INFLATION figures were released today and the ONS confirmed the Consumer Price Index (CPI) has risen. This followed a brief dip in the summer and it is now expected to rise to around four percent by the end of 2021. This news will hit savers hard who will see their cash savings struggle to keep up.

Inflation jumps to record high as savings lose value - ‘like a sledgehammer to savers’

HMRC released tax gap data today, which is the difference between the amount of tax that should, in theory, be paid to the Government, and what is actually paid. The gap is estimated to be £35billion, which equates to 5.3 percent of tax liabilities and total liabilities for the 2019 to 2020 year wer…

Taxpayers to be ‘clobbered with large fines from HMRC’ as tax gap rises - what can you do?

Some wealth planners are expecting radical changes to the UK tax system in the next few years, following the pandemic.

ONS reveals £35bn in missing tax payments

The ‘tax gap’ is shrinking, according to an Office for National statistics report published today, entitled ‘Measuring tax gaps’. The ‘tax gap’ is the difference between the amount of tax that…

ONS: ‘tax gap’ estimated to be £35bn, or 5.3%

The percentage of workplace pension savers who actively stopped saving has fallen slightly during the Coronavirus pandemic, according to data released this morning. The proportion of workplace pension savers who have made the active decision to stop saving has fallen slightly from 0.75% in the finan…

Fewer people stopped saving into pensions during pandemic

The Bank of England’s Monetary Policy Committee (MPC) has unanimously voted to keep the bank rate at 0.10%. It also voted, by seven to one, to continue buying corporate bonds for its quantitative easing programme, aiming to purchase assets worth £895bn in total. In the MPC’s monetary policy report f…

BoE keeps interest rate at 0.10%; expects inflation to hit 4% | Mortgage Strategy

The Bank of England’s Monetary Policy Committee (MPC) has held interest rates at 0.1%, despite rising inflation fears. The MPC voted unanimously in favour of holding rates. In recent months inflation has reached record highs as the CPI (Consumer Prices Index) measure of inflation jumped to 2.5% in J…

Bank of England maintains rate at 0.1%

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