Wealth Knowledge, June 2021

UK homeowners borrowed a record £11.8 billion more on mortgages than they repaid in March 2021.
Figures from the Bank of England showed the net-borrowing level was the highest of any comparable month since records began in April 1993. 
The previous record of £10.4bn was set in October 2006. 

Wealth knowledge, May 2021

Cryptoasset investors have received further clarity on the tax treatment of their unregulated investments from HMRC. Bitcoin is by far the most well-known cryptoasset, although there are more than 1,000 others in existence. Last month, the value of one Bitcoin soared past $60,000 (roughly £43,383) for the first time after some high-profile companies adopted it as a payment method.

Wealth knowledge, April 2021

The Treasury expects inheritance tax receipts to soar by almost £1 billion by 2025/26, following the decision to freeze two key thresholds in last month’s Budget. The nil-rate band will continue at £325,000, while the residence nil-rate band remains at £175,000 until April 2026.

Wealth Knowledge, March 2021

OTS proposal could trigger a spike in pension tax relief bills.
Higher-rate taxpayers who save into personal pensions and fail to claim extra tax relief could soon have it handed to them automatically under a new proposal.

Wealth knowledge, February 2021

Chancellor Rishi Sunak is expected to shelve plans to introduce tax rises in next month’s Spring Budget, according to reports.
The Chancellor will deliver his second Budget on 3 March 2021 and his first since COVID-19 began to engulf the UK last March.