Short summaries of articles we think you will find useful from some of the weekend’s broadsheets.
“Rich People’s Problems: Time to kill off the chatbots”
Time-wasting technology costs us more money than we realise.
“Watchdog tells HMRC to look more closely at loan charge suicide”
‘No available evidence to suggest staff knew of an immediate threat to the individual’s life’.
“Investing for children, women savers and the UK debt crisis”
FT Money writers discuss this week’s personal finance news.
“Brexit drains £30bn from UK funds”
Outflows spike as investors spurn UK assets and shift to EU funds.
“FCA reveals growing gaps in generational finances”
Research disproves assumption that each generation enjoys better quality of life.
“Sell in May — but what about the rest of the year?”
Investment adages to stick in your monthly calendar.
“Dividend tax shock set to hit millions of investors”
Investors are facing a £1bn raid on their dividends when they fill out their annual tax returns this year.
“Our homes have made us rich. Now they must fund our care”
The near £1bn withdrawn in equity release from properties in the first three months of the year tells us one thing for sure: we Brits are getting much more comfortable with spending the wealth locked up in our homes.
“The Brexit effect spurs investors to vote for Europe”
Savers and pension funds have moved billions out of the UK since the referendum.
“Probate chaos: property deals collapse and printers stop working”
Property sales are falling through as the “chaos” of the new online probate system has left some people waiting months for a process that should take 10 days.
“Banks are cutting mortgage rates: why now is a great time to grab a cheap home loan”
High street giants Barclays, Halifax, Santander and TSB have all cut the cost of their home loans, as have smaller players such as Coventry Building Society, Post Office Money and Virgin Money.
“Landlords could face 100pc tax rate as buy-to-let made ‘scapegoat for housing crisis’”
In its latest publication the Institute of Economic Affairs (IEA), a free-markets think tank, said the Government’s recent tax changes for buy-to-let property owners defied “any basic economic analysis”.
“Philip Hammond plans world’s highest minimum wage”
Increase to £9.61 would lift millions of workers out of low pay trap.
“How Airbnb took over the world”
In just 11 years, it has grown from nothing to a $30bn firm. But critics say Airbnb’s rise has come at a huge cost to urban life – and cities across the planet are trying to find ways to rein it in.
“Labour’s plan to renationalise UK water companies would be a disaster for everyone”
If carried out, Labour’s proposal to take control at such a whopping discount would be a disaster for shareholders, millions of whom are pensioners, who would lose up to half of the value of their investments, but also customers who could face higher water bills.
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As tax year end approaches, there is still time to make use of your available reliefs and allowances.
This tax year end planning checklist covers the main planning opportunities available to UK resident individuals and will hopefully help to inspire action to reduce tax for the 2023/24 tax year and to plan ahead for 2024/25.
As tax rate band thresholds are changing, understanding the impact on high rate taxpayers and the economy is crucial.
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