandemic made forecasting for 2021/22 all but impossible. The result was that, for the second year running, the Budget was deferred to the Spring. Whether Mr Sunak’s job
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Around three in four people risk outliving their savings in retirement, a report looking into the impact of the pension freedoms indicates. The research found evidence many retirees risk potentially running their pension savings down. It termed this as “sleepwalking into retirement”. The study examined retirement planning and spending habits following the introduction of pension
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The Covid-19 pandemic has produced the most pronounced economic shock in nearly a century. In 2020, recessions around the world were sharp and deep, with significant supply-chain disruptions at times. That said, perhaps more than in previous recessions, policymakers were aggressive in supporting financial markets and their economies. While the global economy continues to recover
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