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The Financial Conduct Authority (FCA) says many savers may have too much cash and face the risk of wealth erosion. As the regulator for personal financial products, the FCA is rightly concerned about financial scams and savers who are encouraged to choose inappropriate high-risk investments. Both are serious issues: The FCA says that 23,378 […]
Action Fraud is warning the public to protect their loved ones as criminals cheat older and vulnerable victims out of cash and high value items through courier fraud. Data from Action Fraud, the national reporting centre for fraud and cyber crime, reveals that £10,325,133 has been lost by victims to courier fraud since the start […]
For those readers interested in financial news (some might call it noise), the unfolding story of Chinese property developer Evergrande (a name which is ironic given its dire financial position) has spooked global equity markets. The short version of the story is that the company is very highly leveraged i.e. it has borrowed US$300 […]
New HMRC statistics show the lifetime allowance continues to be a useful revenue earner for HM Treasury, but rumoured cuts at the next Budget could be a concern for soon-to-be retirees. In the March Budget, the Chancellor announced that he would be freezing the pension lifetime allowance (LTA) at its 2020/21 level of £1.0731 million […]
A recent Upper Tribunal case has raised questions about HMRC’s approach to collecting tax on child benefit. Child benefit tax, or the High-Income Child Benefit Charge (HICBC) to use its legal name, has a chequered history. The HICBC was introduced in January 2013 as a mechanism for clawing back child benefit from high-income couples, […]
National Savings & Investments has announced details of a new green savings product. One of the small surprises in March’s Budget was the announcement that National Savings & Investments (NS&I) would be launching “a new, retail savings product to give all United Kingdom savers the chance to support green projects”. No further information was given […]