Economic recovery stalls in July

The UK's economic recovery slowed down significantly in July 2021 after five months of consecutive growth with GDP increasing by just 0.1%, data from the Office for National Statistics (ONS) shows. GDP grew by 3.6% in the three months to July 2021 but remains 2.1%...

Summer saving hampers consumer spending

British people saved more over the summer compared to pre-pandemic levels, despite expectations that households would be in spend mode, suggesting the rise in COVID-19 infections held them back. In total, households saved an additional £7.1bn in July, down from the...

Advisory fuel rates update

HMRC has published the latest advisory fuel rates (AFR) for company car users, which see mileage rates increase by at least 1p for all petrol and diesel vehicles. Effective from 1 September 2021, the AFR for petrol and diesel vehicles with engines of 1400-2000cc has...

Tax perks entice more UK citizens to Portugal

A record number of Brits decided to make Portugal their permanent home in 2020, enticed by the country's low income tax rates for non-habitual residents. The number of Brits in Portugal swelled by 34% according to the country's borders and immigration service,...

Government borrowing shrinks in July 2021

Public sector net borrowing shrunk to £10.4 billion in July 2021, down from the £20.4bn borrowed this time last year, data from the Office for National Statistics (ONS) shows. The figure is still the second highest for July on record, larger by £11.4bn than the amount...