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Personal Finance
Beware: there is a sneaky tax rule that eats into your child’s savings
Thursday 23 Feb 2023Parents who diligently put money away in savings accounts for their children wouldn’t expect to be hit with a tax bill, but a little-known rule means that taxman could take some of the interest from your child’s savings. This tax rule means that once your child earns £100 or more in interest on...
What is Britcoin, will it replace cash and is it a good idea?
Thursday 16 Feb 2023The Government has announced it is moving forward with the development of a digital pound, which has been widely dubbed ‘Britcoin’. A final decision on whether to launch the digital currency has not been taken yet, and if it does come to pass, it will happen towards the end of this decade. In the...
Eight big tips to beat the taxman this April
Thursday 09 Feb 2023Tax year end is less than two months away, which means it’s time to get your financial affairs in order and make sure you’re making the most of all your allowances and not unnecessarily handing over money to the taxman. Here’s our checklist of eight things to do before 5 April to make sure your...
How to beat the rising tide of capital gains tax
Thursday 02 Feb 2023Capital gains tax is about to become a big headache for many more investors. Under current rules, individuals have a relatively generous £12,300 of investment gains which they can realise each tax year without being subject to tax. However, the Chancellor has announced that from April 2023, this...
Premium Bonds prize fund has risen – but are they worth it?
Thursday 26 Jan 2023NS&I has increased the prize fund on Premium Bonds once again, as it tries to keep up with the rates war in the savings market. The Government-backed provider has added £80 million in prizes each month, meaning this month it expects to pay out almost £300 million in prizes. From February it...
Look out for these big personal finance changes coming in 2023
Thursday 12 Jan 2023The new year is here – and it brings with it a raft of changes that will impact your pocket or pay packet. Here are the big changes to look out for in 2023. JANUARY: Old stamps expire Anyone with non-barcoded stamps will find they are officially not usable from 31 January. However, the Royal Mail...
How to give your child or grandchild a financial gift at Christmas
Thursday 15 Dec 2022This Christmas lots of parents and grandparents might decide to forgo the usual presents for the young people in their life and instead decide to give them money. But the days of tucking a £5 note into a Christmas card are largely gone now money is digital and people want to give financial gifts...
When is financial advice worth paying for?
Thursday 08 Dec 2022The financial watchdog has just launched a consultation on introducing a new core investment advice service to the market. The basic idea is that reducing regulation around this form of simplified advice will result in lower fees, and so more consumers choosing to invest rather than being stuck in...
How to beat the big UK wealth tax crackdown
Thursday 01 Dec 2022Chancellor Jeremy Hunt launched a crackdown on wealth taxes in his Autumn Statement on 17 November. It means that from next year many people with investments outside an ISA or pension will face higher taxes, and from 2024 that tax hit will increase again. Here’s how to beat them. WHAT’S CHANGING...
Recession investing: how to steer a portfolio through a downturn
Thursday 24 Nov 2022The UK may already have entered a recession, with the economy slipping backwards by 0.2% in the third quarter of the year, according to the Office for National Statistics. The Bank of England is now forecasting a prolonged period of weak or negative economic growth stretching through 2023 and 2024...