September 2022 News Archive

Chancellor Kwasi Kwarteng made his mini budget speech on Friday, 23 September 2022, which included several key tax changes. In this article we have listed some of the key changes which will affect your personal finances.

In this article we have listed some of the key tax changes which will affect your personal finances.

The Bank of England (BoE) voted to increase the base rate by 75 basis points today, pushing this figure to 2.50% and its highest level in 14 years. The decision comes after the BoE expects inflation to rise further next month.

The Bank of England (BoE) voted to increase the base rate by 75 basis points today, pushing this figure to 2.50% and its highest level in 14 years.

Almost 70% of low-income earners say they cannot afford to make any contributions to their workplace pension due to the rising cost of living. This is according to research from Legal & General Investment Management, who interviewed more than 5,000 workers across the UK private sector and classified a low-income earner as someone earning £10,000 or less a year.

Almost 70% of low-income earners say they cannot afford to make any contributions to their workplace pension due to the rising cost of living.

NatWest increased the rate on its regular savings account to 5% today, up from the 3.75% previously on offer. The Digital Regular Saver pays 5% gross (5.12% AER) on balances between a single pound and £1,000. If this is figure is exceeded, but below £5,000, then the provider will drop its rate to 0.50% AER. Any balances greater than £5,000 will revert to a 0.40% AER.

NatWest increased the rate on its regular savings account to 5% today, up from the 3.75% previously on offer.

The average purchase APR reached a record high this month, according to the Moneyfacts UK Unsecured Lending Trends Treasury Report. Currently, this average APR stands at 29.6%, a rise from the 26.6% recorded in August.

The average purchase APR reached a record high this month, according to the Moneyfacts UK Unsecured Lending Trends Treasury Report.

UK inflation rose by an annual rate of 9.9% in August, a decrease from the 10.1% recorded in the 12 months leading to July according to the Office for National Statistics (ONS).

UK inflation rose by an annual rate of 9.9% in August, a decrease from the 10.1% recorded in the 12 months leading to July according to the ONS.

The average house price has grown by 10% over the past year to August, according to Nationwide BS’s house price index. This means annual house price growth has remained in double digits for 10 consecutive months and, over the past two years, the average house has gained nearly £50,000 in value.

The average house price has grown by 10% over the past year to August, according to Nationwide BS’s house price index.

In September 2021, the government announced a change to both Dividend Tax and National Insurance contributions (NICs), which have come into immediate effect on 6 April 2022. These changes see both Dividend Tax and NICs increase by 1.25 percentage points, meaning that as an employee, company director, or business owner, your wealth will be directly affected.

In September 2021, the government announced a change to both Dividend Tax and National Insurance contributions (NICs).