Article by Christina
Here’s the latest news from Christina Clegg your female financial adviser:
- A St James Place survey found that 25% of clients made changes to their financial plans as a result of the speculation around what might be included in the budget. 20% of those now regret the changes that they made.
- The FCA announced that it would relax the rules on contactless payment limits and allow customers to set their own limits from March. 95% of all transactions are apparently now contactless.
- The FCA has also issued a warning about unregulated investments schemes involving holidays homes and lodges. Please be careful with this type of investment offer. Your local female financial adviser would be unlikely to recommend investments like this.
- HMRC reported even more online filing over Christmas than usual this year. Perhaps there was nothing on TV! On Christmas Day 4,606 people filed their tax returns online with over 10,000 doing theirs on Boxing Day. W
- But as of the 1st of January, 5.6 million people still hadn’t filed their self-assessment returns despite the deadline being 31st
- At the same time HMRC issued 1.3 million tax demands. Most between £100 and £1000. Many of these were sent to pensioners who have been caught by the frozen tax allowances. The number has doubled over the last two years.
- HMRC say they are also coming after people making gains from the sale of crypto.
- The FTSE 100 broke through the 10,000 barrier for the first time.
- 2025 saw no compensation at all paid to people who had previously transferred their defined benefit pensions. That’s because they are all better off than they would have been if they kept their pensions with their employer schemes.
- According to Aegon – 50% of Generation X – that’s people aged between 45 and 59 are not positive about their finances. Compared with younger Millennials – aged between 29 and 44, 68% of whom are upbeat about their finances. Overall Aegon found that 60% of people are upbeat about their finances – that’s good to hear – especially from women using a female financial adviser.
- HMRC has released figures showing that over 2 million people in the UK now earn over £100,000 a year. That’s 6% of all workers. A massive increase on the 1.2 million back in 2022. One wonders how many of these are public sector workers.
- The tax rate for those earning £100,000 to £125,000 is now an eye watering 62%. This has created a new category of workers called Henry’s. The are high earners who are not rich yet.
- According to Hargreaves Lansdown only 20% of people intend to down size when they retire. 30% said they might, but 50% said that would not downsize. The main reasons for not moving included an emotional attachment to the house, not wanting anywhere smaller and the costs of moving.
- Inflation rose to 3.4% in December. The Government’s target is 2% inflation.
- The Advertising Standard Authority (ASA) has banned Facebook adverts by Whisky and Wealth Club for claiming to offer unsubstantiated investment returns. There were also no risk warnings in the adverts. Please always look out for risk warnings and adverts which promote returns which are too good to be true.
- Similar adverts for Cult Wines have also been banned by the ASA for similar reasons.
- St James Place are in the spotlight again for the wrong reasons. This time it’s around their suspended property fund. It seems that investment bonds which are partially invested in the property fund are attracting higher tax charges because the bonds can’t be fully cashed in. It seems more compensation is potentially on the way for SJP customers.
- With a week to go 3.3 million people still hadn’t completed their self-assessment tax returns.
Get more information.
If you need help from a female financial adviser then why not contact Christina today. She offers a free initial meeting to discuss your requirements and explain how our service works. You are under no obligation to use us after that if you don’t want to and we won’t pester you.
So why not call us today on 01282 614444 or e mail us enquiries@ccfps.co.uk or use our contact form online.
