Latest News

Dafferns Wealth

What is GDP and How is it Calculated?

What is GDP and How is it Calculated?

Gross Domestic Product (GDP) is a key economic indicator that measures the total monetary value of all goods and services produced within a country’s borders over a specific period, typically a quarter or a year. Every government in every country wants to drive growth in GDP, as it generates greater revenue for public spending without …

Read more

Shop Prices Down In Wet August

Shop Prices Down In Wet August

Research from the British Retail Consortium (BRC) has revealed that shop prices in August were down 0.3% from a year ago, the lowest rate since October 2021. However the drop in prices was driven by non-food goods, such as clothing and furniture, which many retailers have discounted due to the miserable summer weather and continued …

Read more

September Financial Market 2024

Market Commentary September 2024

Introduction As inflation cools and interest rates look likely to come down over time, the world is expecting a gradual return to economic normality in the second half of 2024. However, it’s never quite that straightforward. Changes in government around the world create temporary blips as we wait to see if policy will change with …

Read more

Your Tax Return

What Information Should You Collect For Your Tax Return?

For a tax return, particularly for those with complex financial affairs, having comprehensive and accurate data is crucial. Here is a list of the most important information and documents you will need: Personal Information National Insurance Number: Your unique identifier for tax and benefits purposes. Unique Taxpayer Reference (UTR): Your personal tax reference number. Personal …

Read more

Mastering The Art Of Budgeting

Mastering the Art of Budgeting

Times have been unusually tough for a lot of people in recent years. Even people with a decent income have been squeezed by inflation. For them, the process of budgeting extends beyond mere expense tracking. It’s about strategically managing resources to sustain and grow wealth, aligning spending with values, and preparing for future financial goals. …

Read more

Financial Market Commentary August 2024

Market Commentary August 2024

Introduction July 2024 was a big month for politics with the UK election decided and some major twists and turns in both the US and France. The Bank of England have cut rates, the Fed kept the rates at the same level but there is an increasing expectation that they will cut them in September. …

Read more

Pensions and Politics

Pensions and Politics

Pensions have been a big topic in UK politics for some time, nevermore so than in an election year. That’s no surprise to us given their crucial role in the financial security of millions of citizens, but not everyone is as interested and engaged in pensions as we are! Here’s a quick summary of why …

Read more

Tax Implications of Gifting

Tax Implications of Gifting

Gifting is the act of giving money (or a ‘chattel’) to someone for nothing in return. It’s common for people to do this occasionally for family members, but there are specific tax rules to remember, especially concerning inheritance tax (IHT). Here are some key points to consider: Annual Exemption: Each tax year, you can gift …

Read more