Since the start of the coronavirus lockdown, one in 10 workers in the UK have decided to pause their pension contributions. A further 13 per cent have also considered halting their contributions according to research by Canada Life. Additional analysis has revealed that over a third (37 per cent) of those who have paused contributions did so in order to pay for essential spending. 30 per cent of respondents paused Read More….
Earlier this year as a result of the coronavirus pandemic, the FTSE 100 marked its worst quarter since 1987, losing around 25 per cent of its value. The biggest losers were travel and leisure stocks, dropping up to 45 per cent due to falling demand and tougher restrictions. Even though the FTSE 100 started to rise steadily as the UK economy reopened, fears of a ‘second wave’ plunged the index Read More….
According to the Office for National Statistics, the UK economy has recorded its third consecutive month of growth, rising 6.6 per cent in July. This follows growth of 8.7 per cent in June and 2.4 per cent in May. The FTSE 100, a popular gauge of prosperity for businesses regulated by UK company law, closed up 79.29 points at 6,105 on the 15th September. Pound sterling also continued to make Read More….
The FTSE-100 continues to move upwards despite the news that the UK economy suffered its worst ever fall in the second quarter. Thanks to a weaker dollar, signs of a slowing coronavirus spread as well as hopes for new stimulus propelling British equities higher, the index recently closed at a two-month high of 6280. The Footsie’s performance has been echoing similar strong gains across European indices, taking its cue from Read More….
According to a survey of 2,000 adults by Finder, over a third of Brits are eating into their savings during the COVID-19 pandemic. Since the coronavirus lockdown began on 23rd March, 36% of UK adults have supported themselves with savings. On average, these people have used £1,420 of savings over the first seven weeks, which is equivalent to a fifth (21%) of the UK’s average savings pot. But perhaps more Read More….
Due to the exceptional circumstances that many industries and organisations are facing during the COVID-19 pandemic, HMRC has updated its guidance on repayments of corporation tax. Claims for repayments of corporation tax for prior periods based on anticipated losses before the current accounting period has concluded will now be considered. Having previously raised the issue with HMRC, the Tax Faculty of the Institute of Chartered Accountants in England and Wales Read More….
Lower-income households are using savings and borrowing more during the coronavirus lockdown according to research by the Resolution Foundation. In fact, poorer families are twice as likely as richer ones to have increased their debts during the crisis. By contrast, richer families are actually saving more because they’re not able to eat out or go on planned trips abroad. Just one-in-eight high-income households have increased their use of consumer credit Read More….
As the world starts to readjust for the long-term consequences of the COVID-19 pandemic, businesses must find ways to guarantee financial stability. For many, this means turning to investors for capital. But why are companies doing this? Should investors take such a leap of faith with their money? And what are the long-term consequences of saying yes or no? Reasons for seeking investment Turning to investors for an injection of Read More….
Just like every other type of investment, pensions tend to fluctuate in value over time, especially during political or economic uncertainty such as the current coronavirus pandemic. This can result in a great deal of stress and anxiety, because not only did you work hard to save for your pension, it’s what you’ll be relying on to live comfortably in retirement. So what are some of the main reasons why Read More….
The potential impact of the coronavirus pandemic could see pension liabilities increase by as much as 15-20 per cent. That’s according to the River and Mercantile Group, who believe the industry will be hit with the “perfect storm…in terms of funding”. In its Interim Financial Report, the group revealed that an ongoing collapse in gilt years together with a sharp fall across global equity markets has resulted in a major Read More….