Pension tax relief is safe for now…

In the run up to any budget or General Election, there are always rumours circulating regarding the abolition of pension tax relief. In fact, whenever the Government look to save money, pension tax relief seems to be a likely target. Therefore, many pension savers will be pleased to hear that the threat of cuts to the current system have been publicly neutralised by David Gauke, the Work and Pensions Secretary. Mr Gauke released a statement on the 4th July, saying that he doesn’t expect to see any fundamental changes in the near future. What ...

Savings: Is the price to beat inflation worth paying?

iStock_000007329749XSmallEven though inflation has started to fall, the clamour for savings accounts which beat inflation has never been stronger. But whilst it’s important to beat inflation, is this the only thing savers should be taking into consideration when selecting a savings account? Why is it important to beat inflation? Simply put, if your savings don’t grow by an amount equal to inflation, the buying power will be reduced and you will lose money in real terms. To put it another way. If at ...

“Secret Saving” couples hide hundreds

iStock_000008235869_ExtraSmallA new report has revealed the UK has 2.3 million secret savers, hiding a massive £2.1 billion from their partner. According to the report by Lloyds TSB, individuals hide an average £823.48 from their partner, equivalent to 28% of their overall savings. On average, secret savers keep up to 63% of their savings and investments in their sole name, with many believing their partner would spend it, should they have access to the cash. Younger people are more likely to hide their savings though, with 80% of ...

Budget 2013: Winners and Losers

Investment Sense Verdict_istockToday’s Budget included a wide range of measures which will affect us all; but were you a winner or a loser? For once there seems to be more winners than losers. However, with so many announcements, changes and alterations it might be a case of ‘swings and roundabouts’. Read on to find out if you have gained more than you have lost. Winners Tax-payers The Personal Allowance, the amount which can be earned before tax is paid, will increase to £10,000 from April 2014, a year earlier than ...