The last quarter saw a high level of market volatility due to significant fluctuations in interest rate expectations. Early in the quarter, most markets rallied on hopes that inflation would quickly fall, allowing the US Federal Reserve and other central banks to pause or even reduce interest rates. Expectations of lower interest rates were...
The past two weeks have seen news flow dominated by banks on both sides of the Atlantic, which has caused both investors and depositors a sense of anxiety not experienced since the global financial crisis in 2008. On the 10th March, Silicon Valley Bank (SVB) announced it could not meet customer withdrawal demands which...
Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Click here to view the full report. Please don’t hesitate to get in touch should you have any questions. You can contact us...
UK resident Individuals selling UK residential property at a gain, where the gain is not fully covered by private residence relief, need to submit a capital gains tax on property disposal (CGT PPD) return within 60 days of completion whereas non-resident individuals need to submit this return regardless of whether the property is sold...
We are delighted to announce that PK Wealth have been shortlisted for the 2023 Wealth and Asset Management Awards. Thank you to all involved in the process. PK Wealth applied for the ‘Innovation of the Year’ award with the IHT Portfolio Service. You can find the shortlists here: https://www.moneyage.co.uk/assetmanagementawards/shortlist23.php Keep up to date with...
Tax free allowances on capital gains have been slashed, resulting in increasing CGT liabilities. With effect from 6 April 2023 the CGT annual exempt amount will fall from its present level of £12,300 to £6,000 for 2023/24 and further to £3,000 with effect from 6 April 2024. By way of an example, a client...
15th February 2023 The external environment is characterised by high inflation which manifests itself in rising fixed and variable costs including wages. Where possible, we have attempted to pass on to our clients some of the increased costs but are mindful of the price elasticity of demand for our services which constrains the amount...
HM Revenue & Customs (HMRC) have introduced a revised penalty regime for the late submission of VAT returns. The new rules apply for VAT accounting periods commencing on or after 1 January 2023 and apply to nil and repayment returns and those for which VAT is paid late. The new penalty system will replace...
PK Wealth are delighted to have had their IHT Portfolio Service referenced in the GrowthInvest Market Download. The PK Wealth IHT Portfolio Service is an innovative, active discretionary portfolio management service providing diversified, risk-rated exposure to AIM and Asset-Backed Investments. There are 5 portfolio options, each having different allocations to AIM and Asset Backed...
PK Group are delighted to announce that Adam Ryan (Head of Employee Benefits) has been appointed as a Director of PK Group. Patrick Kennedy, the CEO of PK Group declared: “Adam, congratulations on your well-earned promotion – your contribution to developing our EB business is highly appreciated and we look forward to working with...