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MT Financial News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Changes to pension taxes may make ISAs more attractive - November 8, 2016
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A new report from the Office for Budget Responsibility (OBR) has found that changes to the tax regime may make pensions less attractive than ISAs to many wealthy workers. Since 2010, the UK pension tax regime has experienced a number of changes. The OBR paper examined these changes to taxation for private pensions and savings, which … Continue reading Changes to pension taxes may make ISAs more attractive


Renting to overtake home sales in 2017 - November 8, 2016
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A new study has found that for the first time since the 1930s, property lettings may overtake property sales – a trend which could affect the buy-to-let market. In recent months the buy-to-let sector in the UK has been hit time-and-time again by changes to tax and regulations. These changes have in many cases reduced … Continue reading Renting to overtake home sales in 2017


Avoid relying on property to fund retirement, says FCA Chief Executive - October 25, 2016
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The Chief Executive of the Financial Conduct Authority has cautioned workers against relying on property investments to fund their retirements. Andrew Bailey said the risks of concentrating investments in property were too great and advocated a more diverse portfolio of investments. He said it was important for public officials to present more clearly the relative … Continue reading Avoid relying on property to fund retirement, says FCA Chief Executive


Government clarifies Help to Buy ISA scheme - September 14, 2016
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Thousands of first-time buyers have raised concerns about their Help to Buy ISA after it was clarified that the government’s bonus could not be used as part of a deposit. When the scheme was launched by the former chancellor George Osborne he said it would provide state support to help buyers get on the property … Continue reading Government clarifies Help to Buy ISA scheme


Personal Savings Allowance – What you need to know - September 14, 2016
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From April 2016 more than 95 per cent of the UK’s population no longer pay tax on their interest from savings as the result of the introduction of the Personal Savings Allowance (PSA). Prior to the introduction of the PSA, for every £100 of interest earned, basic-rate taxpayers paid £20 in tax, while those on … Continue reading Personal Savings Allowance – What you need to know


Pension freedoms see retirees cautiously dip into pots - September 14, 2016
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New research following last year’s launch of pension freedoms has shown that many British workers reaching retirement are far more cautious than previously predicted. When the scheme was launched in April 2015, the then Pensions Minister Steve Webb joked that pensioners could use their pot to buy whatever they liked, including a Lamborghini – leading … Continue reading Pension freedoms see retirees cautiously dip into pots


Bank warns of possible negative interest rates - August 19, 2016
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With the Bank of England Base Rate falling to a quarter of a per cent, NatWest has written to approximately 850,000 of its business customers warning that interest rates may imminently go negative. The effect would be that businesses would be charged to hold funds with the bank. However, one of the possible reasons for … Continue reading Bank warns of possible negative interest rates


Home ownership amongst under-45s collapses - August 19, 2016
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The proportion of under-45s who own their own home has suffered a sharp downfall in the wake of the global financial crisis in 2008, whilst ownership rates amongst older people have remained the same or increased. The rate of home ownership amongst under-45s was 64 per cent in 2003-4, whilst the overall rate of home … Continue reading Home ownership amongst under-45s collapses


Total pension savings up on back of Auto-Enrolment but many firms are missing their staging dates - August 19, 2016
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Figures published recently by the Prudential have shown a significant increase in the total amount put away by UK workers towards their pension pots, despite many firms missing their auto-enrolment staging dates. UK workers’ pension contributions last year amounted to more than £9.3 billion – a 17 per cent increase on the 2010/11 tax year … Continue reading Total pension savings up on back of Auto-Enrolment but many firms are missing their staging dates


Brits ineligible for state pension to receive letter from government - July 14, 2016
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More than 100,000 people are set to receive a letter from the government informing them that they are unlikely to receive the new flat-rate state pension. Earlier in the year, the Work and Pensions select committee had called on the government to act urgently to let the large number of people who will not receive … Continue reading Brits ineligible for state pension to receive letter from government


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