Chancellor Rachel Reeves announced an astonishing £40 billion of tax rises in her maiden budget, and yet, despite that, there will be relief in some quarters that things didn't turn out worse.Capital gains tax is one of the areas where the Reeves' raid was not as bad as feared, as there had been speculation she would bring capital gains tax rates into line with income tax, with the top rate risin

I am drawing a final salary pension and the state pension. Very soon, the total of these will take me over £100,000 in annual income when I will start to lose my annual personal allowance of £12,570 and my effective tax rate will be 60%. I have minimised other income outside of ISAs, i.e. dividends from shares and interest from savings. So, I am looking at ways to stay below £100,000. From read

If you pick up a newspaper this month, you are almost guaranteed to read about the taxes the new chancellor is planning to hike, or the tax reliefs she is looking to axe. But one set of tax reliefs we know is here to stay are those supporting venture capital trusts.The Treasury has just confirmed the VCT scheme will now run until at least 2035 in order to support small British businesses. Many inv

Many retirees rely on income from a mix of pensions, investments, and property. While retirement may bring lifestyle changes, the tax rules remain the same as if you were employed. This means income from investments or pensions is taxed just like any other earnings.If your total income exceeds £125,140, you'll pay tax at the additional rate of 45%, whether that's from a salary, dividends, or rent

Shares in Blackpool-based specialty chemical-maker Victrex (VCT) touched 10-year lows last week after the firm said trading in its markets remained tough and it would take a sustained upturn in its medical division to meet its annual profit target.The FTSE 250 supplier of high-performance polymers has been facing de-stocking by its medical customers along with lower utilisation rates at its plants

Hilton Food CEO offloads £129,110 worth of stockGreencore director buys 30,000 sharesVictrex CEO invests £37,873Robert Watson, chairman of retail meat packing outfit Hilton Food Group (HFG) sold 14,747 shares at 876p in a trade with a total value of £129,110 on 6 June.Watson joined the group as CEO back in 2002, over the past year Hilton's shares have gained 28%.There could be a spot of profit-

Balfour Beatty CEO sells sharesCarr's director snaps up stockVictrex CFO buys after first-half resultsLeo Quinn, chief executive of construction group Balfour Beatty (BBY), sold 189,921 shares at 384p for a total value of £730,423 on 16 May.Quinn's move could be seen as 'cashing in' on good news after Balfour Beatty shares have gained over 9% year-to-date. The FTSE 250 company recently said it co

I have a SIPP worth just over £1.5 million. I have previously applied for fixed protection 2014 and understand that this means my tax-free cash allowance is higher than normal.I am aged 73 and as yet haven?t touched the funds. Furthermore, I am not proposing to take any income in near future, instead I am taking income from my ISAs. What is the downside of crystalising a chunk of the SIPP and may

High-performance polymer-maker Victrex (VCT) delivered a downbeat assessment of the outlook for the current financial year last week citing weakness in demand in several end-markets.The update caused the shares to fall almost 15% to a new multi-year low of £11.52 before clawing their way back gradually to the £13.40 level.In December, the firm warned it was seeing a slow start to the year, with

Despite having worked in finance since the mid-1980s, Geoff admits he didn't actually start thinking about investing for his future seriously until the mid-1990s.After returning to the UK following a secondment in Europe, he was surprised to receive a cheque from HMRC for the overpayment of income tax while he was abroad.'It was only £3,000, but I was 31 and at the time that was a decent chunk of

Stocks in London began the week in the red, as uninspiring Chinese growth data failed to allay continued fears about the pace of the nation's recovery following the end of its zero-Covid measures late last year.Despite Cartier-owner Richemont reporting first quarter sales growth, luxury retailers were the worst hit, alongside miners.Meanwhile, Gresham House agreeing to a takeover by Searchlight an

Shares down 15% year-to-dateIssues revised guidance of £80-85 millionPlastics firm blames weak industrial volumesShares in plastics firm Victrex (VCT) fell over 10% to £13.71 in early trading as the company issued a profit warning via an unscheduled trading update, but recovered somewhat to trade 4% lower.Its shares have fallen over 15% year-to-date (YTD).Victrex said it is now likely to see con

Equity markets were trading more confidently early Wednesday in Europe, amid growing confidence that the US central bank will pause its current cycle of interest rate hikes.Data showing renewed growth in UK economy and a promise of higher returns by key dividend payer Shell were contributing to the positive mood in London.The FTSE 100 index opened up 10.82 points, or 0.1%, at 7,605.60. The FTSE 25

There is no hotter area to invest in today than artificial intelligence, or AI as it is commonly known. Ever since OpenAI's ChatGPT took the world by storm, investors have been racing to find winners from this explosive trend.Corporate leaders, meanwhile, have been scrambling to prove to investors that they are harnessing the technology to drive revenue growth, improve operational efficiency, and

Retiring as a millionaire has been the dream of many people for years. In the fanciful world of 'what if' chats over a pint, it didn't matter how you did it, the endgame is what mattered, not the journey. Buying that Ferrari, taking luxurious cruises around the Caribbean, or owning that stately pile in the country was the dream of millions of us, and we played the pools or bought National Lottery

Capital gains tax is about to become a big headache for many more investors. Under current rules, individuals have a relatively generous £12,300 of investment gains which they can realise each tax year without being subject to tax.However, the Chancellor has announced that from April 2023, this allowance will fall to £6,000, and then from April 2024, it will be cut to just £3,000 a year. Any ga

While Jeremy Hunt may have stuck to the government's promise not to raise tax rates, the Autumn Statement means more of most peoples' income and capital will find its way into the Treasury's coffers during the course of this parliament.In order to fill the £55 billion 'black hole' in government finances caused by the energy support package and higher borrowing costs, the chancellor outlined £30

The VCT (venture capital trust) offer season is in full flow and recent launches include Octopus Group's £35 million fundraise for its Octopus Apollo VCT (OAP3) and Gresham House's £76 million raise for its generalist product Mobeus Growth & Income VCT (MIX).The Mobeus offer opened on 17 October and raised £52 million in the first three days, showing the popularity of these types of funds. Mobe

Given the poor recent performance of many investment trusts compared with the FTSE 100 index - which has held up relatively well this year and which investors can access via a tracker fund for a few basis points - the age-old issue of fees has reared its head again.The big question for investors in investment trusts which carry a high OCF (ongoing charge fee) is should they stick with them when th

The US dollar is trading at 20-year highs against a basket of major currencies. It has benefited from the twin tailwinds of big interest rate hikes from the US Federal Reserves and recession fears.When rates are rising faster in the US than in other parts of the world, the higher returns on offer attract more money into the US currency. In addition, the dollar is considered a safe haven currency a