PQR Financial Planning

26/07/2017

Following the acquisition of PQR Financial Planning by independent chartered financial planners The Private Office in October 2016 our Facebook account will be closed from 1 August.
For our latest news and insight connect with us on Linked in at us - TPOLinkedIn or for any further enquiries please email [email protected] or telephone 0333 323 9060 alternatively visit our new website www.theprivateoffice.com

17/05/2017

Bank of England expects this to be a “challenging year” for households
This year could see inflation rising and wages falling according to the Bank of England. Governor Mark Carney was however upbeat about wage growth beyond 2017, provided the government can exit smoothly from the EU.
http://www.bbc.co.uk/news/business-39880844

Bank of England governor Mark Carney says households face a tougher time as inflation outpaces wages.

16/05/2017

Many pensions being wrongly taxed say Royal London
800,000 people are though to be paying too much tax on their personal pensions due to being assigned the wrong tax code by HMRC. The problem was spotted by pension providers Royal London, and primarily seems to affect those who have multiple sources of income, such as a pension and a part-time job.
http://www.telegraph.co.uk/pensions-retirement/tax-retirement/one-800000-overtaxed-pension/

Nearly a million pensioners are believed to be paying too much tax because they have been assigned the wrong codes by the tax man.

08/05/2017

Labour and Conservatives pledge to protect workers’ rights including pensions
Theresa May has announced plans to increase the powers of the regulators over company pensions, including fines for employers who deliberately underfund schemes, if her government is returned at the election. Labour has also announced plans to strengthen worker’s rights.
http://www.bbc.co.uk/news/uk-politics-39760717

The Tories promise to protect company pensions, while Labour pledges to improve workers' rights.

03/05/2017

Call for the Triple Lock on state pensions to be reviewed
Former pensions minister, Steve Webb, is calling for the triple lock to be reviewed. The triple lock sees the state pension rise in line with wages, inflation, or by 2.5%, whichever is the highest. It is proving a costly burden for any government to maintain, and former CBI Director, John Cridland, who carried out an independent review last year has recommended that it should be scrapped.
http://www.bbc.co.uk/news/business-39748174

Former pensions minister Steve Webb calls for pension increases that target those most in need.

02/05/2017

House prices fall again in April
According to figures released from Nationwide, prices dropped by 0.4% in April. Despite unemployment being at a 40-year low and mortgage rates near all-time lows, activity in the housing market has slowed. The Council of Mortgage Lenders describes the housing market as currently being in “neutral gear”.
http://www.bbc.co.uk/news/business-39742784

Prices have now fallen for two months in a row, the Nationwide building society says

01/05/2017

Chancellor hints he may drop tax pledges
Philip Hammond has given strong indications that he would like to see the pledges regarding tax increases made in the 2015 Conservative manifesto set aside. In common with all chancellors he would like the freedom to manage the tax burden in line with economic circumstances. This could see the resurrection of the hastily-abandoned plans to tax the self-employed’
http://www.bbc.co.uk/news/business-39671163

Chancellor hints Tory manifesto may drop pledge not to raise income tax, national insurance or VAT.

01/05/2017

Government U turn on new probate charges
The government will not now implement the planned increase to probate fees that would have left larger estates in England and Wales facing fees of up to £20,000. However, the government has declined to say if the scheme will be resurrected if they win the election.
http://www.bbc.co.uk/news/uk-politics-39663204

The snap election means the controversial legislation cannot go through in time, ministers say.

18/04/2017

City outlook post-Brexit has improved
Mark Boleat, policy chief for the City of London, reports that the outlook for the UK financial sector has improved now that Brexit has been triggered. While he acknowledges that a few businesses may relocate staff to Europe, he firmly believes that London will remain a leading financial hub.
http://www.bbc.co.uk/news/business-39544130

Only a few banking jobs are likely to be relocated after Brexit, says the policy chief of the City of London.

18/04/2017

UK inflation remains at 2.3%
The Office for National Statistics reports that inflation remained steady in March, as rising prices for food and clothing were offset by lower air fares. Inflation has been rising over the last few months, due in part to fall in the pound following the Brexit vote.
http://www.bbc.co.uk/news/business-39564885

Rising prices for food and clothing were offset by a fall in the cost of flying last month.

12/04/2017

More than half of over-55s fear the state pension will be abolished
Recent research from Prudential shows that those over 55 have concerns about the future of the state pension, fearing that it will be cut or abolished completely. Many surveyed expressed the hope that there wouldn’t be further changes to private pension legislation, as they find the current rules confusing. If you could use some practical help in planning your pension, then do get in touch.
http://www.dailymail.co.uk/money/pensions/article-4373178/More-half-55s-fear-state-pension-axed.html

Scepticism about the future of the state pension runs deep despite Prime Minister Theresa May's promise to stick with the triple lock guarantee until the next election.

07/04/2017

UK house prices in first monthly fall for 20 months
In what might be viewed as good news for first-time buyers looking to get into the housing market, average house prices across the UK fell by 0.3 per cent in March. The National Housing Federation reports that house prices in England rose by 120 per cent between 2002 and 2016, while salaries have increased by just 38 per cent in the same period.
http://www.bbc.co.uk/news/business-39452238

House prices saw the largest monthly fall for nearly five years in March, the building society says.