Billionaires do well during the pandemic

Billionaire wealth soared to a record $10.2 trillion at the end of July after asset values bounced back following a coronavirus-induced dip, according to a report from Swiss bank UBS and accountancy firm PwC. The plunge in the equity markets in February and March,...

Pension tax rise to deal with Covid debt?

The government should consider raising the amount of tax retirees pay on their pension withdrawals to help pay off the UK’s Covid-19 debt, the Institute for Fiscal Studies has said. Appearing at a Treasury Committee hearing on tax after coronavirus on September 1,...

Equity release used to pay off debts

According to their findings, two-fifths (41%) of equity released in the first half of 2020 was used to pay off debts. Over 40% of the total amount of new equity released (which equates to around £588million) was used to clear some form of borrowing with mortgages...

Age at which you can access your private pension plan raised

The British government has announced plans to raise the age at which pension pots can be accessed from 55 to 57. The change would mean that millions of Britons in in their 40s will have to wait until 2028 at the earliest until they can access their private pension....

Tech stocks – time to sell?

Tesla shares have led a rebound in tech stocks, just one day after stock in the electric car maker suffered its biggest ever drop, wiping $16.3 billion from the net worth of CEO Elon Musk. Shares of Tesla jumped 11% for the day on Wednesday, after shedding about a...

Housing market – what does the future hold?

Crises come and go but no matter what, house prices always rise, right? That’s just what they do in this country. According to data from Nationwide, house prices in the UK rose by 21% on average during the 1990s and 33% during the 2010s. This is why property, like...