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Investment market update: May 2022

24.06.2022
Investment markets in May experienced volatility amid concerns that economies could fall into a recession as inflation pressure remains high. While you may be worried about the volatility your investments have experienced, keep your long-term goals in mind. A long-term time frame can help smooth out the peaks and troughs of markets. This is because, historically, markets have recovered when you look at the bigger picture. UK At the end of May,...
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House price surge pushes 4.3 million homes into a higher Stamp Duty bracket

24.06.2022
Over the last year, house prices have soared. If you’re searching for a new home, it’s not just the purchase price that could be higher. You may also find that Stamp Duty costs are more than you expect. Having an accurate understanding of the costs of moving home is crucial for effective budgeting. So, here’s what you need to know about Stamp Duty and why the bill could be higher than anticipated. The average house price has increased by...
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26% of people say thinking about finances makes them anxious, as research highlights a link to mental health

24.06.2022
More than a quarter of people feel anxious about money, according to research from the Money and Pension Service (MAPS). People that have recently experienced poor mental health are more likely to worry about finances, which in turn can further harm their wellbeing. The research highlights the link between mental health and feeling in control of finances. As financial security can affect many other aspects of your life, from your ability to...
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Investors have lost £25 million to screen sharing scams, and almost half would fail to spot one

24.06.2022
Scams can have a devastating effect on your financial wellbeing and confidence. While investment scams may be rarer than some other types, they are often associated with losing more money and they’re on the rise. According to statistics from the Financial Conduct Authority (FCA), more than £25 million was lost between January 2021 and March 2022 to a new type of fraud, dubbed “screen sharing scams”. Criminals are taking advantage of the...
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52% of savers don’t understand the effects of inflation, and millions think they’ll be better off. Here’s why it can harm your savings

24.06.2022
Inflation has been in the news for months now, as the rate increases. While you may notice the effects inflation has on the price of goods when you visit the supermarket, it can be more difficult to understand how and why it’ll affect things like your savings. More than half of cash savers don’t know what effect inflation will have on the value of their savings, according to a Legal & General survey. And 13% believe inflation will leave...
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Total tax collected from exceeding the pension Lifetime Allowance is set to reach almost £1.5 billion annually

24.06.2022
Successive cuts to the Lifetime Allowance (LTA) and a freeze means that more people than ever could face an unexpected tax bill when they access their pension. The LTA is the total amount a person can build up in pension benefits without incurring tax charges. Since it was introduced in the 2006/07 tax year, there have been several cuts to the allowance, and it’s now frozen until 2026. As a result, more people are being affected by the LTA...
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Two-thirds of retirees are planning a flexible retirement, but many don’t understand the potential tax implications

24.06.2022
More retirees are planning to work in some way after they retire. While this flexibility can boost your income and help you strike a work-life balance that suits you, it can lead to some tax implications that you need to consider. According to a report from abrdn, just a third of people retiring in 2022 plan to give up work completely while two-thirds will continue to work. Flexible retirement is a growing trend, in 2020 just a third of retirees...
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Investment market update: April 2022

27.05.2022
Many economies are facing high rates of inflation, affecting both businesses and consumers. Globally, the conflict in Ukraine means that economic forecasts for 2022 are being downgraded. Find out more here....
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