Pension changes: how flat rate tax relief could affect you
The Chancellor looks set to introduce a flat rate tax relief scheme on pension contributions
Rumours are growing that in the spring Budget on 16 March George Osborne will scrap the higher-rate tax relief available on pension contributions and replace it will a flat rate. That would mean all taxpayers getting the same level of tax relief however much they earn. Some might say that sounds fair, but while it would benefit the estimated 15 million workers who pay into a pension scheme, the 4.9 million people who pay… Click here to read the full story
Act now before tax attack on pensions, middle class savers urged
Middle class savers need to act now on retirement savings before George Osborne introduces the flat-rate of pension tax relief, warns the boss of one of the world’s largest financial advisory organisations. The warning from Nigel Green, deVere Group CEO and founder, comes as the Chancellor plans to dramatically overhaul the pension tax relief system by implementing a flat-rate of between 25 and 33 per… Click here to read the full story
Why China Stocks Are Rising Despite Weaker Economic Data
China’s economy is shrinking. Tell us something we don’t know. China’s official fourth quarter GDP growth was 6.8% year-over-year and 6.9% in 2015 as the economy continues to transform into something a bit more Western. On a quarterly basis, growth slowed to 1.6%, the National Bureau of Statistics said on Tuesday. Nigel Green, CEO of U.K. based financial advisory the deVere Group said today’s data shows the physical economy is not… Click here to read the full story
Blue-chips retain gains on Chinese stimulus hopes
The FTSE 100 Index ended the session 97 points higher at 5,876.
The London market closed with most of the day’s gains intact as traders saw the upside of lacklustre Chinese economic figures. The FTSE 100 Index ended the session almost 97 points up, or 1.68% at 5,876 after Beijing released data showing “disappointing” GDP growth of 1.6% quarter-on-quarter in the fourth quarter. It showed the world’s second-largest economy was facing its weakest annual growth rate in a quarter-century. But economists preferred to focus on… Click here to read the full story
Stocks Slide as Crude Oil Struggles to Hold $28
Stocks turned lower by mid-afternoon Tuesday as crude oil struggled to hold above $28 a barrel.
The S&P 500 was down 0.51%, the Dow Jones Industrial Average slid 0.34%, and the Nasdaq fell 0.93%. Crude oil prices fell after the International Energy Agency warned commodities could fall even further this year as the market faces “enormous strain.” In its first monthly report of the year, the energy watchdog said new supplies from countries such as Iran will leave the oil market with a surplus of 1.5 million barrels a day… Click here to read the full story