Wealth tax fears, mortgage prisoners and a 2021 outlook - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
Why 'final salary' pensioners should really fear a wealth tax As rumours of a one-off 'wealth tax' swirl to help the government with its finances, The Telegraph warns its readers that those with sizeable defined benefit pension should be fearing the worst. The tax, thought up by a group of think tanks, proposes to make individuals with more than £500,000 assets after debt pay 1% of their net worth. Among others, the article quotes Mike Hodges, of accountancy firm Saffery Champness, who says the potential tax is "fraught with the danger of getting it wrong at the expense of people's pens...
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