Autumn statement 2022: what it means for you
Posted by Andrew_Smith on Wednesday 23rd of November 2022
After several months of economic and political uncertainty the new chancellor, Jeremy Hunt, has delivered his autumn statement.
With announcements relating to energy bills, Income Tax, the State Pension, tax allowances, and Stamp Duty, there are plenty of ways your finances could be affected in 2023 and beyond.
Here are the key points of the autumn statement and what they mean for you.
You may pay more Income Tax in 2023/4The chancellor’s announcements mean many millions of workers are likely to pay more Income Tax over the next few years...
Autumn Budget Report 2022
Posted by Andrew_Smith on Monday 21st of November 2022
What the recent Growth Plan and Government U-turns mean for you and your finances
Posted by Andrew_Smith on Friday 21st of October 2022
Now that the dust has started to settle, what do the recent announcements, and U-turns, mean for you and your finances?
What is still happening
The National Insurance contribution rate will fall from 6 November 2022.
In April 2022, the National Insurance contribution (NIC) rate increased by 1.25 percentage points to pay for additional health and social care services. In April 2023, a new Health and Social Care Levy was set to replace this rise.
In the Growth Plan in September, it was announced that this rise would be reversed from 6 Nove...
4 Things to Consider Before Committing Financial Support to Your Adult Children
Posted by Andrew_Smith on Thursday 20th of October 2022
A large part of being a parent is making our children’s lives easier which often comes in the form of committing financial support to those adult children. But before writing a cheque or making a deposit to your children’s bank, ask yourself these four key questions:
1. What, specifically, is this money for?
The key word here is SPECIFICALLY.
Many parents tend to err on the side of protecting their child’s feelings when weighing financial support. We know asking for money can be embarrassing, and we don’t want to deepen that embarrassment...