Loans and Finance

Loans and Finance

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News and information about loans, money, debt, finance and business issues.
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Friday, December 03, 2021

Omicron To Delay Rate Rise

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:
  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Tuesday, November 30, 2021

Slow Hand Clap of Derision for CEO of Moderna - Market Manipulation


Stéphane Bancel, the head of Moderna, has said that Covid-19 jabs were unlikely to be as effective against the variant.

Unsurprisingly the FTSE et al all fell dramatically.

Well done Stéphane!

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Friday, November 26, 2021

Andrew Bailey's Murky Job


 

The Bank of England governor, Andrew Bailey, has said the difference between providing commentary on the state of the economy and what the central bank is likely to do with interest rates is hard to define.

“The boundary between a commentary and guidance is quite murky, actually, when you think about the words we use,”

The Bank shocked financial markets this month when it kept interest rates on hold at their pandemic lows. Investors had interpreted remarks made by Bailey in October as a signal that rates would rise at the November meeting of the monetary policy committee.

The next decision is due to be announced on December 16.

Answering questions, Bailey said there were three forms of forward guidance and the one that was currently in use was “not so much forward guidance as a reminder of where we are”.

He then went on to blame his predecessor for the confusion.

He said the system put in place by his predecessor, Mark Carney, “is pretty hazardous [and] more hazardous in a more uncertain world”. In 2013, Carney told markets that the Bank would consider raising interest rates when unemployment fell to 7 per cent.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Tuesday, November 23, 2021

Bulb Goes Bust


 

Bulb Energy, which has 1.7 million customers, has announced that the firm will be put into administration.

It is the largest UK energy company to face difficulties following a sharp rise in wholesale gas prices this year.

Bulb will become the first energy company to be placed into "special administration", where it is run by the government through the regulator Ofgem.

"Customers of Bulb do not need to worry - Bulb will continue to operate as normal," Ofgem said.

"Customers will see no disruption to their supply and their account and tariff will continue as normal. Bulb staff will still be available to answer calls and queries."

The special administration measure is only used if Ofgem is unable to find another company to take over an energy firm's customers. The regulator said it was planning to apply to a court to appoint an administrator who will run the company.

Bulb said energy supplies were "secure and all credit balances are protected".

Bulb is the UK's seventh biggest energy company and has 1,000 staff. It has been trying to shore up its finances for several weeks.

Ofgem set up the Special Administrator Regime (SAR) for when an energy company goes bust but is too big to have its customers transferred to another firm.

The aim of the regime is to stop financial failure spreading across the industry.

Under the SAR scheme, the government can make grants and loans to the company while its future is sorted out.

It could come in the shape of a takeover by another company, selling parts of its business or customers being transferred to another firm.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Monetary Policy Explained

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:
  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Monday, November 22, 2021

Kensington Launches 40 Year Fixed Rate Mortgage

Kensington Mortgages is to launch fixed-rate mortgages of up to 40 years on Tuesday in what will be one of the first products of its kind in the UK market. The lender has partnered with Rothesay, the UK’s largest pensions insurance specialist which has more than £60bn in assets, to finance the longer-dated mortgages. Its “Flexi Fixed for Term” mortgages will allow borrowers to fix the rate paid on their mortgage for the full term of the loan — anywhere between 11 and 40 years.

Mark Arnold, chief executive at Kensington Mortgages, said that while many homeowners had never known anything but ultra-low interest rates, the environment was likely to change. 

“Nothing lasts forever and it looks very likely that we will see a succession of interest rate hikes and we may begin to slowly approach again an historical average,” he added. “A fixed-for-term mortgage — already very popular in some parts of continental Europe — is likely to become increasingly attractive in a rate-rising environment.” 

Rates will depend on the fixed term chosen and amount borrowed. A 95 per cent loan to value mortgage will be available for new purchases and 85 per cent LTV for remortgage. 

 For the longest-dated mortgages of 35 years and 40 years, rates will start at 3.16 per cent and 3.34 per cent respectively, at a 60 per cent LTV. Rates at the shorter end of mortgage terms will be lower — starting at 2.83 per cent for a 15-year product at the same LTV. For 25 and 30-year terms, rates will be available from 2.85 per cent and 2.90 per cent respectively. 

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Thursday, November 18, 2021

£96BN Rail Investment Confirmed

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:
  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Wednesday, November 17, 2021

RPI Hits 6%

It is mainly due to higher fuel and energy prices but the cost of second-hand cars and eating out also rose, the Office for National Statistics said.

Needless to say the media and others are fulminating at the numbers, and are wondering if Bailey and the MPC will finally follow through on his threats to raise rates (even though he doesn't think they will have any effect).

Given that these costs are related to the reopening of global economic activity, in my view we can allow the economy to run hot for the next few months without the need to raise rates.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:
  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Amazon Calls Visa's Bluff

 

Visa is to raise interchange fees on cross-border transactions between the UK and EU.

The move comes as Visa faces an investigation by the US Justice Department over possible anticompetitive practices in debit card transaction routing. 

Prior to Brexit, UK merchants and card holders benefited from a 0.3% cap on credit card interchange fees imposed by the European Commission.

As from October Visa will increase the fees for online and over-the-phone purchases to 1.5%. The fee for debit card payments is also set to rise from 0.2% to 1.15%.

In response, Amazon has called Visa's bluff and has written to its customers telling them it will no longer accept Visa credit card payments (Visa debit cards will still be allowed) as from 19 January 2022. This gives Visa the opportunity to reflect on its decision.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Tuesday, November 16, 2021

Bailey Speaks - The Markets Tremble?

Andrew Bailey, Governor of The Bank of England, speaking about inflation told the Commons Treasury select committee yesterday:

“I’m very uneasy about the inflation situation.

I want to be very clear on that. It is not, of course, where we wanted to be, to have inflation above target. On the decision itself, however, it was a very close call in my view,”

In reality the vote was 7-2!

Given that his last comments about inflation were nonsense, maybe he should just keep his mouth shut in future?

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Germany "Temporarily" Suspends Certification Process of Nord Stream 2

Well this will go down like a bag of sick in the Kremlin!

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:
  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Monday, November 15, 2021

Shell Moves HQ To The UK

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:
  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Friday, November 12, 2021

Russia To Invade Ukraine?


 

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Thursday, November 11, 2021

UK Q3 GDP +1.3% vs +1.5% Expected

A further easing of restrictions saw UK GDP expand by a decent amount (1.3%) in Q3, though less robust demand conditions and self-isolation restrictions in August may have weighed on overall activity during the quarter.

As things stand, UK real GDP is now 2.1% below its pre-pandemic level (Q4 2019).
 
The media have got very excited over the fact that this is less than expected. However, as I have noted many times before, ONS statistics are not that accurate and are invariably revised upwards.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.

Wednesday, November 10, 2021

M&S Shares Surge by 20%

 

Shares in Marks & Spencer have surged by more than 20% after it raised its profit forecasts for the second time in less than three months.

M&S said it expects full-year profit to hit roughly £500m – a jump from its previous estimate of around £350m.

M&S’s improved performance was driven largely by food sales, which jumped 10.4pc in the first half as more people cooked at home during lockdowns. Its clothing line – historically its more troubled division – suffered from store closures, but revenue was down only 1pc.

Shares jumped as much as 21pc, hitting the highest level since 2019, before falling back to gains of 16pc.

However, it warned that it was hard to “unravel” the continued impact of the pandemic on higher sales, adding that supply chain troubles and cost inflation posed a threat.

Tax Investigation Insurance

Having a Solar Protect Tax Investigation Insurance policy at your disposal means that should you be one of the many 1000's of businesses or individuals that are selected by HMRC each year to look into your tax affairs your own accountant (your tax return agent) can get on and defend you robustly.

You have the peace of mind knowing that your accountant's (your tax return agent) fees will be paid by the insurance without any Excess for you to find.

Tax Investigation Insurance is an insurance policy that will fully reimburse your accountants (your tax return agent) fees up to £100,000 if you are subject to enquiry by or dispute with HMRC.

A Solar Protect policy will enable your Accountant (your tax return agent) to:

  • Deal with any correspondence from HMRC
  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
  • Having the security of knowing that fees will be met in full will enable your Accountant (your tax return agent) to defend your position robustly

Please click here for details.