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Tuesday, July 27, 2021

China Screws With The Hang Seng

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.

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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, July 26, 2021

UK Growth Fastest Since The War

Forecasts published by EY Item Club predict that the UK economy will grow 7.6% this year, the fastest pace of expansion since 1941.

The recent burst in consumer spending triggered by the lifting of restrictions to curb the spread of the virus has prompted forecasters to up their expectations for output growth.

The firm also predicted that the UK economy is likely to recovery faster than other economies due to spending rising rapidly in the services industry, which the economy heavily relies on.

Martin Beck, senior economic advisor to the EY Item Club, is quoted by City AM

“Vaccines have played a key role in bringing forward the reopening of the economy and have been a key factor in the upgrades of the forecast throughout this year.

Compared to other economies, the UK is much more dependent on consumer spending on services, such as recreation and leisure activities, which meant that lockdowns had a greater economic impact here than elsewhere. Reopening these face-to-face parts of the economy means the UK should have a correspondingly faster recovery.”

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.

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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, July 22, 2021

Don't Panic About Inflation Blip

 

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, July 19, 2021

Tight Policy Isn't The Right Policy!

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.

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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
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Friday, July 16, 2021

US Issues Risk Advisory for Hong Kong

Tax Investigation Insurance

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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:
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  • Appeal to the First-tier Tribunal or Upper Tribunal
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Wednesday, July 14, 2021

CPI Hits 2.5% - Driven by Used Car Prices

CPI hit 2.5% in June, pushed in a large part by used car prices which rose the most on record in the UK in June.

The cost of previously-owned vehicles rose 4.4% in June, the most since records began in 1996, and contributed to an unexpected 2.5% increase in consumer prices, the Office for National Statistics said this morning. The ONS said consumers were paying more to avoid trains and buses.

The demand for used cars is driven by a shortage of new cars, as a result of car production delays for new vehicles caused by a shortage in semiconductors sending prices surging.

Tax Investigation Insurance

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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
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Wednesday, July 07, 2021

Question for Wetherspoons


 

The BBC reports the following:

Wetherspoons says it will have to put up the price of food in its pubs by around 40p a meal if a VAT cut for the hospitality industry is not extended.

The tax was slashed on food sold in pubs from 20% to 5% during the pandemic to help struggling businesses.

But it is set to return to normal levels, in stages, over the next year, rising to 12.5% in September 2021.

The chain, which has 860 pubs, said it would "make the entire hospitality industry less competitive".

The BBC has contacted the Treasury for a comment.

"It is an important principle of taxation that taxes should be fair and equitable," Wetherspoons said, adding that its own price rises would come in from September.

"One area of undoubted unfairness, which creates economic distortions, relates to VAT. Supermarkets pay zero VAT on food, but pubs and restaurants pay 20%, in normal circumstances."

My question to Wetherspoons is this, when the VAT rates were reduced did you pass that on to your customers via reduced prices?

Tax Investigation Insurance

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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
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Monday, July 05, 2021

Blue Horseshoe Loves Morrisons

 

Apollo Global, a US investment firm is considering making a rival offer for Morrisons, days after the UK supermarket agreed to a £6.3bn ($8.7bn) takeover.

It is the third firm to show an interest in the UK chain in two months, fuelling speculation of a bidding war.

On Saturday, Morrisons accepted an offer by another US investment group led by the owner of Majestic Wine.

The takeover bid - led by US private equity firm Fortress Investment Group - is subject to shareholder approval, but the supermarket group's directors are recommending it is accepted.

Morrisons' shares are up 11% on the start of the day, and are trading at a three year high.

Tax Investigation Insurance

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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:

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  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
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Thursday, July 01, 2021

Nissan Jobs Boost for Sunderland and Port Talbot

Nissan has announced a major £1BN expansion of electric vehicle production at its car plant in Sunderland which will create 1,650 new jobs.

The Japanese carmaker says it will build its new-generation all-electric model at the site. Its partner, Envision AESC, will also build a new electric battery plant.

Production of the new model will create 909 new jobs and more than 4,500 in its UK supply chain.

Other production locations have not yet been confirmed. More details about the new vehicle will be released closer to the car's launch date.

Envision's new gigafactory will eventually provide batteries to power up to 100,000 Nissan electric vehicles a year. It will create 750 new jobs and secure 300 existing roles.

It is hoped the new plant will operational in time for 2024, when the level of UK-made components in cars manufactured in the UK is required to start increasing, in line with the terms of the UK's trade deal with the EU.

The majority of Nissan's Sunderland-assembled cars are sold in the EU.

Around half the steel used in production at NMUK (Sunderland) comes from Port Talbot, this is therefore a big boost for Welsh steel too.

Tax Investigation Insurance

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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
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Tuesday, June 29, 2021

House Price Rate Rise Highest Since 2004

Houses prices rose at the fastest pace in more than 16 years in June, jumping 13.4pc year-on-year as buyers rushed to snap up homes before the end of the stamp duty holiday. 

Nationwide said the average house price increased to £245,432 from £216,403 in June 2020.

Nationwide chief economist Robert Gardner said prices were "close to a record high" in relation to average incomes, which he added "makes it even harder" for first-time buyers.

He told the BBC the pandemic had "stimulated" the housing market.

Mr Gardner said lots of people had "reassessed what they want from home" in terms of space and where they live as a result of the coronavirus lockdowns.

"The pandemic is an unusual kind of shock - it has stimulated housing market activity rather than the shock holding back the market which is normally what happens."

Tax Investigation Insurance

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

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  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
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Thursday, June 24, 2021

Bank of England Leaves Monetary Policy Unchanged

Tax Investigation Insurance

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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
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Tuesday, June 22, 2021

Government Borrowing Falling

UK Public Sector Net Borrowing (May) act: £23.6bn, exp: £24.3bn, prev: £31bn.

Tax Investigation Insurance

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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
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Bermuda Sticks Two Fingers Up To Global Tax Reform

If it ain't broke, don't fix it!

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

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  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
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The Trans Pacific Trade Deal - Giant Oaks from Little Acorns Grow!

 

Tax Investigation Insurance

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  • Appeal to the First-tier Tribunal or Upper Tribunal
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Monday, June 21, 2021

Government To Raid Pensions

The government are drawing up plans to raid pensions, in order to pay for Covid.

Three reforms are being considered 

- Slashing the £1M lifetime allowance to £800K

- Bringing in a single tax relief rate

 - Taxing employer contributions

Nigel Green, chief executive and founder of deVere Group, warns that savers to should take action now to offset the raid.

He is quoted by London Loves Business:

“Successive governments have a long history of seeing pensions as easy targets when they need to bolster their coffers.

I would suggest that if this option of slashing the pensions lifetime allowance has been leaked in advance to the media, there’s a very good chance that it will happen.

This reported move by the Treasury would be a stinging, stealthy raid on pension savings.

It would be a slap in the face for those who have worked hard and saved hard, prudently putting money aside in order to be able to enjoy their retirement with loved ones.”

There’s a much, much bigger cohort of people who should be taking action now to mitigate the financial hit of the possible slashing of the lifetime allowance.

It’s not just those who already have a pension over £1m. Others need to look ahead and assess if future contributions and investment growth could drag them into a position in which they’ll be above the threshold.

But many savers are simply unaware of the impact of these reported moves by the Treasury on their retirement income.

There are various measures that can be put in place to avoid the LTA reduction fallout.

This move would serve as a disincentive to save as much as possible for retirement– and therefore it could be harmful to Britain’s long-term economic success,” affirms Mr Green.

I believe the reports on the potential plunder of pensions have merit. The pandemic has provided the government with a reason to do so.

Many more people than you might think would be affected by such a move.

There are steps to be taken to mitigate the hit. I would suggest people seek advice sooner rather than later.”

 Tax Investigation Insurance

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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
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The Lazarus Heist - How North Korea Almost Stole $1BN from The Bank of Bangladesh

Tax Investigation Insurance

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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
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Thursday, June 17, 2021

Interent Outages Briefly Hit Global Businesses

AP reports that a wave of brief internet outages hit the websites and apps of dozens of financial institutions, airlines and other companies across the globe Thursday.

The Hong Kong Stock Exchange said in a post on Twitter Thursday afternoon Hong Kong time that its site was facing technical issues and that it was investigating. It said in another post 17 minutes later that its websites were back to normal.

Internet monitoring websites including ThousandEyes, Downdetector.com and fing.com showed dozens of disruptions, including to U.S.-based airlines.

Many of the outages were reported by people in Australia trying to do banking, book flights and access postal services.

Australia Post, the country’s postal service, said on Twitter that an “external outage” had impacted a number of its services, and that while most services had come back online, they were continuing to monitor and investigate.

Many services were up and running after an hour or so but the affected companies said they were working overtime to prevent further problems.

Banking services were severely disrupted, with Westpac, the Commonwealth, ANZ and St George all down, along with the website of the Reserve Bank of Australia, the country’s central bank. The Reserve Bank cancelled a bond-buying operation due to technical difficulties facing several banks that were to participate.

Services have mostly been restored.

Virgin Australia said flights were largely operating as scheduled after it restored access to its website and guest contact center.

“Virgin Australia was one of many organizations to experience an outage with the Akamai content delivery system today,” it said. “We are working with them to ensure that necessary measures are taken to prevent these outages from reoccurring.”

Akamai, based in Cambridge, Massachusetts, counts some of the world’s biggest companies and banks as customers. The company said in a statement Thursday that it was aware of the issue and working to restore services as soon as possible.

The disruptions came just days after many of the world’s top websites went offline briefly due to a problem with software at Fastly, another major web services company. The company blamed the problem on a software bug that was triggered when a customer changed a setting.

Brief internet service outages are not uncommon and are only rarely the result of hacking or other mischief. But the outages have underscored how vital a small number of behind-the-scenes companies have become to running the internet.

 

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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, June 16, 2021

CPI 2.1% Blip

A jump in fuel costs and rising clothes prices as the economy reopened pushed the Consumer Prices Index (CPI) benchmark to 2.1pc, higher than the 1.8pc expected and the highest since July 2019.

The inflation up from 1.5pc in April, was also partly fuelled by rising restaurant and pub prices as diners and drinkers returned, the Office for National Statistics said.

The ONS's chief economist, Grant Fitzner, said: 

“This month’s rise was led by fuel prices which fell this time last year, but have jumped this year thanks to rising crude prices. Clothing prices also added upward pressure as the amount of discounting fell in May.”

This is but a blip, and even though it is above the Bank of England's 2pc target, it is not the precursor to higher rates yet.

Tax Investigation Insurance

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

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  • Attend any meeting with HMRC
  • Appeal to the First-tier Tribunal or Upper Tribunal
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Kopparberg, Grolsch, Nivea and IKEA Have Been Played for Suckers!

Tax Investigation Insurance

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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
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Please click here for details.

Tuesday, June 15, 2021

Australia and UK Agree Free Trade Deal


Prime Ministers Scott Morrison and Boris Johnson agreed to a post-Brexit free trade deal between Australia and the UK over dinner at Downing Street on Monday night. 

The deal is set to give Australian exporters the opportunity to move away from the Chinese market and is a victory for Johnson as he looks to set up post-Brexit relationships with new trading partners.

Tax Investigation Insurance

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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
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Please click here for details.

Monday, June 14, 2021

Markets Relaxed About Lockdown Extension

The FTSE 100 shrugged off worries about the lockdown extension, and has risen by 35 points this morning. 

The extension has already been priced in, what matters now is no reversal or a return to start/stop restrictions.

Tax Investigation Insurance

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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, June 09, 2021

Metro Bank Reduces Interest Rates From "Pathetic" To "Insulting"

Metro Bank reduces its in interest rates from "pathetic" to "insulting".

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Friday, June 04, 2021

The G7's Two Pillars of Idiocy

G7 finance ministers meet in London today.

One item on the agenda that has excited Biden is the concept of a global minimum corporation tax, to try to stop global corporations "offshoring" their profits.

In order to achieve this alleged halcyon dream, the G7 are considering a two "pillars" approach to confront the issue. 

The first is to reform the way taxes are calculated, using sales figures in each country to attempt to calculate a "fairer" apportionment of tax revenues around the world. 

The second pillar is to ensure countries stop competing in a race to the bottom on tax rates. A global minimum corporate tax rate: if everyone commits not to cut rates below a certain level that makes it far harder for companies to avoid taxes. 

Here's why these pillars are bollocks:

1 Sales are not profits, corporation tax is not a tax on turnover. 

2 Countries have the sovereign right to set their own rates of taxation, to allow a global body to set the rate undermines sovereignty and will end in tears.

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Tuesday, June 01, 2021

House Prices Rise 10.9%

UK house prices have risen by 10.9% in the year to May, the highest level in seven years, according to the Nationwide.

The average house price has risen to £242,832, up £23,930 over the past twelve months.

Nationwide are of the view that buyers are in a "race for space" as they seek larger homes and properties with gardens.

Robert Gardner, Nationwide's chief economist said:

"The market has seen a complete turnaround over the past twelve months

But activity surged towards the end of last year and into 2021, reaching a record high of 183,000 in March.

It is shifting housing preferences which is continuing to drive activity, with people reassessing their needs in the wake of the pandemic.

The majority of people are looking to move to less urban areas." 

The rise in prices will underpin the UK's economic recovery, with growth now forecast by the OECD to be 7.2%.

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Thursday, May 27, 2021

Proportion of Workforce Furloughed Falls To 8%

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Monday, May 24, 2021

HSBC Nixes Crypto Desk

HSBC’s CEO Noel Quinn has said that the bank has no plans to launch a cryptocurrency trading desk or offer the digital coins as an investment to customers.

Noel Quinn told Reuters: 

“Given the volatility we are not into Bitcoin as an asset class, if our clients want to be there then of course they are, but we are not promoting it as an asset class within our wealth management business,”

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Friday, May 21, 2021

WeWork Posts $2BN Quarterly Loss

Office-sharing startup WeWork has posted results reminiscent of the heady days of the dotcom bubble, proudly stepping up to the plate with a $2.06bn (£1.45bn) quarterly loss after being hit hard by Covid-19.

The announcement comes as WeWork prepares for its stock market debut.

The company's first attempt to go public collapsed in 2019 over concerns about its business model and co-founder Adam Neumann's leadership style.

Since Mr Neumann's exit the company has gone through a major shakeup that has seen major job cuts and businesses sold off.

The business felt the impact of the pandemic particularly hard as social distancing rules drove a surge in people working from home and concerns about infections saw workers avoiding shared office spaces.

WeWork, which is backed by Japanese tech giant SoftBank, said its first-quarter revenue almost halved from a year ago to $598m.

The BBC reports that its occupancy rate edged up to 50% in the most recent quarter, compared to 47% in the previous three months.

The company also said it expects the change in working habits to increase demand for the kind of short-term leases it offers.

In March, WeWork said it would finally see its shares start trading on the stock market, through the purchase by the publicly traded BowX Acquisition Corp.

BowX is a so-called special purpose acquisition company, a shell firm that uses proceeds from a public listing to buy a private firm.

The firm is led by the owner of the NBA's Sacramento Kings and affiliated with basketball legend Shaquille O'Neill.

The deal valued WeWork at $9bn - roughly a fifth of the its estimated worth in 2019, before its earlier flotation effort spectacularly imploded.

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Thursday, May 20, 2021

Great British Railways Launched - Trainline Tanks


 

The government have announced that a new state-owned body, Great British Railways (GBR), will set timetables and prices, sell tickets in England and manage rail infrastructure.

Transport Secretary Grant Shapps admitted the current system was "too complicated" and "fragmented".

He also promised GBR would be more accountable for delays and disruption.

Private operators will still be contracted to run most trains and the most of the planned reforms will not start coming in until 2023.

Under the reforms:

  • All tickets will be sold by GBR in the future, ending the system where passengers must buy them from multiple companies online and in stations
  • There will be a "significant rollout" of more pay as you go, contactless and digital ticketing on smartphones
  • And from next month flexible season tickets will be available for some people who commute two or three times a week.

The flexible season tickets will offer savings on certain routes for people who do not travel to work every day, reflecting the expected changes to commuting patterns after the pandemic.

They are due to go on sale on 21 June for use seven days later, and will allow passengers to travel on any eight days in a 28-day period.

GBR will replace the current track operator, Network Rail, but it probably will not be launched until 2023.

The government says the new system will look more like Transport for London, with multiple operators under one brand, offering greater accountability.

Unsurprisingly shares in Trainline tanked by 25% this morning!

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Wednesday, May 19, 2021

Inflation Rises To 1.5%

UK inflation rose from 0.7% in March to 1.5% in April.

The sharp increase largely reflected a jump in prices from low levels a year ago at the start of the pandemic, the Office for National Statistics said.

Higher oil prices also pushed up petrol prices, it added.

Gas and electricity prices rose sharply after the default tariff cap was increased compared with a cut a year earlier.

Liz Martins, senior economist at HSBC, said that it looked like UK inflation would go above the Bank of England's 2% target, although this was "not too much of a worry for the Bank".

"Their view is that they need to keep inflation sustainably around 2% two to three years out from now, so the short term overshoot won't worry them too much, if it does prove temporary - and that's where opinions really seem to diverge."

It is likely that any inflation will ease off, and there will be no need to increase rates for a couple of years.

 

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China Gives Bitcoin a Slap

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Thursday, May 13, 2021

JP Morgan Enters Junk Credit Card Market

 

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Tuesday, May 11, 2021

FTSE Falls 2%

The FTSE fell below the 7,000 threshold this morning, by over 2%, as a result of inflation fears in the USA and China.

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Thursday, May 06, 2021

Bank of England - Steady as She Goes

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Wednesday, May 05, 2021

EU Pulls Plug on China Investment Deal

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Thursday, April 29, 2021

UK's Net Worth Grew by £0.4 Trillion in 2020

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Monday, April 26, 2021

Britain's Economy To Grow at Fastest Rate Since The Second World War

Britain’s economy is forecast to grow at the fastest rate since the second world war this year after businesses adapted better to coronavirus restrictions and consumer spending booms as lockdown measures are relaxed.

The EY Item Club said it had upgraded its growth forecasts for 2021 after a stronger start to the year than expected and as rapid progress with the vaccine programme enables a swift return to relative normality.

The group said it now expected GDP to grow by 6.8% in 2021 – a significant upgrade on the 5% growth rate it had estimated in January – which would mark the fastest annual growth in national income since 1941.

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Friday, April 23, 2021

When IT Goes Bad - Post Office Scandal

Computers are fallible!

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Wednesday, April 21, 2021

Nationwide Offers 5.5 Times Salary Mortgage Multiple

First-time buyers will be able to borrow five and a half times their salary in the first mortgage deal of its kind for nearly a decade.

As from Monday next week, the Nationwide, will offer borrowers with a 10% deposit the larger limit on their loans.

Nationwide has set aside £1 billion in loans for first-time borrowers, who will be able to fix their rate for up to ten years. 

It comes as the average first-time property price increased by nearly 9 per cent in the past year, to £257,934, according to data from Halifax.

According to The Times, this means the average earner will be able to borrow an additional £30,000.

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