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Retire or work on?

Figures released by the Office of National Statistics (ONS) in June 2013 show that there are now more than one million over 65s continuing to work and earn after passing their anticipated point of retirement. This is the highest number since the ONS started collating this data in 1971.

Income tax higher rate threshold changes

Changes by the Government to the ‘higher rate threshold’, which is the level of income after which taxpayers begin to pay the 40 per cent higher rate of tax, mean that it will increase by 1 per cent, for 2014/15 and 2015/16 to £41,865 and £42,285 respectively.

July Market Commentary

June saw the G8 summit taking place in Northern Ireland – but amid the talk of recession, tax evasion and the cost of the security, it was the fate of two men that stole the headlines.

Tax on your savings in bank and building society account

You pay tax on your savings interest in the tax year that the interest is paid to you, or credited to your account, even if you’ve earned part of it in previous tax years. Savings income normally has 20 per cent tax taken off before you receive it. This is confirmed by the entry ‘net...

Ageing – an ongoing problem for debt-laden Europe

A recent report from Reuters suggests that long after the Euro debt crisis is over, Europe will be grappling with an even more serious problem – how to pay for growing numbers of older people. The population of some countries is stagnant or already shrinking and that could reduce potential savings and economic growth. The...

Beware of Early Pension Release

Pension release is when you agree to transfer your pension savings to an arrangement that will allow you to access your funds before you reach the age of 55. In rare cases, such as terminal illness, it’s possible to access pension funds before the age of 55. However, for most people, promises of early cash...

A Guide to the GDP

The GDP, ‘Gross Domestic Product’, is arguably the most important of all national economic statistics. The GDP seeks, every three months, to capture the state of the economy in one percentage number. If the GDP figure is up on the previous three months, the economy is growing. If it is down, the economy is contracting...

June Market Commentary

Introduction What was the old compliance wording? Markets can fall as well as rise? May was certainly the month when that was born out, with many of the major stock marching steadily upwards – only to suddenly have a day where the wheels fell off and previous gains were wiped out. The FTSE-100 and the...

May Market Commentary

Introduction “No news is good news” as the old saying goes. By that definition, April was a good month in that there were no disasters. Europe remained relatively stable, Cyprus didn’t implode, Barack Obama and Congress continued speaking to each other and Kim Jong-un kept his finger off the trigger. Mind you, the International Monetary...

Could you be lose a pension down a ‘black hole’?

A shift in the UK working culture and confusion around retirement planning is creating a pension ‘black hole’, with almost a quarter (23%) of UK adults stating they have lost track of at least one of their own pension schemes, according to a new poll for Age UK. The online poll, commissioned to find out...