Financial Planning News

Post Brexit trade uncertainty: A difficult time for British exporters

For British companies who rely heavily on the E.U. export market, Brexit has been a nightmare, to say the least. Until recently, though, the full effects on British exporters have been unclear. Some versions of Brexit currently under consideration by the cabinet could potentially cut U.K. exports by as much as a third, according to a study by a team of trade experts at the University of Sussex. The study also predicted that a fall in British exports would hit ‘Leave’ voting areas such as Sunderland, Coventry and Derby the hardest. These areas are traditional hubs for British industry and Read More

UK Properties slower to sell than one year ago

The housing market has slowed down significantly. The Royal Institution of Chartered Surveyors (RICS) has reported that whereas last year a home typically took 16 weeks to be sold, the average time is now about 18 weeks. June was the 16th successive month of decline. While people may be experiencing difficulties in selling their houses, the flip side for those buying a property is that house prices haven’t been rising. This is good news for first time buyers in particular. According to the Halifax, the UK’s largest mortgage lender, in the year leading up to June 2018, house prices rose Read More

What does the US trade war with China mean for the rest of the world ?

Trump’s presidency has seen U.S. trade policies return to a bygone era of protectionism. At the start of July, the U.S announced $34 billion of tariffs on Chinese goods, suggesting that Trump has China firmly in his sights. With $16bn more in the pipeline and Trump advising his administration to prepare to collect a further $200bn worth of Chinese tariffs, the U.S.-China trade war is already in full swing. The U.S. sees China as a threat because of its rapid rise as a colossal exporter. The figures alone are striking: China already exports almost seven times as much as it Read More

Can we make inheritance tax simpler ?

Inheritance tax (IHT) has existed in the UK for over 300 years. In its current form, it was brought in to replace the old Capital Transfer Tax; a measure that was brought in itself as a form of wealth distribution in order to regulate disparity between rich and poor. Although in concept the idea is quite simple, in reality, the caveats and bureaucracy surrounding it in its present form can make it difficult to get your head around. In fact, this January, Chancellor Philip Hammond called the current system “particularly complex” and appealed to the Office for Tax Simplification (OTS) Read More