NEWS
The Labour Government has indicated its desire to fill a fiscal black hole and of course there is only one viable way to do this in the short term…increase taxation. They could rely on economic growth but that comes with some financial risk and significant uncertainty.
It’s a new tax year, and there are some changes to take on board. Jeremy Hunt’s 2024 Spring Budget contained some crowd-pleasers with an eye to the General Election later this year. But what’s going to affect you?
As the end of the UK tax year approaches, it’s time for a dive into your finances to make sure you’ve taken advantage of all the available opportunities as well as fulfilling your obligations. Here’s an easy comprehensive list of 20 things to check for personal and business taxes as April approaches.
There has been plenty of press coverage on the various aspects of the budget that affects individuals. What does seem to be missing is any coverage of the 8.5% increase to state pensions in April. Please read the article that highlights what has been announced.
Is adding money/capital to a UK pension savings plan still relevant and should you consider it for you personally or even for members of the family?
The short answer for most people is yes, you should buy enough years to end up with a full State Pension. The low level of risk as any income is backed by and guaranteed by the UK government.
The Strait of Hormuz is the world’s most critical oil chokepoint. Roughly one-fifth of global oil supply transits here each day. Commercial traffic has been severely disrupted since late February. Iran maintains a stranglehold on the Strait of Hormuz – the narrow waterway through which roughly a fifth of the world’s oil transits during peacetime. As long as that remains the status quo, analysts expect oil and stock markets to experience continued heightened volatility.
Following the weekend escalation involving US – Israeli strikes on Iran and Iran’s subsequent response, markets have – so far – reacted in a relatively orderly way. The immediate transmission mechanism is energy, because the Strait of Hormuz is a critical chokepoint for global oil and gas flows.
Artificial Intelligence has moved from novelty to necessity in what feels like months. Markets have reacted accordingly. Some technology shares have surged on the promise of AI, while others have fallen sharply on fears that AI could undermine existing business models. Like many investors, I’ve been trying to get my head around what is actually happening — and why the stakes suddenly feel so high.
Financial markets were primed for sharp, immediate tax rises. Commentators warned of fiscal tightening. Yet when the Chancellor delivered the measures, the initial reaction was muted. Markets barely moved. The plaster came off—and it didn’t hurt.