British overseas pensioners holding pensions offshore will be liable to pay more tax under new plans outlined by the Government. Currently, people who draw income from Qualified Registered Overseas Pension Schemes (QROPS) only pay 90% income tax on income generated by the fund. However, new proposals will make expat pensioners liable for the full income…
Senior British Government officials have admitted this week that Britain will likely need to pay for access to the EU single market post-Brexit. Brexit secretary David Davis admitted in the House of Commons on Thursday that major criterion of Brexit was “to get the best access for goods and services to the European Union”, even…
UK Chancellor Philip Hammond has revealed the true cost of Brexit to the British public in his first Autumn Statement. Hammond announced that Government finances would be £122 billion worse off by 2021 as a result of Britain’s decision to leave the European Union. As a result, the Government will no longer be attempting to…
The UK economy grew by 0.5% in the three months post-Brexit, according to the Office for National Statistics (ONS). This growth was down from the 0.7% experienced in the previous quarter, but above analysts expectations of 0.3%. The services sector was largely responsible for the growth, rising by 0.8% whilst agriculture, manufacturing & production and…
The governor of the Bank of England, Mark Carney, has announced that the fall in the value of Sterling will result in a rise of inflation on goods and services, starting with food prices in the next few years. Mr. Carney spoke at a public roundtable where he announced the rise, and warned that the…
The Office for National Statistics (ONS) has reported that the UK economy has yet to suffer the anticipated decline as a result of the UK’s decision to leave the EU. Despite warnings of an economic collapse due to the Brexit vote, Britain’s economic performance over the summer has remained stable in both the manufacturing and…
[vc_row][vc_column][vc_column_text]Bank of England’s monetary stimulus depresses investment returns which is increasing pension gaps; joblessness predicted to hit 5.5% by the end of next year. Meanwhile the FTSE 100 is booming. It’s not just workers fretting about the yawning funding gaps in UK companies’ pension plans. In the aftermath of the Brexit vote, investors are getting worried as…
The UK is predicted to avoid a recession and the world Economy will stabilise according to economists at credit agency’s Moody’s. Although markets dived on the referendum result in June, stock prices have recovered and now economists also believe the impact of the vote will be relatively modest, compared with some early fears. The lower…
More than three-and-a-half million savers using Britain’s most popular current account will see their interest rates cut in half later this year. High street giant Santander was last night accused of ‘kicking savers in the teeth’ after announcing plans to slash rates by six times the amount the Bank of England reduced interest rates earlier…
More than 90,000 Royal Mail staff have been warned that their final salary pension is “unaffordable” and could be shut down, as experts warn a raft of other private companies will follow suit. Royal Mail has written to employees telling them their “gold-plated” pension scheme may be closed because a deterioration in financial market conditions means…