The Prime Minister has warned that the upcoming Autumn Statement (due on 30 October) will be “painful”. Before this, the Chancellor – Rachel Reeves – confirmed that tax rises will be necessary in the budget. Naturally, investor and business confidence is down to their lowest levels since December 2022…
What is happening in the UK economy? Are things “getting better” in the summer of 2024, or worse? How might the landscape change, and what are the implications for your financial plan? Below, our financial planners explore some of these questions in more detail. We hope these insights are helpful…
The Spring Budget of 2024 brought a range of key changes which bear upon UK households (not least the “headline” measure to cut National Insurance). Below, our Padiham financial advisers elaborate on our recent Budget Special newsletter to explain, in more detail, how readers’ financial plans may be impacted…
A stealth tax is a clever way for the government to raise money from taxpayers without overtly calling it a “tax rise”. A direct tax rise – e.g. increasing the Basic Rate from 20% to, say, 25% – risks drawing a lot of negative headlines and potential punishment at the polls during the next election…
When, exactly, should you start that next exciting stage of life – retirement? This is a very personal, often complex decision influenced by many factors. Indeed, there is no single form of retirement. It can look different from person to person. Below, our financial planners in Padiham offer some ideas…
A lot of attention is given to people who want to build a financial plan for their estate. Yet what about those who potentially stand to inherit it (the “beneficiaries”)? Receiving a large sum of money and/or valuable assets could be transformative to your finances if used prudently. However, without planning…
On 22 June 2023, the Bank of England (BoE) raised their interest rate (the base rate) again – this time, by 0.5% to now stand at 5%. Given that this is the thirteenth rise since December 2021, many people are asking how much higher the base rate could go. The base rate has a big impact on the cost of borrowing…
In June 2020, at the height of the COVID-19 pandemic, Ipsos Mori published a report into the state of financial wellbeing in the UK. Its findings were significant. It found that “financial wellbeing” – a deep sense of personal financial security and freedom of choice – is essential to mental health and success…
The UK economy has certainly been through a lot since 2020. COVID-19 led to widespread lockdowns, a short market crash and a shift to remote working. GDP grew by 7.5% in 2021, rebounding from a 9.4% plunge the previous year, but a reckoning was soon coming. Inflation rose in 2022…
Have you checked your National Insurance (NI) record lately? This summer, a key “window” will be closing for a little-known rule about State Pensions. After 31 July the chance will be gone to fill more “gaps” in certain individuals’ NI records. Missing the opportunity may lead some people to lose out on hundreds…
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