Bank of England loose cannon

Posted on Jan.16, 2017 by in Latest News

In the past the Bank of England has usually confined its public utterances to periodic pronouncements from the Governor,and has disdained to engage in populist discussion. However, its chief economist, Andy Haldane, has recently broken cover, with results which do little to enhance the Bank’s reputation. Last Autumn, Mr Haldane admitted that he did not understand pensions, and he subsequently… more


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HMRC’s ‘snooper computer’

Posted on Jan.16, 2017 by in Latest News

The ‘Connect’ computer system created by HM Revenue & Customs to assist in identifying people who are paying less tax than is due is being used for the first time in the current tax year. Instead of relying purely on information provided by taxpayers through their tax returns, Connect draws from many government sources, banks and other financial institutions to… more


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School fees planning

Posted on Jan.16, 2017 by in Latest News

Parents wishing to give their children the benefit of a private education face startling costs.  The average fee for a boarding school is over £30,000 a year for a single pupil, and for day pupils over £17,000. Then there are the costs of extras such as clothing and equipment. After school, the costs of university education are considerable, and many… more


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Lifetime ISA penalties deferred

Posted on Jan.16, 2017 by in Latest News

The government has announced that the penalties resulting from the withdrawal of funds from LISAs before age 60 or for purposes other than the purchase of a first home will not apply until the tax year 2018/19. However, the Financial Conduct Authority has warned that these penalties would make LISAs unsuitable for anyone who might be likely to incur them.


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The writing on the wall

Posted on Jan.16, 2017 by in Latest News

HM Treasury has issued a new factsheet titled “Ways to save in 2017”, which describes Premium Bonds and the various forms of ISA but omits any reference to pensions. A similar factsheet issued in 2016 contained no such omission, and this has prompted suggestions that the government may be seeking to position ISAs – and in particular the new Lifetime… more


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Generation FS

Generation FS