Inflation Jumps To 3% Dashing Hopes Of Interest Rate Cut
The Bank of England cut base interest rates from 4.75% to
4.5% in February, their lowest level for 18 months and raising hopes of further
cuts in 2025.
But now inflation has reared its ugly head again with an
unexpected rise to 3%, largely driven by higher government borrowing and
spending, as well as public sector pay rises.
See video version - https://youtu.be/7Sc0oL4BHdM
Mortgage holders and property buyers were hoping that the
Bank of England would continue cutting rates this year and whilst this could
still happen there is unlikely to be a further cut when the bank’s monetary
committee meets on 20 March.
Higher interest rates have a direct impact on how much you
can borrow to buy a property, as the banks apply strict affordability criteria.
However, the government has talked about easing mortgage lending to stimulate
the flagging market and help first time buyers.
Higher stamp duty does NOTHING to help people who want to
buy their own home.
End of tax year tips
As the tax year
comes to a close, now is the perfect time to review your finances and take
advantage of last-minute tax-saving opportunities.
Rachel Reeves has
talked about “simplifying” ISAs, which could mean slashing the annual allowance
for savings ISAs, currently £20,000.
See full video
episode - https://youtu.be/uXcCqWj_xfs?si=51rN_XvVb4ntWexO
Section 24 Property
Landlord Tax Hike
Interview with Chartered Accountant and property tax
specialist who reveals options and solutions to move your properties from your
own name into a limited company or LLP whilst mitigating the potential HMRC
pitfalls.
Email charles@charleskelly.net
for a free consultation on how to deal with Section 24.
Watch video now: https://youtu.be/aMuGs_ek17s
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