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Category: Budget & Economy & Tax & Uncategorized
The Chancellor will need to reduce borrowing by ÂŁ32bn in 2019-20 â the biggest ever annual cash consolidation â in order to meet his Budget surplus target by the end of parliament, according to a new post-Budget briefing report published by the Resolution Foundation.
Category: Bonds & Investments & savings & Uncategorized
As far as the savings market was concerned, 2015 was the year of the challenger provider. Competition between them ramped up and average rates followed suit, and in turn, positivity started to make a welcome return to the market. However, this improvement was short-lived, as the latest Moneyfacts research, reporting in March 2016, shows a stark reversal of fortune.
Category: pensions & Tax & Uncategorized
Before the March 2016 Budget there had been much speculation that the Chancellor was planning big changes to the tax relief on pensions. However, just before the Budget, the Treasury scotched rumours of such changes and subsequently there were no changes to pension savings tax relief in the forecast Budget.
Category: Accounting & Business & Uncategorized
Chancellors presenting their Budgets often attempt to redistribute wealth from one group in society to another, stated a recent post-Budget AccountancyAge article, suggesting that this was the implicit rationale behind many of the corporate tax measures announced in the March 2016 Budget.
Category: Budget & ISA & Lifetime ISA & Uncategorized
Amongst the key announcements that came from the budget was the introduction of a new âLifetime ISA.â By far the most attractive feature of this new form of savings account is that contributions every year will receive a healthy 25% bonus from the government.
Category: Economy & Housing & property & Uncategorized
Sales of luxury property in London have seen a considerable slump following Chancellor George Osborneâs sharp increase to stamp duty. Property industry observers have given warnings that the situation is becoming more and more harmful to the property market. Douglas & Gordon, an estate agency with particular expertise when it comes to property in the capital, have seen a drop of almost two thirds in sales of top-end homes in the âprime centralâ areas of London.
