Wealth Management

“The first month of 2018 was a good one for the major stock markets which we cover in this Bulletin. We report on 12 markets and 11 of them made gains in January – in some cases, spectacular gains, which many investors would regard as more than adequate for a full year.”

The collapse of Carillion in January 2018 has already triggered disruption throughout the construction industry. Businesses subcontracted by Carillion will soon feel the effects of the liquidation of the second largest construction company in the UK, with smaller private companies likely to be hit the hardest. The domino effect of the collapse of such a massive company is unfortunately unavoidable at this stage. But what lessons could businesses learn from the fallout of Carillion’s demise?

According to the Consumer Price Index, inflation is currently at 3%. This is the highest rate for over five years, meaning household budgets are being stretched further and further as the average pay is going up by just 2.2%. As the Bank of England has just announced the first base rate rise in over a decade, the pressure is likely to be on even more as mortgage costs will go up for many people as a result. So, here are our top tips to help you ease the impact of inflation upon your income.

New research by the Open University has found that the cost of Britain’s skills shortages amounts to more than £2 billion annually due to higher salaries, temporary staffing bills and recruitment costs. The survey of 400 firms found that nine in ten respondents reported struggling to recruit workers with the correct skills within the last year. This is likely to exacerbate concerns over employers experiencing difficulties in filling key jobs, a situation many predict will be worsened after Brexit and a subsequent immigration clampdown.

A recent study by HSBC has revealed the main financial worries of the ‘millennial’ generation, recognised as those born between 1980 and 1997. As its title suggests, the ‘Future of Retirement’ survey focuses primarily on how millennials feel about how they are preparing for life after work, but also delves into the wider issues around money and modern life which are inherently linked to the subject.

A recent report has suggested that the ‘Bank of Mum and Dad’ will be lending their children over £6.5 billion this year in order to help them onto the property ladder. The projected figure is around £1.5 billion higher than the £5 billion loaned by parents to their offspring in 2016, demonstrating an increase of 30% and meaning that more than one in four property transactions in the UK in 2017 will involve parents.

The beginning of a new calendar year should serve as a timely reminder that we’re only three months away from the end of the current tax year. It might feel at the moment as though there’s plenty of time until the beginning of April, but ensuring you make use of the remaining months before they disappear is always a good idea. Here are our top four tips for ways to make the most of this tax year whilst you can.