According to the research, if you have a pre-tax income of around £50,000, then you can count yourself in the top 10% of taxpayers. To make it into the top 1% takes more than three times as much, with the top 0.1% of taxpayers earning more than £650,000 a year.
Are you well prepared for death?
It sounds like an alarming question. Death is still a taboo topic for many people in the UK; it’s not especially comfortable to discuss our mortality, even with our family or closest friends.
But because death is an inevitable part of life, and one which has financial consequences, it is essential to discuss. Preparing for death should be one part of the agenda you cover with your financial planner.
Geopolitical tensions escalated last week following the attack on Saudi Arabia’s oil production facilities. It has been estimated that the attack destroyed c.50% of Saudi production, although there were assured statements from the capital that oil exports would be maintained, and lost capacity would be expediently rebuilt
Post-war baby boomers were once labelled the ‘selfish generation’. New data has challenged the long-held assumption that members of the baby boomer generation get an unfair share of benefits in society, relative to younger people.
On the surface, last week appeared quite sedate in markets as global equities, measured by MSCI ACWI rose +0.16% in GBP terms. This was led by UK and Japanese Equities, while the US markets sold off slightly.
Assets managed by investment companies have surpassed £200 billion for the first time. An investment company often referred to as an investment trust, is a form of a collective investment fund. It has a closed-end structure, which differs from unit trusts or open-ended investment companies OEICS), where new units are created and cancelled based on investor demand.
Nobody knows for sure when the UK economy might next enter a period of recession. Based on historical economic cycles, we do appear to be long overdue a recession; various technical indicators and some commentators have suggested that the process has already begun.
It’s official. The UK economy has shrunk in size for the first time in seven years. According to the latest official figures from the Office for National Statistics (ONS), the British economy contracted during the second quarter.
More retirees with a Final Salary pension are choosing to take their money out of schemes and transfer into a Defined Contribution (DC) scheme. But why are they choosing to give up an income that’s guaranteed for life?
You may think that the title of this week’s ‘World in a Week’ relates to the protagonist of a play, disappointingly this is not the case. Prorogue is the technical terminology for the discontinuation of a parliamentary session without formerly dissolving parliament.