Gold rush: Royal Mint says investors flocking to buy bullion before new tax year February 3, 2025 Gold bullion sales are soaring as investors seek to protect themselves against political and economic turmoil – and from capital gains tax too. The Royal Mint says its revenue from gold bullion sales rose nine per cent over 2024 to reach a new record high. These sales rose 153 per cent in the final quarter [...]
More than 10,000 millionaires have left Britain in a year – this is where they’re all going January 31, 2025 More than 10,000 millionaires left Britain last year, partly to avoid higher taxes – with many quitting for more glamorous destinations. In total Britain lost a net 10,800 millionaires in 2024, according to the New World Wealth (NWW) analytics firm, more than any other country except China. That is a rise of 157 per cent [...]
A school reform that could actually help the economy? Teaching financial literacy January 31, 2025 It's not just students who would benefit from school reforms to teach financial literacy, but the UK economy, writes Quentin Nason.
UK mortgage approvals rise as buyers race to beat stamp duty changes January 30, 2025 The number of mortgages approved by the UK banking sector rose unexpectedly in December, according to new data, suggesting buyers are looking to beat upcoming changes to stamp duty. The Bank of England’s figures showed that 66,500 mortgages were approved last month, which was up from 66,100 approvals in November. Economists had expected the number [...]
Savers get three-month warning over £50bn in maturing ISAs January 30, 2025 Savers are being urged to act as a huge £53.9bn in cash ISAs will mature by April, according to Paragon Bank. Paragon said that £36.4bn of that was held in one-year, fixed-term deals, which are almost certainly paying better rates than savers can get today. Derek Sprawling, savings managing director at Paragon Bank, said: “Over [...]
Show me my money! Four ways to get your finances in order before the new tax year January 30, 2025 The financial landscape is vast, and navigating it can be a headache, especially with a lot of change. However, with inflation still eating into savings, and a bigger tax burden on individuals looming for 2025, protecting your money and making sure it is working hard enough for you has gone from a nice-to-have, to a [...]
How to pick a financial adviser January 29, 2025 In a world of volatile markets and ever-changing regulation, having a financial adviser in your corner could be a shrewd move to protect your finances and ensure that you have enough money for a comfortable retirement. The use of financial advisers in the UK has slowly crept upwards in recent years. In 2022, 8.3 per [...]
Nearly a million extra savers face shock tax bills January 28, 2025 Almost 1m more savers could be hit with shock tax bills this year, Shawbrook Bank has warned – unless they keep their cash in an ISA. More than 6m savers will pay tax on interest in 2025, up 800,000 from the number of savers who had to pay tax on interest last year. This is [...]
How to shield your pension from Labour’s inheritance tax raid January 27, 2025 Financial advisers are cautioning against taking extreme measures in response to the government’s plans to slap inheritance tax on unspent pension pots from April 2027. However, there are some measures that savers can take as part of their overall estate planning strategy. Pension pots are usually exempt from inheritance tax. But in last October’s Budget, [...]
More borrowers will be paying off mortgage debt into their 70s January 21, 2025 In the first nine months of 2024, 22,103 mortgages with a term of at least 35 years were approved to people aged over 36.