In the News
UK to launch first green gilt
The government is planning to launch the UK’s first green gilt in 2021 in response to “growing investor demand,” as announced by Chancellor Rishi Sunak. He said it would be the first in a series of new issuances, with the government keen to position the UK as a world-leading green finance hub ahead of the COP 26 international climate talks in Glasgow. Green gilts are a form of borrowing which help to fund low carbon infrastructure projects, tackle climate change and create ‘green jobs’.
It has been reported that more than a fifth (22%) of women have a secret savings fund to act as a financial back-up if their relationship fails1. The same research also found that 29% of women would rather share details of their dating history than talk about the state of their finances!
Nearly half (48%) of those responding to the survey said they wanted to be prepared for any eventuality, while 44% said they have always had separate savings from their partner and wanted to retain financial independence.
Claim tax relief online
From 6 April 2020, employers have been able to pay employees up to £6 a week tax-free to cover additional costs if they have had to work from home. Employees who have not received the working from home expenses payment direct from their employer can apply to receive the tax relief from HMRC via a government portal at www.gov.uk/tax-relief-for-employees/working-at-home.
Capital Gains Tax review
The Office of Tax Simplification (OTS) has published its first of two reform reports on Capital Gains Tax (CGT), which calls for CGT to be set at the same rate as Income Tax, which could raise a substantial amount of tax for the Exchequer. A lowering of the annual exemption is also recommended – the OTS estimates that the number of CGT taxpayers would double if the allowance was reduced to £5,000.
1Fidelity International, 2020
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.