Finance in the News – w/c 08.03.21

Short summaries of recent articles we think you will find useful from some of the UK’s broadsheets.

FINANCIAL TIMES

“The Budget, your money and how to prepare for what comes next”
Look at the changes in personal taxes, pensions, investment and property — and consider your options.
“Q&A: The bond market shock”
Why turmoil in global fixed income matters to your portfolio.
“‘Stealth’ raid on income tax thresholds”
Move will affect more than 2m people when introduced in 2022.
“UK women win £2.7bn top-up to underpaid state pensions”
About 200,000 retirees could be in line for pay-outs averaging £13,500 after years of shortfalls.
“Pensions lifetime allowance frozen for five years”
Treasury estimates the move will raise £990m by 2025/26.
“Bond turmoil heralds end of the standard portfolio”
If fixed-income no longer offers stability, look elsewhere for protection from equity volatility.

THE TIMES

“If you care about the planet you should not buy bitcoin”
At its advent, bitcoin was touted as a democratic tool. While that might be a noble sentiment, it does tend to ignore the protections that come from having a government-backed currency, the regulation that stops it being abused, and the levers that can help stop sharp rises and falls in its value.
“I’m self-employed. Why won’t the chancellor help me?”
Many self-employed people don’t understand how they fell through the cracks.
“Pensions have been freed, but this has trapped me in a tax minefield”
Freedom sounds nice, but it can come at a very high price, as many know from painful experience. HM Revenue & Customs (HMRC) figures show that nearly 1.6 million people paid more than £8 billion extra tax since the “pension freedoms” allowed us to spend our retirement savings however we like from the age of 55.

THE TELEGRAPH

“400,000 flat owners to be freed from cladding paperwork nightmare”
Buildings more than 18m tall without cladding will no longer require an assessment.
“How to cut the ballooning costs of living in a listed historic home”
These properties cost on average 22% more than non-listed equivalents, and their maintenance can be pricey.
“Will London house prices recover? New York’s property bust and boom has the answer”
During the summer, buyers in Manhattan were negotiating 50% off. Now, sales have skyrocketed.

THE GUARDIAN / OBSERVER

“Young women ‘must work 40 years longer than men’ to plug £100k pension gap”
Pension savings shortfall tops £100k because women earn less, often work part-time and take time off for family, study shows.
“Extra 1.3m people in UK to start paying income tax over next five years”
Office for Budget Responsibility says further 1m will be pushed into higher rate taxation as result of 2021 budget.

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Source: https://www.techlink.co.uk/