Finance in the News – w/c 11.01.22

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

FINANCIAL TIMES

“UK household finances strong in face of inflation and spending increase”
But poor families remain under acute pressure.
“House sales boom drives bidders far above asking prices”
One-third of homes sold above the original price last year.
“Crypto industry boosts political clout with Westminster group”
Companies want rules that ‘support innovation’.
“HMRC extends self-assessment window by a month”
Decision driven by Covid-19 impact on businesses and individuals.
“Investment and the multiple risks of 2022”
From unwinding central bank policies and overvalued assets to geopolitical fears.
“UK households face biggest income squeeze in a generation”
Energy price rises, tax increases and higher prices will combine in a ‘cost of living catastrophe’, experts warn.

THE TIMES

“Why are there now so many bitcoin trading firms?”
The regulator has already issued 30 warnings about trading firms this year but hundreds remain.
“Bitcoin’s noble goal is no more. Time for regulation”
The driving force behind bitcoin, the first cryptocurrency, was that it would create a payments system outside the existing financial system. It was all very noble.
“It’s the end of the peer-to-peer show”
The new lending model was supposed to be an alternative to bad banks, but 15 years on it is dying out.

THE TELEGRAPH

“House sellers pocketed £95k each last year”
House price growth meant vendors made an average profit of 46% on what they originally paid for their home.
“‘I’ve unexpectedly received money in my bank account – am I legally allowed to keep it?’”
Ask a Lawyer: a mystery deposit arrived in the account – but was it a mistake?
“Money Makeover: ‘How do I pass on my £2m estate without paying inheritance tax?’”
A 90-year-old reader wants to leave his property empire, that pays out more than £100,000, to his children.

THE GUARDIAN / OBSERVER

“Cost of living squeeze: how much worse off will you be in 2022?”
From energy bills to food, national insurance to rail fares, households will take a hit this year.
“Owners of flats in smaller buildings to be spared cost of removing cladding”
Treasury letter suggests developers will be pressured to fund safety measures that could cost £4bn.

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