Archive for May 2018
Increasing inheritance benefits for couples
Couples could now save an extra £20,000 of inheritance tax (IHT), as the residence nil rate band (RNRB) increased in April 2018. The RNRB was increased at start of the new tax year and it is due to increase by £25,000 in each of the next two years, reaching £175,000 in 2020/21. It will be…
Read MoreHigher threshold for student loan repayments
The income threshold at which student loan repayments begin rose at the start of the new financial year on April 6. English and Welsh students who started their courses after 31 August 2012 can now earn £25,000 a year – up from £21,000 – before they have to start repaying their student loans. The increase could provide…
Read MoreTaking early advice on your tax return
HMRC is starting the tax year with their annual reminder to submit your tax return. HMRC’s reminder might seem early, but its statistics show that 750,000 people (6.5%) missed the deadline for 2016/17, potentially facing an immediate £100 penalty, even if they had no outstanding tax to pay. Anyone with a 2016/17 return still outstanding…
Read MoreHow useful is the Dow?
The Dow Jones industrial Average – the Dow – is a well-known part of the investment market, often quoted by news sources. But what does it mean, and is it useful when making investment decisions? The Dow was created in 1896, and is arguably still used today mainly thanks to history or habit. There are…
Read MorePressure is dropping on inflation rate
The UK inflation rate is falling faster than expected, as the March figure for the Consumer Price Index (CPI) was 2.5%. This March figure, published in mid-April, surprised forecasters, who had predicted annual inflation would remain at 2.7%, as in February. That February figure was itself a surprise, as the forecasts had predicted 2.8%. The…
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