Royal London snaps up Aegon’s protection business, adding 400,000 customers to its books April 4, 2023 Royal London, one of the UK’s largest life, pensions, and investment mutuals, has snapped up Aegon UK’s individual protection business. The acquisition, which is subject to court approval, will see the transfer of 400,000 customers’ life insurance, critical illness and income protection to Royal London. Barry O’Dwyer, group chief executive of Royal London said: “We [...]
‘Never a better time to expand’: Kids’ finance firm GoHenry snapped up by saving app Acorns April 3, 2023 British kids finance firm GoHenry has been snapped up by US investing app Acorns in a deal which will see its financial education tools rolled out to millions of new customers in the US.
Succession – planning that is – and why you don’t need to be as rich as Logan Roy to secure your family’s financial future March 31, 2023 Rivalry and revenge are rife within the Roy family – the dysfunctional clan that returned to screens this week in the Sky series‘Succession’. Camilla Stowell, head of private and commercial clients at Coutts said: “The drama uncovers how emotional conversations about intergenerational wealth and succession planning can be. “However, in reality the process can be [...]
Broadband, mobile bills and council tax rises threaten ‘awful April’ for householders already facing cost of living crisis March 31, 2023 Households battling the cost of living crisis are facing an onslaught of price hikes that could leave the average family hundreds of pounds a year worse off. From April 1, millions of people will face increases to their broadband, mobile, water and council tax bills. Most local authorities are putting up council tax by 5 [...]
No new taxes: Labour’s Reeves pledges not to increase CGT limit March 30, 2023 Labour does not plan to increase capital gains tax, shadow chancellor Rachel Reeves has indicated, despite deputy leader Angela Rayner appearing to suggest rates were too low. Prime Minister Rishi Sunak last week released a summary of his tax affairs, which showed that his tax rate was about 22 per cent because most of his [...]
Pensions, Isas, child benefit limits and inheritance tax: Your ten point end of tax year checklist March 29, 2023 In five year’s time the annual income of another 2.1 million taxpayers will fall into the higher rate tax threshold, a rise of 47 per cent, according to the Office for Budget Responsibility (OBR). The threshold has been frozen since April 2021 – and is expected to stay frozen until April 2028 while the threshold [...]
Cash is NOT king: Almost half of Brits say they have been discouraged from using physical money March 29, 2023 Nearly half of people have recently been somewhere that has not accepted or has discouraged the use of cash, according to a survey. Some 45 per cent of people surveyed by YouGov between March 8 and 9 said they had been somewhere in the previous eight weeks where cash was discouraged or not accepted. One [...]
Tax year end: Six ways to invest a £100,000 bonus March 28, 2023 Next week marks the end of the 2022/23 tax year, with midnight on 5 April the deadline for using available tax-free savings and investment allowances. Last December saw city workers awarded bumper bonuses and seven in ten City workers still expect their bonus to be as large as – if not ‘larger’ or ‘significantly larger’ [...]
Junior Isas and the £100k children’s savings club: As savings deadline approaches parents reminded to use their tax free allowance March 28, 2023 Around 40 children had Junior Isa pots worth £200,000 or more at the end of the 2020/21 tax year, according to HM Revenue and Customs (HMRC) figures. And around 500 had savings pots worth £100,000 or above, the figures indicate. The rounded figures were released after a freedom of information request made on behalf of [...]
L&G report: Inflation is widening gap between rich and poor with ‘pay cut’ for 95 per cent of UK households March 27, 2023 Legal & General’s Rebuilding Britain Index (RBI) found that 95 per cent of working UK households have experienced a real terms pay cut over the last 12-months as rising inflation makes its way felt into nearly all households. UK inflation has surpassed forecasts and stayed in the double digits and the rate of price increases [...]