June 2023 - Philip J Milton & Company Plc

Rising interest rates – act now if you need a new deal

As was widely predicted, the Bank of England (BoE) raised interest rates by half a percentage point to 5% on Thursday in its ongoing attempts to reduce inflation, which now stands at 8.7% after not dropping as expected. While the CPI (consumer price index) for inflation dropped into single figures in April, it has stayed...

Inflation and cautious optimism

So Sterling has hit its highest level against the Dollar since April last year and the Euro since August. Whilst it reduces the value of investors’ overseas’ assets, strength is positive and I can say ‘expected’ though whether it is on confidence in the UK and our economic prowess (or others’ regression) is hard...

State Pension booster scheme extended – but not forever

Pensions are back in the headlines again with the news the deadline to ‘boost’ your State Pension by as much as £55,000 has been extended. The booster plan from HMRC gives people the opportunity to buy the equivalent of up to 10 extra years’ of state pension if they have gaps in their National Insurance...

Markets in the first half of 2023

Elon Musk is basking in the light as the world’s richest man again as his investments have recovered some followers and at the same time the froth has blown-off the top of the French luxury brands’ world. We feel both stocks' and sectors’ sun-bathing remains transitory. So US inflation has slipped some more and the...

Are you paying the wrong pensions tax?

One of the ‘top 10’ most common tax mistakes people make is not telling HMRC they are about to retire, according to the Age UK. The charity has warned retirees could end up paying the wrong amount of tax if they don’t tell HMRC about their State Pension. You must tell HMRC about any changes...

Don’t put pension planning on the back burner

Assurances have been made that the State Pension age is ‘unlikely’ to rise to 68 years-old but the ongoing speculation does bring into focus the need to have a clear understanding of the issues and to plan for retirement. The current age is 66 and the Work and Pensions Secretary recently said in parliament it...

Investment returns and falls

North Devon Business Awards We were delighted to be the main sponsor again for Business Action’s North Devon Business Awards. Well done to Rob Zarywacz and team for a great event and all that volunteer help in assimilating all the applicants and judging them too. Every applicant was a worthy contender but well done to those...

Rising interest rates – act now if you need a new deal

Inflation and cautious optimism

State Pension booster scheme extended – but not forever

Markets in the first half of 2023

Are you paying the wrong pensions tax?

Don’t put pension planning on the back burner

Investment returns and falls

Risk Warning

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Philip J Milton & Company Plc

Financial Ombudsman Service