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Wealth Knowledge – April 2022
- 6th April 2022
- Posted by: shayne
- Category: Wealth Knowledge
No CommentsOver one million individuals use extra time to file tax returns More than one million individuals completed their self-assessment tax return by the extended deadline at the end of February 2022. HMRC estimates 11.3m of 12.2m of the taxpayers who had to file a self-assessment tax return for the 2020/21 tax year did so by
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Business Exit Strategies
- 4th April 2022
- Posted by: shayne
- Category: Business
Options for sale or succession. The past couple of years gave many business owners more challenges than they’d ever faced before. From political turbulence and Brexit to the far-reaching and long-lasting impacts of the COVID-19 pandemic, it would be an understatement to say things have been tough. If you were already thinking about retiring in
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How does the National Insurance increase affect you?
- 31st March 2022
- Posted by: shayne
- Category: Tax
Brace yourself for this tax rise. In a much-touted tax rise to fund additional NHS, health and social care spending, this April sees 1.25% added to National Insurance. At face value, that seems pretty simple (if unwelcome, given all the other inflationary pressures) for those who pay National Insurance. But scratch a little below the
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Spring Statement 2022
- 24th March 2022
- Posted by: shayne
- Category: Spring Statement
Spring-loaded: crisis solutions or half-measures? Introduction Amid rising pressure to bring in significant relief measures to combat the current international emergency, Chancellor Rishi Sunak implied ahead of time that he could only do so much. Speaking at the weekend, he acknowledged concerns about price hikes and inflation, vowing to stand by people in the same
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Wealth Knowledge – March 2022
- 4th March 2022
- Posted by: shayne
- Category: Wealth Knowledge
Pandemic-related factors see divorce rates slump in 2020 The number of divorces in England and Wales fell by 4.5% in 2020, according to the Office for National Statistics (ONS). In 2020, there were 103,592 divorces granted in England and Wales, compared to 107,599 divorces approved in 2019. During the height of the pandemic, lockdown restrictions
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Why you need to look at your pension in 2022
- 4th March 2022
- Posted by: shayne
- Category: Pension
Should you factor inflation into your pension plans? Pensions stories have been rife in recent months, led by the Government’s decision to downgrade the fabled triple-lock on the state pension for 2022/23. The triple-lock refers to the state pension rising by inflation as measured by the Consumer Prices Index (CPI) from the previous September, average
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Beat inflation through savvy investments
- 3rd March 2022
- Posted by: shayne
- Category: Inflation
Inflation may hit 7% this spring; investing can help. Soaring inflation is about to affect everything we do this year and preparing now may be the best way to head off that threat. Last month, Ofgem raised its energy prices cap by 54% – bad news for homes that are not on fixed deals with
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Tax Card 2022/23
- 25th February 2022
- Posted by: shayne
- Category: Tax
INCOME TAX ALLOWANCES 2022/23 2021/22 Personal allowance* £12,570 £12,570 Personal savings allowance Basic-rate taxpayer Higher-rate taxpayer Additional-rate taxpayer £1,000 £500 £0 £1,000 £500 £0 Dividend allowance at 0% £2,000 £2,000 Marriage/civil partner transferable allowance** £1,260 £1,260 Trading and property allowance*** £1,000 £1,000 Rent-a-room allowance £7,500 £7,500 Blind person’s allowance £2,600 £2,520 * The personal allowance
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Wealth Knowledge – February 2022
- 4th February 2022
- Posted by: shayne
- Category: Wealth Knowledge
Omicron fears save consumers £4bn last Christmas Consumers reportedly saved a total of £4 billion at the end of last year, amid concerns over the spread of the Omicron variant of COVID-19. The identification of the new variant and the subsequent surge in positive cases caused many to put festive plans on hold late last
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The effects of rising inflation in 2022
- 3rd February 2022
- Posted by: shayne
- Category: Inflation
Understanding your options to beat soaring prices. If there’s one thing we know isn’t going away this year it’s the problem of rising inflation. It’s not just the UK who has to cope with rising inflation; it’s a growing issue across much of the developed world. Put simply, COVID-19 is to blame as the economic