The buy-to-let market has already seen some significant changes in 2016, perhaps most significantly the increase in stamp duty on any property you own other than your primary home. What this means for those looking to invest their money in property is that the market may not offer the same kind of sound investment that property has generally always been considered.
May was the month when you could be forgiven for thinking that there was only one event in the world that mattered: the continuing debate on the UK’s membership of the EU. But while the claims and counter-claims of Messrs Cameron, Osborne, Johnson and Gove filled the airwaves and dominated the headlines, for the rest of the world it was ‘business as normal.
On Sunday 10th April the Sunday Times published their first supplement listing the Top 250 IFAs in the UK based on reviews on the independent consumer ratings website VouchedFor.
Another month, another dire warning from the economic great and good. In March it was the International Monetary Fund’s turn to warn that the world faces ‘economic derailment.’
The Chancellor will need to reduce borrowing by £32bn in 2019-20 – the biggest ever annual cash consolidation – 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.
Amongst the key announcements that came from the budget was the introduction of a new ‘Lifetime ISA'. 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.
A third of people aged over 50 who are employed in the private sector are now planning to retire later than they previously hoped, Aviva’s latest Working Lives report reveals.
George Osborne announced last year that the tax system as we currently know it will be phased out by 2020, after the Treasury described the system of tax returns as “complex, costly and time-consuming.” In its place, a new digital system will be rolled out by the government which purports to be easier to use and manage for both individuals and businesses.
The amount of money owed by those planning to retire over the course of the next 12 months has fallen for the fourth year in row, according to the latest research by Prudential. This year’s retirees who still have debts owe an average of £18,800, a fall of £3,000 or 14% from last year and a drop of nearly £20,000 since 2012 when the average amount owed was £38,200.
Responding to the HM Treasury consultation on the 3% surcharge on Stamp Duty Land Tax (SDLT) proposals for second properties, the Council of Mortgage Lenders (CML) urges reform of the implementation plans to mitigate potentially negative impacts on the housing market as a whole.
February was another month where the problem for this commentary was what to leave out: the world is not short of ‘events’ at the moment.
Reported recently across the media, David Cameron has promised an ‘all-out assault on poverty’, with a series of social reforms to include better mental health services and mentoring schemes. The PM said new mothers and teenagers with anorexia were among those who would benefit from improved services.
The Government has recently finished a consultation looking at how pension taxation could work in the future. The Chancellor, George Osborne, has said that he expects to reveal the findings and the direction he is going to take during the March Budget.
Twelve green bottles, standing on the wall ... Twelve green bottles, standing on the wall ... And if one green bottle, should accidentally fall …
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