In June, The Office for National Statistics (ONS) announced the Consumer Prices Index (CPI) rose by 7.9% compared to the previous year. This is down from 8.7% in May which reflects a ‘slowdown’ in the annual rate between May and June. As inflation is beginning to slow, it is expected that future increases to UK …

Individuals wishing to maximise their State Pension entitlement are able to purchase credit for missing years by making voluntary class 3 National Insurance (NI) contributions and the government is now giving people more time to make these contributions. When the ‘new’ State Pension was introduced, transitional arrangements were put in place to allow people to …

HMRC has recently highlighted that more than 800,000 taxpayers claimed tax refunds for work expenses during the 2021/22 tax year and is reminding employed workers that they can claim tax refunds on work-related expenses that are not reimbursed by their employer through the GOV.UK website. You can submit a claim through HMRC’s online portal, and …

Ofgem, the energy regulator, announced a reduction to the Energy Price Cap on Thursday, which is set to see a long-awaited drop in energy bills for millions of households across the UK. The new limit will come into effect from July, to be reviewed every quarter thereafter. The Price Cap limits the amount that suppliers …

In an effort to combat high levels of inflation, the Bank of England has increased its base rate further from 4.25% to 4.50% – the 12th consecutive increase. The base rate is now the highest it has been in almost 15 years, since October 2008 which was the height of the global financial crisis. The …

Having a spending and savings plan can help you understand what income you have, what needs to be allocated to everyday living expenses and what you can put towards future goals. With groceries, fuel and energy costs rising significantly, for many people, essential living costs now represent a large majority of take-home pay. The 50-30-20 framework …

The month of April is recognised as National Stress Awareness Month to bring attention to the negative impact of stress. Given the cost-of-living crisis present in the UK, more people may be feeling the impact of stress and anxiety. According to the charity MIND: “Stress is how we react when we feel under pressure or …

With rising interest rates, finding a suitable place for your cash savings is increasingly important. There are many things to consider when looking for the best accounts, including the interest rate, accessibility of your cash, and protection limits. Interest Rate The interest rate is one of the key factors that people focus on when looking …

On Sunday 4th June, three members of the Eldon team will be completing the highest skydive in the UK. On Monday 5th June, hopefully all three will be returning to work! From 15,000 feet, Gemma, Donna and James will each tip out of a small plane and hurtle towards the earth for 60 seconds at …

Looking back to 2022, interest rates started the year at their previous historically low levels, but as inflation was on the rise and the war in Ukraine fuelled these further, central banks around the world increased their base rates. The Bank of England base rate started the year at 0.25% and ended the year at …