News

And on a lighter note!

And on a lighter note!

  Let’s start off with Irish cricketer Kevin O’Brien. Playing for Leinster Lightning against North West Warriors, Kevin blasted a quick-fire 82, including eight sixes. Sadly, one of the sixes sailed over the boundary ropes and straight through the rear window of his own car. Meanwhile, people are going nuts for Ohio woodworker Michael Dutko’s [...]

Image rights… How HMRC recouped £73m from football

Image rights… How HMRC recouped £73m from football

A freedom of information request from accountancy firm UHY Hacker Young found that HMRC investigated 246 professional footballers during the 2019/20 tax year, up from 87 the previous year. The main focus of HMRC’s activity was on image rights, extra revenue which is used to supplement players’ contractual wages. Image rights have been a tax [...]

What are the proposed changes to IHT for siblings?

What are the proposed changes to IHT for siblings?

At the moment, only those who are married or who are registered civil partners are exempt from paying inheritance tax (IHT) on money or property left to them by their spouse. This was expanded to include heterosexual civil partnerships at the end of 2019. But the law does not cover siblings who are cohabiting.They are [...]

House prices have rebounded, but is it a “false dawn”?

House prices have rebounded, but is it a “false dawn”?

At first glance, recent figures from the housing markets appear wholly positive. During July, Nationwide reported a 1.7% leap in prices. However, the country’s largest building society warned of a “false dawn” when they announced these figures. They highlighted that much of the rise can be attributed to pent up demand and people deciding they [...]

September Market Commentary

  Introduction August used to be known as the ‘silly season’ – a phrase coined by the Times in 1861 to describe the lack of news in August and early September when parliament was in recess. Well, there was plenty of news in August 2020. With coronavirus and its effects, the continuing squabbles over Brexit, [...]

August Market Commentary

If there was one word that characterised July, it was tension. Tension between Beijing and Hong Kong, tension between China and the US, and tension between China and the UK over Huawei. The UK made a citizenship offer to up to 3m Hong Kong residents and duly suspended its extradition treaty with Hong Kong. The [...]

Could over-40s pay more tax to solve the social care crisis?

Could over-40s pay more tax to solve the social care crisis?

The question of who should pay for social care is a pressing one; successive governments have grappled with the issue and none have found a concrete solution. At the moment, some people who don’t qualify for local council funded care have to sell their homes to cover the costs, which can exceed £1,500 a week. [...]

The world is in recession. Why is the stock market reaching ever higher?

The world is in recession. Why is the stock market reaching ever higher?

Current World Bank forecasts indicate that the Covid19 recession will be the deepest since WWII and the Treasury’s forecaster has suggested that it could take until the end of 2022 for the British economy to return to its pre-coronavirus peak. However, global stock markets seem to tell a more positive story. Markets are rallying across [...]

Will triple lock state pensions survive the current economic crisis?

Will triple lock state pensions survive the current economic crisis?

The Covid-19 pandemic has dealt a crippling blow to the British economy. The latest predictions from the Office for Budget Responsibility say that the country is on track to see the largest economic decline for 300 years, with output falling by at least 10% over 2020. While the long term economic outlook is uncertain, the [...]

What does the stamp duty holiday mean for me?

What does the stamp duty holiday mean for me?

In his 8 July summer statement, Chancellor Rishi Sunak confirmed that the stamp duty threshold will be immediately raised to £500,000 in England and Northern Ireland, in what some have dubbed the ‘stamp duty holiday’. The rise in threshold lasts until 31 March 2021 and will apply to both first-time buyers and previous owners. Sunak [...]