What do falling interest rates mean for my finances? February 14, 2025 The Bank of England trimmed interest rates to 4.5 percent in February, the first of what could be multiple cuts this year aimed at kickstarting the UK’s weak economic growth. This raises questions about what loosening monetary policy could mean for savers’ finances. The BoE now expects GDP growth “to be notably weaker in the near [...]
What on earth is a ‘SIPP’?! A jargon-free guide on how it could help boost your ‘future you’ fund February 12, 2025 Camilla Esmund is a senior manager at Interactive Investor, the UK’s second largest platform for private investors Don’t be put off by the acronym – a ‘SIPP’ stands for a self-invested personal pension; a type of personal pension which gives you greater control over your retirement planning. If you haven’t heard of them, you’re not [...]
Home repossessions rise as higher interest rates bite borrowers February 10, 2025 The number of homeowners with mortgages facing repossession rose in the fourth quarter of 2024 as buyers struggled with higher interest rates. UK Finance figures show that repossessions rose 12 per cent in the last three months of 2024 compared to the previous year and were up 54 per cent yearly. Overall, 1,030 residential houses [...]
UK private medical insurance sign-ups near-record high amid NHS backlog February 7, 2025 Nearly one in eight Britons now have medical insurance, a near-record high, as delays to NHS care drive customers to go private. The number of people with private medical insurance rose to a record high of 4.68M by the end of 2023, according to the latest figures from healthcare analysts LaingBuisson. But a total of [...]
Five simple ways to improve your personal finances in 2025 February 5, 2025 City AM has partnered with City Pay it Forward, a grassroots organisation, seeking to make a positive impact in our community, to provide five important but simple tips to improve your personal finances.
SIPP pensioners are the most confident in a comfortable retirement February 5, 2025 Workers with a self-invested personal pension (Sipp) are the most confident their savings will pay for their retirement, research shows. Around 20 per cent of the over-55s have a Sipp, according to behavioural finance firm Oxford Risk. This group is the most comfortable that their pension will keep them comfortable in retirement. But those approaching [...]
Inheritance tax changes are coming – how should you prepare? February 4, 2025 Speculation is mounting that the government may charge inheritance tax on pensions and extend the seven-year gifting rule. So how can you make sure you can pass on wealth to the next generation? Duncan Bailey explains The Budget has given businesses and individuals much to consider with announcements made around spending, national insurance contributions for [...]
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.