Weekly Columns Archives - Page 6 of 23 - Philip J Milton & Company Plc

State Pension set to see 8% rise if ‘triple lock’ promise holds

Millions receiving the State Pension could receive a ‘bumper’ rise yet again next year due to rising wages. Due to the ‘triple lock’, experts are predicting the annual State Pension could increase by up to £879 in April, 2024. This means pensioners would receive around £11,500 a year and the maximum flat rate State Pension would...

More people are being stung by Capital Gains Tax as it hits record high

The amount paid in Capital Gains Tax (CGT) has soared to new heights, with many discovering property is now not the investment they thought it would be. Capital Gains Tax is a tax on the profit when you sell or ‘dispose of’ an asset – you are taxed on the ‘gain’, not the amount of...

House prices drop as interest rates increase

House prices have dropped by the biggest yearly decline for 14 years, according to Nationwide. The data for July was shortly before the Bank of England increased interest rates yet again, taking it from 5% to 5.25%, spelling more uncertainty for mortgage holders. The BBC has reported the latest from Nationwide, which said affordability was becoming...

How much do you need for a ‘comfortable’ retirement?

UK residents need at least an extra £26,000 in addition to their State Pension to live a ‘comfortable’ lifestyle during their retirement, according to recent data. The research was carried out by Standard Life, which used the MoneyHelper annuity tool from www.moneyhelper.org.uk to work out how much people would need in their pension pot to...

Replacing your State Pension could cost a fortune

Recent news the State Pension booster scheme has been extended until 2025 is very welcome, but did you know it could cost you a small fortune to replace the full State Pension if you’re not eligible for it? Data from sharingpensions.co.uk published in June has shown it would cost just over £205,430 of pensions savings...

Savings accounts are costing you money, says new report

A new report has revealed the shocking low level of investment in shares by the general public, with most people preferring to savings in cash – which hurts their bank balances and the nation as a whole. Did you know there is £1.8 TRILLION sat in cash savings accounts around the country? That sounds good,...

Probate delays adding extra costs for bereaved families

Families are seeing potential extra costs due to delays of up to several months before probate is granted after a death – but there are some things you can do to keep the costs down. A grant of probate is a legal requirement for anyone handling the estate of a deceased person, before any inheritance...

The early bird gets the pension payout

We have said it before, but it’s never too early to start planning your retirement – research released this week has shown those who save into a pension in later life will be significantly worse off, despite earning a higher salary. Analysis by Standard Life found those who started pension savings between the ages of...

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...

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...

State Pension set to see 8% rise if ‘triple lock’ promise holds

More people are being stung by Capital Gains Tax as it hits record high

House prices drop as interest rates increase

How much do you need for a ‘comfortable’ retirement?

Replacing your State Pension could cost a fortune

Savings accounts are costing you money, says new report

Probate delays adding extra costs for bereaved families

The early bird gets the pension payout

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

State Pension booster scheme extended – but not forever

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