Millions of savers will be blocked from transferring their pensions to access them at age 55 after the Treasury closed a loophole.
The Treasury‘s stamp duty haul has fallen by more than at any point in the past decade, as fears of Brexit continue to hit the struggling housing market. Stamp duty receipts from residential property fell by more than £900m in 2018-19 to £8.4bn, figures released by HM Revenue & Customs show a 10% decrease.
When it comes to saving money, many people will chose to put some aside for their children’s future. However, a Child Trust Fund set up by the Government could mean children already have up to £1,000 in the bank. Although many will save money for their children’s future, one scheme means their child could already have up to £1000 in a Child Trust Fund.
UK house prices could crash by as much as a fifth if Boris Johnson pursues a no-deal Brexit, and the biggest falls would be in London and Northern Ireland, a leading accountancy firm has said.