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What the recent Growth Plan and Government U-turns mean for you and your finances

Now that the dust has started to settle, what do the recent announcements, and U-turns, mean for you and your finances? What is still happening The National Insurance contribution rate will fall from 6 November 2022. In April 2022, the National Insurance contribution (NIC) rate increased by 1.25 percentage points to pay for additional health [...]

Pension lifetime allowance – how it affects you

In his 2021 Budget, the Chancellor announced a five-year freeze on the lifetime pension allowance. What does this mean for you and your retirement fund? What is the lifetime pension allowance? The lifetime pension allowance sets a limit on how much you can save in your pension before you start paying tax on anything over [...]

NEWSLETTER

What does the base-rate increase mean for you?

What does the base-rate increase mean for you? In a bid to tackle rising inflation, the Bank of England has increased the base rate for the seventh time since December 2021. The 0.5% hike takes the interest rate to 2.25% - the highest since November 2008, when the banking system faced collapse. So, what does [...]

Energy costs statement

After a prolonged period of speculation, the new Prime Minister Liz Truss has announced preliminary details of how the government plans to deal with the energy price crisis. In late May this year, the then Chancellor, Rishi Sunak, announced a range of measures to reduce the impact of the anticipated October 2022 Ofgem utility price [...]

NEWSLETTER

Newsletter -August

Buy-to-let mortgages – what you need to know

WRITTEN BY ISSY MINTURN01ST      JULY 2022 Buy-to-let mortgages – what you need to know Pete has just inherited £35,000 from his grandma and he’s thinking about investing in a buy-to-let property but has no idea where to start. So, what are the key things Pete needs to know? Is the buy-to-let market a [...]

LILAC Corporate Brochure 2022

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