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Budget 2023: Lifetime pension allowance scrapped

The decision by Chancellor Jeremy Hunt to abolish the lifetime allowance on pension pots is an important one. Within a few minutes of the Chancellor sitting down after his Budget speech, we received several enquiries from clients wanting to know the implications of the announcement. The lifetime allowance limit was first introduced by Chancellor Gordon […]

Economic outlook brighter at start of 2023

We hope your 2023 has got off to a good start.  The early data suggests that the economic situation continues to look brighter than it did for much of last year. The UK inflation rate eased in December from 10.7% to 10.5% with lower prices for petrol and clothing pushing down the headline rate. While […]

Season’s Greetings from Phillip Bates & Co Financial Services

As we approach the end of 2022, we look back on what has undoubtedly been a turbulent year economically around the world. For those of us in the UK, it has also been one of the more extraordinary years politically with three different Prime Ministers. There are, however, some tentative signs that inflation may have […]

Autumn Statement: Chancellor continues message of “sensible stewardship”

Like all smart politicians, Chancellor Jeremy Hunt talked up the need for Britons to “face into the storm” ahead of presenting his Autumn Statement. But while some sections of society will have to play their part by paying more in taxes, the statement was nowhere near as painful as some commentators had been forecasting it […]

Market confidence returns after chaotic few weeks

The financial markets may be complex in many ways, but in other ways they are very simple. After a turbulent few weeks, the appointment of a new Chancellor in Jeremy Hunt and the subsequent instalment of a new Prime Minister in Rishi Sunak has given the markets the one thing they crave more than anything […]

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