£1.8bn withdrawn from pension pots since new freedoms came into force in April July 15, 2015 In almost every facet of life, if more choice is offered, people will take it. Pensions are no exception with the increasing freedom the government has introduced and that came in to force 100 days ago, £1.8bn has flooded out. Read more: Pensions could look more like ISAs In the two months after pension rules were [...]
Sir Clive Sinclair is crowdfunding a new invention: The A-Bike Electric July 14, 2015 Fresh from his victorious fundraising for an updated ZX Spectrum, Sir Clive Sinclair has a new invention seeking crowdfunding – the world's lightest and most compact electric bike. The A-Bike Electric – an upgrade of the original which launched nearly a decade ago – is about to launch on Kickstarter, where Sinclair's team is [...]
How peer-to-peer lending can help wean the UK off artificially cheap credit July 13, 2015 The Budget contained headline-grabbing announcements on banks and pensions. But there’s been little commentary on the chancellor’s declaration that “the government is against unfair subsidies wherever we find them”. This immediately got me thinking about some of the disparities in the financial system and, in particular, the Funding for Lending Scheme (FLS). It’s almost [...]
New Zealand, Turkey and Australia: The countries where your pension pot will go furthest July 10, 2015 Thinking of retiring abroad? New pension freedoms mean Britons can (theoretically) transfer larger amounts of cash abroad than ever before – but what does that mean for those in the market for a home somewhere balmier? New research by foreign currency and international transfer currency Fairfx suggests those looking to move abroad should look to [...]
July Budget 2015: From the pensions expert to the PwC economist, reactions to the chancellor’s statement July 9, 2015 THE BUSINESS GROUP Confederation of British Industry director general John Cridland Firms will welcome measures to boost investment but will be worried about paying living wage. “This is a double edged Budget for business. Firms will welcome measures to balance the books and boost investment, but they will be concerned by legislating for wage increases [...]
July Budget 2015 at a glance: From a new tax-free dividend allowance to the raid on buy-to-let landlords and new inheritance tax rules July 8, 2015 The chancellor outlined £12bn of welfare cuts, introduced new inheritance tax rules & vowed to crack down on tax avoidance. UK ECONOMIC OUTLOOK ● The UK is expected to be the fastest-growing advanced economy again this year. The Office for Budget Responsibility (OBR) expects the economy to grow by 2.4 per cent in [...]
Pensions industry could benefit from tax relief reforms following new consultation July 8, 2015 Financial burdens on pensions could be changed following a consultation into whether there is a case for reforming pensions tax relief. Politicians are also planning to look at whether they should strengthen incentives to save by offering more simplicity and transparency around pensions, or whether keeping the current system is the best option. In yesterday’s [...]
Alternative finance in Asia: Cambridge’s Robert Wardrop on this exciting, untapped market July 8, 2015 Alternative finance is a growing business in the West. In 2014, UK peer-to-peer and crowdfunding platforms made £1.74bn available to firms and individuals, with growth of 168 per cent in Britain and 144 per cent across Europe. But what does the landscape look like on other continents? Set to be published by the end [...]
July Budget 2015 summary: All the personal finance measures announced by George Osborne during his speech July 8, 2015 Today's Budget may not have included as many measures aimed at pensioners and first-time buyers as last time; today, George Osborne seemed more intent on telling firms that Britain was "open for business". Osborne's headline grabber this time around was inheritance tax and the creation of a family home allowance which will help people "pass on [...]
July Budget 2015: Pensions could look more like ISAs July 8, 2015 Chancellor George Osborne, as part of the emergency Budget, has announced the government will publish a green paper looking at further reform and making pensions more like ISAs. The truth is Britain isn’t saving enough and that’s something we need to fix in our economy too. While we’ve taken important steps with our new single [...]
