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June was a month for rising interest rates on both sides of the Atlantic. June was a notable month for interest rates: Firstly, the US central bank, the Federal Reserve (the Fed) increased its main interest rate by 0.75% to 1.50%–1.75%. It was the third consecutive meeting where the Fed had raised interest rates. The […]
New research shows how the most recent increase in state pension age has hit those affected. The last change in State pension age (SPA) was phased in between December 2018 and October 2020. Over that period, the SPA for both men and women increased from 65 to 66. The move was controversial, not least because […]
The world’s share markets had a bad first half of 2022, but for once the UK performance was better than many. The first six months of the year was a disappointing one for many investors. The S&P 500, the leading US market indicator, had its worst first six months since 1970. To be fair, it […]
In the financial year 2021/22, Action Fraud received 4,244 reports of holiday and travel related fraud – a substantial increase of over 120% when compared to the previous financial year. Victims reported losing a total of £7,388,353 – an average loss of £1,868 per victim. Action Fraud has launched a national awareness campaign to urge […]
Individual Savings Accounts, universally known as ISAs, began life as relatively simple savings plans in 1999, but over the past 23 years the rules surrounding them have become ever more complex. A May 2018 report on savings tax from the Office of Tax Simplification (OTS) suggested that “there is scope for a wider full review […]
The changes to national insurance contributions (NICs) announced within the Spring Statement in March were not straightforward. Let’s set the record straight. In his Spring Statement – or was it a mini-Budget? – the Chancellor announced several changes to NICs aimed at reducing the impact of the 1.25 percentage point increase in the rates that […]