Many self-employed still excluded from Covid help

The UK government has pledged £7.3bn in a refreshed package of support for self-employed people. But critics say that almost 3 million workers may be out of pocket, with the second coronavirus lockdown in England, and the Covid-19 restrictions in Scotland, Wales and...

What Lockdown 2.0 means for your finances

Billions of pounds in support for struggling households has been paid out since the first lockdown, protecting more than 9 million jobs. The furlough scheme had been due to end on October 31 but has now been extended for a month. It means staff who cannot work will...

House prices continue to rise

Yearly house price growth increased to 5.8% in the year to October 2020, Nationwide’s House Price Index has found. This represents an increase from the 5% growth in September 2020. Monthly price growth has slowed from 0.9% between August and September to 0.8% between...

Covid-19 hits retirement plans of over 50s

Coronavirus has altered the retirement plans of one in eight older workers, with one in three reporting a worse financial situation, according to research by the Institute for Fiscal Studies (IFS). The think tank’s study was based on a survey of data from the English...

UK dividends fall

UK companies’ Q3 dividend pay-outs were the lowest for ten years and almost half the level seen in Q3 2019, according to the Link Dividend Monitor. British firms paid just £18bn to shareholders in Q3 2020 on a headline basis, 49.1% lower than their Q3 2019 total...

Pandemic hits pensions hard

The state pension is set to rise just £4.40 a week next year, in the smallest rise allowed by legislation. The increase means the ‘new’ basic state pension is set to rise from £175.20 to £179.60 a week – representing £228.80 a year. The ‘old’ basic-rate state...

The self-employed pension crisis

A new report from the Institute of Fiscal Studies (IFS) think tank has laid bare just how dramatically pension saving has crashed among the self-employed. Back in 1998, just shy of half (48%) of the self-employed paid into a private pension. Yet by 2018 this had...

Pensions savings to be used for house deposits

Pensions minister Guy Opperman has raised the idea of young people using money saved in a pension for a house deposit. Opperman was speaking at a webinar run by Prospect magazine when he said he was looking into ways the UK’s workplace pension system could be extended...

Ebay millionaires

Ebay has found that the number of new, self-made millionaires on its platform has risen by 35% in the last 12 months across the UK. The online retailer said it expects economic uncertainty and unemployment to create a “new wave of entrepreneurs”. The UK capitals...

Is now the time to buy British?

Gold and Bitcoin may be more popular assets among investors at the present time. However, their recent price gains and the appeal of British shares may mean that investing your money in the stock market is a superior move. The short-term prospects for cheap UK shares...