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UK Pension Tax on Death Benefits Proposed Change
On 18th July the UK government announced a consultation on pension taxation linked to the abolition of the Lifetime Allowance. It also considers other aspects of tax linked to pensions and proposes a significant change. Currently where pension member dies before age 75, benefits received by a beneficiary are generally outside the scope of income…
Death Comes to us all
Death comes to us all, but are we prepared financially. Whilst leaving debts paid, family secure etc. are important, there is also the aspect of ensuring affairs are in order, and a will has been written. A recent trial in UK where a will writer was charged with stealing over £300,000 from aged clients. Firstly…
Time To Look Abroad? UK Workforce To Suffer “Dreadful” Wage Prospects
The Institute for Fiscal Studies (IFS) has outlined the wage prospects of UK workers as “dreadful” after Chancellor Philip Hammond’s first Autumn Statement. The IFS states that workers will be worse off financially in 2021 in real terms than they were in 2008, with lower income families to be the worse affected. Paul Johnson, Director…
The K-Shaped Economy: Are You on the Winning Side?
The ‘K-Shaped’ Recovery Over recent years, we’ve seen what is often described as a ‘K-shaped’ recovery. Households with assets such as shares, property and pensions have generally benefited from rising asset prices, while those without assets have faced a very different experience. Higher inflation has driven up the cost of living, eroding purchasing power…
A trade war no one could afford to win
A trade war no one could afford to win A client asked at the start of last week: “Will the US and China reach a trade agreement?” Our short but confident answer was: Yes. Longer answer: Because the maths, the money and the politics all say they must. And sure enough, the US and China…
What is a bear market and why it matters?
Recently the term “bear market” appear more and more in conversation. But what does it mean? Bears and bulls are common animal metaphors used in the stock market. Think about how these animals attack their prey: a bull would raise its horns upward, while a bear reaches with its head downward. Generally these terms indicate…