INFLATION RISES TO YEAR HIGH

Rising energy prices have pushed the headline rate of inflation up to its highest level this year, although the increase was less than both the Bank of England (BoE) and economists had been predicting. Data from the ONS shows that the Consumer Prices Index 12-month...

May Market Update

Geopolitical tensions increased in May, as did concerns over the strength of global growth. Trade tensions intensified between the US and China, and later in the month between the US and Mexico, as President Trump announced plans to impose a 5% tariff on all Mexican...

CBI WARNING O ER NO-DEAL BREXIT

The CBI has warned potential Tory leadership candidates about the consequence of a no-deal Brexit, as the Prime Minister’s announcement of her imminent departure has effectively put the Brexit process on hold until a new leader is elected. On 24 May, Theresa May...

UK GROWTH BOOSTED BY STOCKPILING

The UK economy benefited from a sharp one-off boost to growth in the first quarter of the year as manufacturers stockpiled ahead of a Brexit that never came. Data released by the Office for National Statistics (ONS) revealed that gross domestic product (GDP) rose by...

WHO IS HIT HARDEST BY INHERITANCE TAX?

The Office of Tax Simplification has been tasked by the Chancellor to make Inheritance Tax (IHT) simpler and more streamlined, and to review the rules on gifting, pensions and property. Recommendations are due to be announced shortly. In a recent consultation, more...