The 31st January 2023 deadline for submitting Self Assessment tax returns for the 2021/22 tax year is fast approaching. For those who need to submit a return it is important to do so before this deadline so as to avoid late filing penalties. If you are unsure whether you need to complete a tax return …

With 2023 fast approaching, we’ve been reflecting on the changes that 2022 has brought to us and our clients. The year started with a challenging outlook for investment markets, exacerbated by various unexpected events throughout the year. It shows once again that short term forecasting isn’t reliable in ensuring our plans for our future are …

In response to rising inflation, the Bank of England has been increasing the Base Rate and in November 2022 this rose to 3%. As a result, savings rates have been increasing steadily, and are now at the highest levels for more than a decade. National Savings & Investments (NS&I) currently offer an interest rate of …

The new chancellor, Jeremy Hunt, revealed the Autumn Statement on the 17th November. A summary on the headline points is provided below: State Pension The Triple Lock for the State Pension is being reinstated, with State Pensions receiving the full inflationary increase of 10.1% (September 2022 CPI measure). As a result, the full flat-rate State …

People are being encouraged to take action to trace their lost pension pots, with almost three million pots worth a total of £26.6 billion not currently matched to their owners. The Pensions Policy Institute has published a briefing note which shows that the scale of lost pension pots has increased by £7 billion from 2018 …

Rising inflation has been a theme of 2022, and September’s inflation figure has now been announced, with the Consumer Price Index (CPI) at 10.1%. According to the Office for National Statistics, this has been driven by increases in the price of food despite declines in fuel prices. September’s CPI is a significant figure, as each …

On Friday 30th September, the Eldon team completed their ’20 Miles for 20 Years’ challenge, with a 20-mile hike around Ullswater Way. The purpose was to celebrate 20 years of the firm’s existence, with the funds raised being directed into our Charitable Fund with the County Durham Community Foundation (the Foundation). Funds will then be …

New Chancellor, Kwasi Kwarteng, announced a sweeping package of tax cuts in his mini-budget last week – the biggest the UK has seen in the last half-century. Below we have outlined the main measures. Basic rate income tax is set to reduce from 20% to 19% from 6th April 2023. This is the first cut …

As a mark of respect for Queen Elizabeth II, we will be closing our office on Monday 19th September for the funeral. We will reopen at 9am on Tuesday 20th September

We are saddened by the passing of Her Majesty The Queen who was a much loved and respected figure across the globe. She was inspirational and lived a life dedicated to public service. Our thoughts are with the Royal Family at this difficult time. Once further details of the state funeral have been announced, we …