The Consumer Price Index (CPI) rose by 5.4% in the 12 months to December 2021. This is the highest CPI 12-month inflation rate recorded in the National Statistical data series since it began in January 1997, and it was last higher in the historical modelled data series in March 1992, when it stood at 7.1%. …

In light of the additional pressures some individuals and business are facing due to the impacts of COVID-19, HMRC has announced that they will be waiving late filing and late payment penalties on Self Assessment tax returns for one month. Lucy Frazer, Financial Secretary to the Treasury commented: “We recognise that Omicron is putting people …

With only a few more doors to open on your advent calendar, Christmas is just around the corner! Office Hours The office will close on Christmas Eve at lunchtime, reopening again on Tuesday 4th January 2022. If you have any urgent queries over the period, please email them to enquiries@eldonfinancial.co.uk and we will ensure you …

On September 1, the Trust Registration Service (TRS) finally opened for the registration of non-taxable trusts. Previously, only trusts that have UK tax to pay had to register for the TRS but all UK express trusts, including non-taxable trusts are now required to register with HMRC, unless they are specifically excluded. Express trusts are usually created …

As announced in the Autumn budget, any capital gains tax liability arising on the sale of UK residential property will now need to be paid within 60 days of the date of completion of a sale. This became effective immediately and applies to completions taking place on or after 27th October 2021. Previously if buy-to-let …

This week, Eldon welcomed Tom Babbé as a new addition to our paraplanning team. Below is a short introduction from Tom: I graduated from Newcastle University in 2021 with a Mathematics BSc degree and joined Eldon shortly after. Having worked in Financial Services before in my hometown of Guernsey, I knew that this was something …

On Wednesday 27th October, the Chancellor, Rishi Sunak, unveiled his plans for the Autumn budget including a proposed £150 billion post-Covid spending spree by 2024/25. He admitted that inflation is set to rise on average by 4% over the next year and taxes are also set to rise. One of the biggest controversies is the …

The UK experienced rising levels of fraud throughout the coronavirus pandemic and it is estimated that more than £750m was stolen from consumers in the first six months of 2021. According to UK Finance, less than half of the money lost in these cases was refunded by banks. Scams are becoming ever more sophisticated, and …

Many savers will be aware of how low interest rates are at present and have been for several years now, with the most competitive rates on easy access savings accounts currently around 0.50% pa gross variable. On the other hand, this has meant that rates on mortgages have been historically low. Many will remember rates …

Following the announcement by Boris Johnson on 7th September, we have outlined below points for consideration: Social Care Plan A new social care tax is set to be introduced across the UK to fund reforms to the care sector and NHS off the back of the Coronavirus. The intention is to implement a 1.25 percentage …