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News Letter – Lilac Financial

Your Conveyancing Journey

National Insurance: New Health and Social Care Tax & How Will It Affect Me?

The government has announced an extra tax to fund social care in England, and help the NHS recover after the pandemic. But there has been criticism - including from within the Conservative Party - that it will be unfair on younger people and the lower paid.     What are the new plans? Employees, employers [...]
IHT

Pandemic pushes Inheritance Tax haul to record high

The high death count due to coronavirus meant Brits paid £571m in inheritance tax (IHT) in July 2021 – the most ever paid in a single month. The total IHT paid since the start of the new tax year in April climbed to £2.1bn in July, up £500m compared to the same period last year. [...]

Holiday lets driving up rents in tourist hotspots

Landlords are choosing to let homes to tourists on a short-term basis rather than to long-term tenants, according to a tenants campaign group. Generation Rent says rents in Wales, Scotland and south west England have soared since the pandemic as landlords have switched properties to the holiday lets market. Research by the group found it [...]

Millions of young pension savers ‘are not taking enough risk’

Millions of workers under 40 are not taking enough risk when it comes to investing their pension, a study says. Written by: Joanna Faith 16/08/2021 Your money.com Research on behalf of pension platform Interactive Investor found 66 per cent of people aged between 18 and 39 – around 10 million people – have a low risk [...]

More Than 20 million Have Been Targeted By Financial Scammers

Our new research shows nearly two out of five adults have been targeted by financial scammers in the past year highlighting the need for increased advice. The nationwide study found 38% of adults – the equivalent of more than 20 million people - report a rise in financial scam attempts that they, or people they [...]

The Pros and Cons of Mortgage Holidays

The government mortgage holiday scheme is coming to an end, but your mortgage lender might still offer you a payment break if you need it The end of July sees the final closure of the government’s mortgage holiday scheme, which was introduced last March as the first national lock down and furlough started to take [...]

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