Investors in cryptocurrencies like bitcoin should not forget the tax consequences of their digital wallets, says HMRC. HMRC regularly boosts tax receipts by nudging taxpayers who are suspected of filling out their tax returns incorrectly or failing to submit a return when one is due. The warning, sent as a ‘nudge’ letter, often stems from […]
With a ‘black hole’ of £22 billion to fill, there are plenty of groups giving Rachel Reeves advice. The Fabian Society published a report on taxation on August Bank Holiday Monday. While their main audience is in Scotland, which has its summer bank holiday at the start of August rather than at the end, the […]
We now have a clear understanding of how much the main State Pension will increase next April. That the State Pension triple lock was not going to change was a consistent commitment in the election manifestos of all major political parties – Labour, Conservative and Liberal Democrats. In truth, once one party had nailed its […]
The pension challenges facing western governments are also confronting the world’s second most populous country. At what age should the state start to pay a pension? The question is a challenge to all governments, whether democratic or otherwise. There are two main drivers, at opposite ends of life: Life expectancy. Unless state pension ages increase […]
Financial Conduct Authority (FCA) publishes a review of the cash savings market following evidence of some dubious tactics at work. While the use of paper cash is declining as a means of payment, the need to retain a cash reserve remains as strong as ever. We all need some ‘rainy day’ money in case of […]
Action Fraud is warning people to provide an extra layer of protection and enable the 2-Step Verification (2SV) option, as more than 33,600 people had their social media or email accounts hacked in the last year. Data from Action Fraud, the national fraud and cybercrime reporting service, shows that more than 33,600 people reported that […]
The Value In Thinking Ahead Retirement is something most of us look forward to − particularly on a Monday morning. However, those thoughts are often little more than a whimsical cocktail of not having to work and prolonged holidays. The reality could be rather different.For a start, retirement has increasingly become a gradual process, with […]
One of the great challenges that all investors face is that there is no easy or quick way to investment success. Aesop’s fable of the tortoise and the hare is a useful metaphor. You have to use the time on your side – which could be over multiple decades – to capture the returns of […]
HMRC has updated its estimates for the cost of pension tax relief. Rachel Reeves will have taken note ahead of her first Budget on 30 October. It was pure coincidence, but two days after the Chancellor had revealed a £22 billion black hole in government finances for the current financial year, HMRC released its annual […]
