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State pension increases could be outpacing inflation next April, and there’s no guarantee of the Triple Lock surviving the next election. In mid-September, the Office for National Statistics (ONS) published the latest earnings data, covering the period May to July 2023. Earnings data has been the focus of much attention recently because a fall in […]
National Savings & Investments has launched two top of the savings league table one-year bonds, but the headline rates may not be your net return. The primary role of National Savings & Investments (NS&I) is “cost-effective financing for the government.” In the current financial year, NS&I has been charged with raising between £4.5 billion and […]
The Chancellor has announced that he will issue an Autumn Statement on 22 November. Perhaps it was just coincidence, but a year to the day after Liz Truss was elected Prime Minister, the current Chancellor (and her second) announced that there would be an Autumn Statement on 22 November 2023. In autumn 2022, Ms Truss’s […]
Recent data from HM Revenue & Customs (HMRC) has shown that Inheritance Tax (IHT) receipts for the 2022–23 tax year totalled £7.1bn, up £1bn from the previous tax year. With receipts consistently rising, this significant uplift can be attributed in part to ‘a combination of the recent rises in asset values and the government’s decision […]
Recent data has revealed that inheritance tax (IHT) receipts reached a record level in the 2022/23 tax year. Every month the government publishes data that sets out HMRC’s cash tax receipts in detail. The data issued in late April provided the first set of figures for the sums raised in the […]
The government has announced a new initiative to counter fraudulent activity, particularly in the financial sector. You might not be surprised to learn that fraud is now the most common crime in England and Wales, although you may not be aware that it accounts for more than 40% of all crime. The growth in […]