New thinking for Labour on tax?

New tax proposals from the IPPR

New proposals for reforming capital gains and income tax have been published by an influential think tank which could make their way into an election manifesto.  The Institute for Public Policy Research (IPPR) is “the UK’s pre-eminent progressive think tank”, according to its website. This may sound like boasting, but it is probably a fair…

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Blue chips take a knock as Marks & Spencer relegated from FTSE 100

Marks and Spencer shares dropped out of the FTSE 100

Marks & Spencer was demoted from the FTSE 100 in September.  The FTSE100 is subject to a quarterly review of its 100 constituents. The process is not quite as simple as picking the 100 largest companies listed on the London Stock Exchange, but it’s not far off. The latest review took effect on 23 September…

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Interest rates back on the slopes

Interest rates are falling below inflation

In September the US and European central banks cut interest rates, again. When the US central bank, the Federal Reserve, cut its main interest rate by 0.25% at the end of July, it was the first reduction in over 10 years. Less than two months later, the Fed announced a second cut by another 0.25%. …

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Annuity rates hit 25-year record low

Annuity rates have hit a 25-yearlow

Annuity rates hit their lowest level since 1994 in September, with implications for those making retirement decisions.  Since the introduction of pensions flexibility in 2015, annuities have become much less popular as a way of converting a pension fund into income. The most recent figures from the Financial Conduct Authority show that over five times…

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Tax planning: who are the top 1% of income tax payers?

A recent report looking at who pays the most income tax reveals some interesting findings.  The Institute for Fiscal Studies (IFS) published a briefing note in early August with a detailed answer to the question of what it takes to enter the 1% club. Around 310,000 people make up this cohort, with some predictable and not…

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