by James Hellyer | Sep 30, 2024 | general update
More than 670,000 18-22 year olds, yet to claim their Child Trust Fund, are reminded to cash in their stash as HM Revenue and Customs (HMRC) reveals the average savings pot is worth £2,212. Child Trust Funds are long term, tax-free savings accounts which were set up,...
by James Hellyer | Sep 30, 2024 | general update
There is no present mansion tax or wealth tax in the UK, but there is speculation that the Labour Party may be tempted to introduce either or both as part of Rachel Reeves’ first budget to be announced 30th October 2024. Basically, it would involve taxing individuals...
by James Hellyer | Sep 16, 2024 | Business finance
In the UK, bank deposit protections are provided through the Financial Services Compensation Scheme (FSCS). The FSCS offers a safety net for consumers in the event that a bank or financial institution fails. Key points about deposit protection in the UK include:...
by James Hellyer | Sep 16, 2024 | Changes in legislation
Parliament has agreed that the Winter Fuel Allowance payable 2024 will be limited to pensioners in receipt of Pensions Credits and certain other means-tested benefits. Pensioners who are eligible to claim Pensions Credits and have not done so need to be entitled to...
by James Hellyer | Sep 9, 2024 | Budget
As the October 2024 Budget approaches, several key tax measures are anticipated based on Labour’s manifesto and previous policy announcements. Here’s what we might expect: Capital Gains Tax (CGT): It is likely that the CGT rates may be increased,...
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