Commercial Property Market Review – November 2021
Business rates boost for hospitality and leisure The Autumn Budget provided good news for badly hit shops, restaurants, bars and gyms, with a temporary 50% cut in business rates in England announced by the Chancellor. These sectors, which suffered particularly badly during the pandemic, will be able to claim a 50% discount on their bills […]
Regulator notes vital insurance need
Earlier this year, the Financial Conduct Authority published the results of its latest Financial Lives Survey. These showed, among other things, that COVID-19 had presented a severe test for the population’s finances, and that about a quarter of UK adults displayed signs of low financial resilience. Such signs include over-indebtedness, low levels of savings and […]
‘Flip the context’ to protect your savings
The Financial Conduct Authority (FCA) has revealed that over £2m was lost to pension scammers in the first five months of 2021. The average amount lost so far in 2021 is £50,949, compared to £23,689 in 2020. The FCA research shows that pension holders were nine times more likely to accept ‘advice’ from someone online […]
Inflation debunks ‘cash is king’ mantra
A modest level of price inflation is generally seen as acceptable and even as a sign of a healthy economy. For some years, the Bank of England’s target for annual Consumer Prices Index (CPI) growth has been 2%; not a steady 2%, as short-term fluctuations are inevitable, but an average of about 2% over several […]
Economic Review – October 2021
OBR forecasts stronger growth The Office for Budget Responsibility (OBR) has upgraded its UK economic growth forecast and is now predicting the economy will return to its pre-pandemic level six months earlier than previously expected. Chancellor Rishi Sunak unveiled the independent forecaster’s revised projections during his Budget statement delivered to the House of Commons on […]
UK investors plan to continue lockdown habits
During the pandemic, many people have been able to significantly increase their investment contributions, as spending on travel, leisure and hospitality plummeted. Now, a poll1 has revealed that, far from reducing their investment contributions as restrictions loosen, 76% of UK investors intend to keep up their lockdown habits, with half planning on reducing everyday spending […]
Autumn Budget & Spending Review 2021
“An economy fit for a new age of optimism” Chancellor of the Exchequer, Rishi Sunak, delivered his third Budget and the results of his Spending Review on 27 October, declaring that it begins “the work of preparing for a new economy post-COVID.” The Chancellor struck an upbeat tone during the key fiscal event, as he […]
Commercial Property Market Review – October 2021
Strong recovery for UK flex market According to Workthere research, the flexible office sector regained momentum in H1 2021 following its pandemic-induced slump, with renewed appetite for flex space in both enquires (+30% on pre-pandemic levels) and transactions (+36%). Flexible workplaces – a catchall term encompassing anything from serviced offices to fitted plug and play […]
Money – In the news
A third are indebted as they enter retirement Retirement. That much-awaited time when, after paying off your mortgage and accumulating a pension pot, you stop work and sail off into the sunset to enjoy your twilight years. Unfortunately, not every retiree’s story matches this ideal. Indeed, far from having everything paid off, it has been […]
National Insurance and dividend tax rises
A new health and social care tax will be introduced across the UK from April 2022. The tax will initially begin as a 1.25 percentage point increase in National Insurance, paid by both workers and employers. From April 2023, it will become a separate tax on earned income, calculated in the same way as National […]