Personal tax

The slowdown in the property market has meant that the stamp duty ‘holiday’ introduced by the government has not had quite the impact forecast for it.

People with undisclosed funds held in offshore accounts are being reminded that they have only a few days left in which to take advantage of a reduced penalty rate on the taxes owing.

The number of households that are using their money to pay down debts or to boost their savings is on the increase and could be having an adverse effect on the economic recovery.

A combination of low interest rates and rising inflation means that savers are likely to see even poorer returns on their money.

The Chancellor’s decision to increase national insurance contributions might see a squeeze on wages, a think tank has warned.

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