{"id":1355,"date":"2021-10-21T10:22:39","date_gmt":"2021-10-21T09:22:39","guid":{"rendered":"https:\/\/broadstreetwealth.co.uk\/?p=1355"},"modified":"2021-11-02T10:38:23","modified_gmt":"2021-11-02T10:38:23","slug":"broadstreet-bulletin-issue-1","status":"publish","type":"post","link":"https:\/\/broadstreetwealth.co.uk\/broadstreet-bulletin-issue-1\/","title":{"rendered":"Broadstreet bulletin &#8211; Issue 1"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1355\" class=\"elementor elementor-1355\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-f2799b4 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f2799b4\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-8d38fd5\" data-id=\"8d38fd5\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-91e470f elementor-widget elementor-widget-raven-post-meta\" data-id=\"91e470f\" data-element_type=\"widget\" data-widget_type=\"raven-post-meta.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<ul class=\"raven-icon-list-items raven-post-meta\">\n\t\t\t\t\t<li class=\"raven-icon-list-item elementor-repeater-item-1f7de9d\" itemprop=\"author\">\n\t\t\t\t\t\t<a href=\"https:\/\/broadstreetwealth.co.uk\/author\/stave\/\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"raven-icon-list-icon\">\n\t\t\t\t\t\t\t<img decoding=\"async\" class=\"raven-avatar\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Studio-Session-149-96x96.jpg\" alt=\"Steve Walker\">\n\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<span class=\"raven-icon-list-text raven-post-meta-item raven-post-meta-item-type-author\">\n\t\t\t\t\t\t\t\t\t\tSteve Walker\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<\/a>\n\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3e9d865 elementor-widget elementor-widget-heading\" data-id=\"3e9d865\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Posted on\n<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e5d7416 elementor-widget elementor-widget-heading\" data-id=\"e5d7416\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">21st October, 2021<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4bb2b2f elementor-widget elementor-widget-heading\" data-id=\"4bb2b2f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Categories\n<\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bb482cb elementor-widget elementor-widget-heading\" data-id=\"bb482cb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<span class=\"elementor-heading-title elementor-size-default\"><a href=\"https:\/\/broadstreetwealth.co.uk\/category\/broadstreet-bulletin\/\" rel=\"tag\">Broadstreet Bulletin<\/a>, <a href=\"https:\/\/broadstreetwealth.co.uk\/category\/news\/\" rel=\"tag\">News<\/a><\/span>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8bca781 elementor-toc--minimized-on-tablet elementor-widget elementor-widget-table-of-contents\" data-id=\"8bca781\" data-element_type=\"widget\" data-settings=\"{&quot;headings_by_tags&quot;:[&quot;h2&quot;,&quot;h3&quot;,&quot;h4&quot;],&quot;exclude_headings_by_selector&quot;:[],&quot;marker_view&quot;:&quot;numbers&quot;,&quot;minimize_box&quot;:&quot;yes&quot;,&quot;minimized_on&quot;:&quot;tablet&quot;,&quot;hierarchical_view&quot;:&quot;yes&quot;,&quot;min_height&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;min_height_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\" data-widget_type=\"table-of-contents.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-toc__header\">\n\t\t\t<h4 class=\"elementor-toc__header-title\">Table of Contents<\/h4>\t\t\t\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--expand\"><i class=\"fas fa-chevron-down\"><\/i><\/div>\n\t\t\t\t<div class=\"elementor-toc__toggle-button elementor-toc__toggle-button--collapse\"><i class=\"fas fa-chevron-up\"><\/i><\/div>\n\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-toc__body\">\n\t\t\t<div class=\"elementor-toc__spinner-container\">\n\t\t\t\t<i class=\"elementor-toc__spinner eicon-animation-spin eicon-loading\" aria-hidden=\"true\"><\/i>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-63a21c7\" data-id=\"63a21c7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ce369ea elementor-widget elementor-widget-heading\" data-id=\"ce369ea\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Broadstreet bulletin &#8211; Issue 1<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9364c42 elementor-widget elementor-widget-heading\" data-id=\"9364c42\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The return of inflation? <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9363aae elementor-widget elementor-widget-text-editor\" data-id=\"9363aae\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In September 2020, annual inflation in the UK was running at 0.5% on the CPI measure and 1.1% using the old RPI yardstick. At the time price rises were the least of the economic concerns. Wind forward 12 months and inflation has become a hot topic. The latest (August) figures are 3.2% CPI and 4.8% RPI. The increase was the highest monthly CPI rise ever recorded by the Office for National Statistics (ONS) and brings the inflation rate to the level last seen in March 2012. As the graph shows, 2021 has seen something of an inflationary renaissance.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a5727fd elementor-widget elementor-widget-heading\" data-id=\"a5727fd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">RPI and CPI 2010 onwards<\/h3>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-137596b elementor-widget elementor-widget-image\" data-id=\"137596b\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"503\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.28.01-1024x503.png\" class=\"attachment-large size-large\" alt=\"The return of inflation?\" srcset=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.28.01-1024x503.png 1024w, https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.28.01-300x147.png 300w, https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.28.01-768x377.png 768w, https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.28.01.png 1151w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f21836e elementor-widget elementor-widget-heading\" data-id=\"f21836e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h6 class=\"elementor-heading-title elementor-size-default\">Source: ONS<\/h6>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-703aa63 elementor-widget elementor-widget-heading\" data-id=\"703aa63\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Not only here\u2026<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4143002 elementor-widget elementor-widget-text-editor\" data-id=\"4143002\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Inflation was once known as the \u2018British disease\u2019, reflecting the problems of the 1970s when annual price increases topped 20%. This time around, the UK is not alone in experiencing a jump in prices. Across the Atlantic, the USA has seen inflation leap from 1.4% last September to a 13-year high of 5.4% in June and July 2021, before easing to 5.3% in August.<\/p><p>The Eurozone, which has long struggled to meet its inflation target, has joined in too: prices were falling by 0.3% a year in September 2020, whilst in August 2021 they were rising at 3% &#8211; the highest since November 2011 and well above the European Central Bank\u2019s new central target of 2%.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f432c1a elementor-widget elementor-widget-heading\" data-id=\"f432c1a\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">\u2018Transitory\u2019, say the central bankers\u2026<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ddf12ac elementor-widget elementor-widget-text-editor\" data-id=\"ddf12ac\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The favourite word used by central bankers to describe the uptick in inflation is \u2018transitory\u2019. There is a case to be made for that view:<\/p><ul><li>Annual inflation is a measure of current prices against those a year ago. Think back twelve months and there are some prices that were driven down by the pandemic, which cut or even eliminated demand. Look across two years and the price of an item might have changed little, but the movement during the period could be V-shaped, with the last 12 months\u2019 sharp bounce back. \u2018Base effects\u2019 is the economists\u2019 term for this statistical quirk. Another year and they could automatically disappear.<br \/><br \/><\/li><li>The pandemic has also created supply chain issues which have driven up prices as demand recovered. A good example has been the supply of computer chips used in car production. One vehicle may need up to 1,500 chips and these have been in short supply, with a knock-on effect for car production. In the absence of sufficient new vehicles, second-hand car prices have jumped \u2013 by over 18% in the year to August in the UK. Once more, the argument is in another 12 months\u2019 supply chains will have re-established and the problem will have disappeared<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a5c29f elementor-widget elementor-widget-heading\" data-id=\"3a5c29f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">\u2026But are they right?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-52f70e6 elementor-widget elementor-widget-text-editor\" data-id=\"52f70e6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The argument against the central bankers\u2019 optimism is partly that \u2018they-would-say-that-wouldn\u2019t-they?\u2019 If they thought that the spike in inflation was more than a blip, then the central bankers would need to reverse their current policies of keeping interest rates around zero and buying large quantities of their Governments\u2019 bonds. Such a change would have serious consequences for the Governments concerned, all of which have borrowed heavily in response to the pandemic and can ill-afford a higher interest bill.<\/p><p>The worry is that price inflation is already starting to work through into wage increases, although there are distortions here too \u2013 in July, average pay in the UK was up 8.3% year on year. Wage rises could then lead to further price rises and so the spiral begins\u2026<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-675a508 elementor-widget elementor-widget-heading\" data-id=\"675a508\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Why inflation matters<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d9a106a elementor-widget elementor-widget-text-editor\" data-id=\"d9a106a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>For the last 20 years to the end of 2020, CPI inflation averaged 2.1% and RPI inflation 2.9%. That has been close enough to the Bank of England\u2019s target to be of no concern. An inflation rate of 4-5% would start to have a serious impact on investment and financial planning. At 5%, purchasing power halves over 14 years, whereas at 2% the same erosion takes place across 35 years.\u00a0<\/p><p>Higher inflation would probably also mean higher interest rates. That could drive down the value of many investments, simply because the higher the interest rate, the lower the discounted value of future investment income.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f3aa23e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f3aa23e\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-b0d5fe9\" data-id=\"b0d5fe9\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d2e99d2 elementor-widget elementor-widget-image\" data-id=\"d2e99d2\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"652\" height=\"621\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2020\/05\/logo-fav.svg\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-e26bbb3\" data-id=\"e26bbb3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7cada8b elementor-widget elementor-widget-text-editor\" data-id=\"7cada8b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>As far as possible, your financial planning \u2013 from basic life cover to portfolio investment \u2013 should take account of inflation. Recent decades of low inflation have reduced the cost of ignoring this principle, but it may prove an expensive error going forward \u2013 do you want your retirement living standards to halve every 14 years..?<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d137b4 elementor-widget elementor-widget-button\" data-id=\"6d137b4\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a href=\"https:\/\/broadstreetwealth.co.uk\/contact\/\" class=\"elementor-button-link elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Talk to us about how well your current plans would cope with higher inflation and what actions you can take to build in the necessary protection.<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-78d6ed7 elementor-widget elementor-widget-raven-divider\" data-id=\"78d6ed7\" data-element_type=\"widget\" data-widget_type=\"raven-divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"raven-widget-wrapper\">\n\t\t\t<div class=\"raven-divider\">\n\t\t\t\t<span class=\"raven-divider-line raven-divider-solid\"><\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-756f0bb elementor-widget elementor-widget-heading\" data-id=\"756f0bb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The return of inflation? <\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-03a3545 elementor-widget elementor-widget-text-editor\" data-id=\"03a3545\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The UK tax system is notorious for its complexity. Every year seems to get worse, with a fresh Finance Act adding a few hundred more pages of legislation \u2013 this year\u2019s Act ran to 417 pages. One of the more bizarre aspects of our tax system is the tax year 6 April starting date for individuals, rather than a more logical date such as 1 January (chosen by many countries) or even 1 April.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-db3fbf4 elementor-widget elementor-widget-heading\" data-id=\"db3fbf4\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Blame history<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0c7af1a elementor-widget elementor-widget-text-editor\" data-id=\"0c7af1a\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>That 6 April date has its roots in England\u2019s distant past. It began life as 25 March (Lady Day), which was New Year\u2019s Day in England from the middle of the 12th century. The introduction of the Gregorian calendar in 1752 and an anomalous leap year in 1800 resulted in an extra 12 days being added, to arrive at the current 6 April date. Both additions were driven by Governments anxious to keep 365 days of revenue in one tax year.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7df3edb elementor-widget elementor-widget-heading\" data-id=\"7df3edb\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">The Office of Tax Simplification reviews a revision<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c15027c elementor-widget elementor-widget-text-editor\" data-id=\"c15027c\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In June, the Office of Tax Simplification (OTS) announced that it would be undertaking \u2018a high-level exploration and analysis of the benefits, costs and wider implications of a change in the date of the end of the UK tax year for individuals\u2019. Somewhat disappointingly, the OTS said its focus would be on moving the end of the tax year to 31 March, which would align it with the Government\u2019s own financial year and the corporation tax year.<\/p><p>However, the OTS did also promise to \u2018outline the main additional broader issues\u2019 of a move to align the tax year with the calendar year. Interestingly, just such a change was undertaken by Ireland in 2002, when it had a shortened tax year running from 6 April 2002 to 31 December 2002.<\/p><p>When the OTS published its review on 15 September, unsurprisingly, it confirmed that a clear majority of those responding thought that the UK should adopt a different year end. Alas, their wish will not be granted, at least in the short term. The OTS recommended that any change should wait until after major HMRC projects have been completed, such as the Single Customer Account and Making Tax Digital (MTD) for income tax.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1ba7ef8 elementor-widget elementor-widget-heading\" data-id=\"1ba7ef8\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">HMRC has its own ideas<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fa54e08 elementor-widget elementor-widget-text-editor\" data-id=\"fa54e08\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In the month after the OTS\u2019s June review announcement, HMRC weighed in with a consultation paper on another aspect of the tax calendar; the taxation of the self-employed, including partnerships. HMRC\u2019s proposals revolved around that key 6 April date and made no mention of the OTS work.<\/p><p>Currently, the \u2018basis year\u2019 approach means that the self-employed generally pay tax on the profits earned in their trading year ending in the tax year. The choice of trading year is down to the individual or partnership. So, for example, if you have a trading year that runs from 1 May to the following 30 April, in the 2021\/22 tax year, you will be taxed on the profits earned in your trading year 1 May 2020 to 30 April 2021.<\/p><p>HMRC wants to change the basis year method to mean that the self-employed are taxed on what they earn during a tax year. The consultation paper says this is necessary as part of its MTD for income tax programme and would take effect from 6 April 2023. Such a reform would have two important consequences:<\/p><ul><li>From 2023\/24 onwards, to arrive at profit figures for the tax return, it would be necessary to pro-rata profits from two trading years. Taking that 30 April year end again, in 2023\/24, tax would be calculated by apportioning profits in the trading years to 30 April 2023 (25 days\u2019 worth) and to 30 April 2024 (341 days\u2019 worth). Anyone with a trading period ending late in the tax year, e.g. 31 December, could be forced to give an estimate if their accounts are not ready by the 31 January return filing date. An adjustment would then need to be made once accurate figures became available.<br \/><br \/><\/li><li>2022\/23 \u2013 next tax year \u2013 would be a transitional year in which all profits to 5 April 2023 not previously taxed would be taken into account. The result could be nearly two years\u2019 profits taxable in a single tax year. For that 30 April year end, in 2022\/23 the taxable profits would be from 1 May 2021 to 5 April 2023 \u2013 over 23 months\u2019 worth \u2013 again calculated on an apportionment basis across two sets of accounts. HMRC acknowledges the impact this would have on personal tax bills and suggests \u2018excess profits\u2019 could be spread over five tax years.<\/li><\/ul><p>The HMRC proposals have received predictably wide criticism, with many tax professionals saying they are being forced through far too quickly \u2013 even the consultation period was halved to six weeks, most of which fell in August. Others have suggested the idea was just another example of the Treasury\u2019s familiar money-raising ruse of accelerating tax payments.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7137343 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7137343\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-57af1b3\" data-id=\"57af1b3\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-fcd88fb elementor-widget elementor-widget-image\" data-id=\"fcd88fb\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"652\" height=\"621\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2020\/05\/logo-fav.svg\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-d8b6b0e\" data-id=\"d8b6b0e\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c28e6dc elementor-widget elementor-widget-text-editor\" data-id=\"c28e6dc\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>If you have the sense that any real reduction in the complexity of the UK tax system is as distant as ever, you are probably correct. With Government borrowing at record levels, any \u2018simplification\u2019 that does eventually emerge from the current proposals is likely to hide higher and\/or faster tax payments. Guidance on tax planning will continue to be vital.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-b1f7b64 elementor-widget elementor-widget-button\" data-id=\"b1f7b64\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a href=\"https:\/\/broadstreetwealth.co.uk\/contact\/\" class=\"elementor-button-link elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Coming back from future tax plans to the current day, do not forget that 5 October is the deadline for informing HMRC of new sources of taxable income in 2020\/21 and 31 October is the latest date for filing a paper 2020\/21 tax return (31 January applies to online filing only).<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5999eb0 elementor-widget elementor-widget-raven-divider\" data-id=\"5999eb0\" data-element_type=\"widget\" data-widget_type=\"raven-divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"raven-widget-wrapper\">\n\t\t\t<div class=\"raven-divider\">\n\t\t\t\t<span class=\"raven-divider-line raven-divider-solid\"><\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d254517 elementor-widget elementor-widget-heading\" data-id=\"d254517\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Pensions lifetime allowance<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-38a0af6 elementor-widget elementor-widget-image\" data-id=\"38a0af6\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1024\" height=\"491\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.53.48-1024x491.png\" class=\"attachment-large size-large\" alt=\"Pensions lifetime allowance\" srcset=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.53.48-1024x491.png 1024w, https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.53.48-300x144.png 300w, https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.53.48-768x369.png 768w, https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2021\/10\/Screenshot-2021-10-21-at-11.53.48.png 1246w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7e76453 elementor-widget elementor-widget-text-editor\" data-id=\"7e76453\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>One of the subtle tax increases introduced in the March 2021 Budget was a freezing of the pensions lifetime allowance until April 2026 at its 2020\/21 level of \u00a31.0731m. Like any freezing of an allowance, it is designed to produce extra tax as inflation and\/or economic growth drag more taxpayers over the fixed threshold.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e5afd05 elementor-widget elementor-widget-heading\" data-id=\"e5afd05\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">What is the relevance of the lifetime allowance?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5313672 elementor-widget elementor-widget-text-editor\" data-id=\"5313672\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The lifetime allowance sets a ceiling on the value of pension benefits, above which:<\/p><ul><li>A 25% tax charge applies if benefits are drawn as income; or\u00a0\u00a0<br \/><br \/><\/li><li>A 55% tax charge applies on lump sum benefits.<\/li><\/ul><p>The standard lifetime allowance was introduced in 2006 at a level of \u00a31.5m and gradually increased to \u00a31.8m four years later. Thereafter the value has either been frozen, cut, or, more recently, increased in line with inflation (prices, not the more logical earnings).<\/p><p>The Treasury\u2019s interventions since 2010 have been designed to constrain pension savings and thereby reduce the tax relief it has to grant on contributions. It is a moot point whether the lifetime allowance itself was meant to produce tax via those two tax charges. Like much anti-avoidance legislation, the intention behind the lifetime allowance tax charge was to discourage action that could trigger a tax bill.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d740f7 elementor-widget elementor-widget-heading\" data-id=\"9d740f7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Growing more relevant<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-490a070 elementor-widget elementor-widget-text-editor\" data-id=\"490a070\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>As the graph above illustrates, the number of people being caught by the lifetime allowance has increased sharply in recent years. The latest data, for 2018\/19, shows an average tax charge of nearly \u00a340,000. The lifetime allowance freeze is set to increase both those falling foul of the lifetime allowance tax charge and the average amount they pay.<\/p>\n<p>In some instances, the lifetime allowance is unavoidable or worth accepting. For example:<\/p>\n<ul>\n<li>If your employer will not offer a financial alternative to pension contributions, the choice is between a benefit net of the lifetime allowance charge (maximum 55% tax) or no benefit (effectively 100% tax).\n<\/li>\n<li>You may have a pension pot well under the lifetime allowance shortly before drawing benefits and then find a sudden spurt of investment growth pushes the pot\u2019s value over the allowance. For example, a fund worth \u00a3900,000 on 25 August 2020 would have grown to \u00a31,135,890 a year later, if it had moved in line with the FTSE All-Share Index.\n<\/li>\n<li>In some cases, the lifetime allowance charge may be worth accepting as it is less than the combined value of income tax and employer national insurance (NIC) relief on an employer pension contribution.<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7ec909a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ec909a\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-242c638\" data-id=\"242c638\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-abdd13e elementor-widget elementor-widget-image\" data-id=\"abdd13e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"652\" height=\"621\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2020\/05\/logo-fav.svg\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-f22cb17\" data-id=\"f22cb17\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4499c56 elementor-widget elementor-widget-text-editor\" data-id=\"4499c56\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>There have been rumours that the next Budget will see the lifetime allowance cut again, perhaps to as little as \u00a3800,000.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-799c9da elementor-widget elementor-widget-button\" data-id=\"799c9da\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a href=\"https:\/\/broadstreetwealth.co.uk\/contact\/\" class=\"elementor-button-link elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">There are a variety of transitional protections which apply to the lifetime allowance that can be easily lost. How you draw your benefits can also help reduce or defer the impact of the allowance. If the value of your pension pot is, or could be, in striking range of the lifetime allowance, make sure you seek advice before taking any action, whether that be drawing benefits or making contributions.<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-21d7795 elementor-widget elementor-widget-raven-divider\" data-id=\"21d7795\" data-element_type=\"widget\" data-widget_type=\"raven-divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"raven-widget-wrapper\">\n\t\t\t<div class=\"raven-divider\">\n\t\t\t\t<span class=\"raven-divider-line raven-divider-solid\"><\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ab5c934 elementor-widget elementor-widget-heading\" data-id=\"ab5c934\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">7 September non-Budget<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4d941bf elementor-widget elementor-widget-heading\" data-id=\"4d941bf\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Major tax and social care changes<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d54b4a1 elementor-widget elementor-widget-text-editor\" data-id=\"d54b4a1\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>In early September a triumvirate of the Prime Minister, Chancellor and Health Secretary presented the Government\u2019s long-awaited plans for the reform of social care in England (the devolved nations each have their own framework). The statement from the Chancellor alone contained large enough tax changes to have constituted a Budget in quieter times.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-13b1c69 elementor-widget elementor-widget-heading\" data-id=\"13b1c69\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Funding of social care: the non-tax costs<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7d55cf6 elementor-widget elementor-widget-text-editor\" data-id=\"7d55cf6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The proposed changes would mean that if you enter residential care in England from October 2023 onwards:<\/p><ul><li>If you have assets above \u00a3100,000, you will still have to pay full care costs. If you are single, your main home will be included as an asset, but if you have a partner or dependent living in the property, its value will normally be ignored. The current capital ceiling is just \u00a323,250 and this will continue to apply for anyone entering care before October 2023.<br \/><br \/><\/li><li>There will be a new lifetime cap of \u00a386,000 on the amount that you will need to spend on personal care costs. The costs of your accommodation and food \u2013 so-called hotel costs \u2013 will fall outside the new cap.<br \/><br \/><\/li><li>If you have assets below \u00a320,000 (current ceiling \u00a314,250), you will not be required to use your savings (or the value of your home) for care costs, but you may need to make a contribution from your income.<br \/><br \/><\/li><li>If you have assets in the \u00a320,000-\u00a3100,000 range, you will be expected to make a contribution from your income. In this instance income includes \u2018tariff income\u2019, which is notional income from capital above \u00a320,000. The proposals say this will be \u2018no more than 20%\u2019 (currently 20.8%). For example, if you had capital of \u00a380,000 your \u2018tariff income\u2019 would be deemed to be \u00a312,000 a year, all of which could go towards meeting your care costs.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e6c0c4d elementor-widget elementor-widget-heading\" data-id=\"e6c0c4d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Funding of social care: the tax costs<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff7efa7 elementor-widget elementor-widget-text-editor\" data-id=\"ff7efa7\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>To finance the higher capital means-testing limits and the \u00a386,000 cap, the Government announced the introduction of increased NICs under the guise of a new Health and Social Care Levy (HSCL):<\/p><ul><li>In the next tax year (2022\/23) the HSCL will be applied as a 1.25% increase in Class 1 (both employer and employee) and Class 4 main and higher rates of NICs.<br \/><br \/><\/li><li>From 2023\/24, NIC rates will return to their 2021\/22 level and the HSCL will become a separate 1.25% charge applied to all employed and self-employed earnings. However, unlike NICs, from 2023\/24 the HICL will be paid on the earnings of employees and the self-employed above state pension age (SPA &#8211; currently 66). At present only employers pay NICs on employees beyond SPA.<\/li><\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a4cf282 elementor-widget elementor-widget-heading\" data-id=\"a4cf282\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">NICs \u2013 before and after<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-aa12abb uael-border-yes elementor-widget elementor-widget-uael-table\" data-id=\"aa12abb\" data-element_type=\"widget\" data-widget_type=\"uael-table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div itemscope class=\"uael-table-wrapper\" itemtype=\"http:\/\/schema.org\/Table\">\n\t\t<table id=\"uael-table-id-aa12abb\" class=\"uael-text-break uael-column-rules uael-table\" data-sort-table=\"no\" data-show-entry=\"no\" data-searchable=\"no\" data-responsive=\"yes\">\n\t\t\t\t<thead>\n\t\t\t\t\t\t\t\t\t\t<tr class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"0\" class=\"sort-this elementor-repeater-item-4c45614 uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Tax year<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"1\" class=\"sort-this elementor-repeater-item-9d0f821 uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Employee Main\/Higher<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"2\" class=\"sort-this elementor-repeater-item-1e527b9 uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Employer<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"3\" class=\"sort-this elementor-repeater-item-117955b uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Self-employed Main\/Higher<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t<\/thead>\n\t\t\t\t<tbody>\n\t\t\t<!-- ROWS -->\n\t\t\t\t\t\t\t\t\t\t<tr data-entry=\"1\" class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-239fd48\" data-title=\"Tax year\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">2021\/22: NICs<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-9831778\" data-title=\"Employee Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">12%\/2%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-7841fd8\" data-title=\"Employer\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">13.8%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-42c2888\" data-title=\"Self-employed Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">9%\/2%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr><tr data-entry=\"2\" class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-d64fd8f\" data-title=\"Tax year\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">2022\/23: NICs<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-1457382\" data-title=\"Employee Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">13.25%\/3.25%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-d077c02\" data-title=\"Employer\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">15.05%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-f80d1b5\" data-title=\"Self-employed Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">10.25%\/3.25%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr><tr data-entry=\"3\" class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-e30e82b\" data-title=\"Tax year\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">2023\/24: NICs<br>\nHSCL<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-29c6914\" data-title=\"Employee Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">12%\/2%<br>\n1.25%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-4ed6cb0\" data-title=\"Employer\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">13.8%<br>\n1.25%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-b1b845e\" data-title=\"Self-employed Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">9%\/2%<br>\n1.25%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr><tr data-entry=\"4\" class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-bd89680\" data-title=\"Tax year\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Threshold (2021\/22)<br>\nMain:<br>\nHigher:<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-91ace53\" data-title=\"Employee Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\"><br>\n\u00a39,568<br>\n\u00a350,270<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-fe95c9b\" data-title=\"Employer\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\"><br>\n\u00a38,840<br>\nN\/A<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-10f39cf\" data-title=\"Self-employed Main\/Higher\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\"><br>\n\u00a39,568<br>\n\u00a350,270<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t<\/tbody>\n\t<\/table>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d54fe04 elementor-widget elementor-widget-text-editor\" data-id=\"d54fe04\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>From April 2022, tax on dividends will also increase by 1.25%, as shown in the table below:<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e640b2e elementor-widget elementor-widget-heading\" data-id=\"e640b2e\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Dividend tax \u2013 before and after<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-35cd8a1 uael-border-yes elementor-widget elementor-widget-uael-table\" data-id=\"35cd8a1\" data-element_type=\"widget\" data-widget_type=\"uael-table.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div itemscope class=\"uael-table-wrapper\" itemtype=\"http:\/\/schema.org\/Table\">\n\t\t<table id=\"uael-table-id-35cd8a1\" class=\"uael-text-break uael-column-rules uael-table\" data-sort-table=\"no\" data-show-entry=\"no\" data-searchable=\"no\" data-responsive=\"yes\">\n\t\t\t\t<thead>\n\t\t\t\t\t\t\t\t\t\t<tr class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"0\" class=\"sort-this elementor-repeater-item-4c45614 uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Tax year<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"1\" class=\"sort-this elementor-repeater-item-9d0f821 uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Basic rate<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"2\" class=\"sort-this elementor-repeater-item-1e527b9 uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Higher rate<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t\t\t\t\t<th data-sort=\"3\" class=\"sort-this elementor-repeater-item-117955b uael-table-col uael-table-head-cell-text\" scope=\"col\">\n\t\t\t\t\t\t\t<span class=\"sort-style\">\n\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">Additional rate<\/span>\n\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t<\/th>\n\t\t\t\t\t\t\t\t<\/thead>\n\t\t\t\t<tbody>\n\t\t\t<!-- ROWS -->\n\t\t\t\t\t\t\t\t\t\t<tr data-entry=\"1\" class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-239fd48\" data-title=\"Tax year\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">2021\/22<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-9831778\" data-title=\"Basic rate\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">7.5%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-7841fd8\" data-title=\"Higher rate\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">32.5%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-42c2888\" data-title=\"Additional rate\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">38.1%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/tr><tr data-entry=\"2\" class=\"uael-table-row\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-d64fd8f\" data-title=\"Tax year\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">2022\/23 onwards<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-1457382\" data-title=\"Basic rate\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">8.75% <\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-d077c02\" data-title=\"Higher rate\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">33.75% <\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<td class=\"uael-table-col uael-table-body-cell-text elementor-repeater-item-f80d1b5\" data-title=\"Additional rate\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"uael-table__text-inner\">39.35%<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/td>\n\t\t\t\t\t\t\t\t\t<\/tbody>\n\t<\/table>\n\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b622b7 elementor-widget elementor-widget-heading\" data-id=\"3b622b7\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Funding of social care: the state pension cost<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ad8902b elementor-widget elementor-widget-text-editor\" data-id=\"ad8902b\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>While the focus was on the social care announcement, the Department of Work and Pensions (DWP) revealed that it would suspend the operation of the State Pension Triple Lock for the coming year only. Instead, there will be a Double Lock, meaning the basic and new State Pension will increase by the greater of:<\/p><ul><li>2.5%; and<br \/><br \/><\/li><li>CPI inflation to September 2021<\/li><\/ul><p>The DWP estimated that the switch to a Double Lock will \u2018\u2026mean a difference of around \u00a34 or 5 billion in basic and new State Pensions expenditure in 2022\/23\u2019, which compares with the \u00a312bn generated by the NIC and dividend tax changes. The Double Lock saving is not a one-off but an annual reduction in expenditure, as all future State Pension increases will be from a lower base than would otherwise have been the case.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-01f523d elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"01f523d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-49f45dd\" data-id=\"49f45dd\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-b99643e elementor-widget elementor-widget-image\" data-id=\"b99643e\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"652\" height=\"621\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2020\/05\/logo-fav.svg\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-091a97f\" data-id=\"091a97f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4e48e3f elementor-widget elementor-widget-text-editor\" data-id=\"4e48e3f\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The increases to NICs and dividends represent a major reform to the tax system and will have important consequences, particularly if you are a company owner-director or self-employed. In practice, the changes to social care funding \u2013 two years away, do not forget \u2013 could still leave you facing potentially large costs to meet. The Government\u2019s own example suggests it is only those who stay in a care home over three years and four months who stand to benefit from the cap.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-8831b1e elementor-widget elementor-widget-button\" data-id=\"8831b1e\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a href=\"https:\/\/broadstreetwealth.co.uk\/contact\/\" class=\"elementor-button-link elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">If you think any of September\u2019s proposals could affect you, talk to us now about their impact and what changes you may need to make to your financial planning.<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5e824a2 elementor-widget elementor-widget-raven-divider\" data-id=\"5e824a2\" data-element_type=\"widget\" data-widget_type=\"raven-divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"raven-widget-wrapper\">\n\t\t\t<div class=\"raven-divider\">\n\t\t\t\t<span class=\"raven-divider-line raven-divider-solid\"><\/span>\n\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fda1dcd elementor-widget elementor-widget-heading\" data-id=\"fda1dcd\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">27 October real Budget<\/h2>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a30a044 elementor-widget elementor-widget-text-editor\" data-id=\"a30a044\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The Budget cycle has been thoroughly disrupted over the past five years. It all started when Phillip Hammond (two Chancellors ago) announced in November 2016 that he would be reverting to an Autumn Budget from the following year, but would nevertheless have a Spring 2017 Budget. After two Budgets in 2017, there was one Autumn Budget in 2018, but then 2019 had no Budgets because of the impending election. 2020 started with a Spring Budget to make up for the loss of 2019, but then morphed into a series of pandemic-related quasi-Budget announcements by the Chancellor. Covid-19 also forced the Chancellor to abandon an Autumn 2020 Budget in favour of a Spring 2021 Budget, when it was hoped the economic outlook would be clearer.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-548e59d elementor-widget elementor-widget-heading\" data-id=\"548e59d\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Where are we now?<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fe16131 elementor-widget elementor-widget-text-editor\" data-id=\"fe16131\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>A week after the House of Commons had risen for its summer recess in July, the Chancellor announced that he had asked the Office for Budget Responsibility (OBR) to prepare an economic and fiscal outlook (EFO) to be presented on 27 October. Normally EFOs appear alongside Budgets or formal statements, but, at that time, Mr Sunak made no mention of either.<\/p><p>However, alongside the raft of social care announcements on 7 September, the Chancellor confirmed 27 October as the Autumn Budget date.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-499e06b elementor-widget elementor-widget-heading\" data-id=\"499e06b\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">Plenty to watch out for<\/h4>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0a45302 elementor-widget elementor-widget-text-editor\" data-id=\"0a45302\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>Despite the \u00a312bn of tax raising revealed on 7 September, the Chancellor still has a challenging to do list:<\/p>\n<ul>\n<li>Government debt In 2020\/21, the Government borrowed about \u00a3300bn, over five times the figure for the previous year. In the first five months of this financial year another \u00a393.8bn has been added to the debt pile. The occupant of 11 Downing Street will not want to see any of his neighbour\u2019s spending plans unmatched by tax increases.\n<\/li>\n<li>Inheritance tax In response to a request from Philip Hammond, the OTS produced two reports on simplifying inheritance tax (IHT), the last of which emerged just over two years ago. To date the Chancellor has done little more in response than freeze the nil rate band until 2026 and promise to reduce IHT paperwork for most estates.\n<\/li>\n<li>Capital gains tax IHT is not the only capital tax that has two OTS reports sitting on Mr Sunak\u2019s desk. The same is true of capital gains tax (CGT) \u2013 and these were reports which he had personally commissioned. CGT is not a tax for which there was a manifesto promise of no rate changes, so the Treasury views it as a promising area for raising more revenue. For example, the OTS suggested reducing the annual exemption from \u00a312,300 to \u00a32,000- \u00a34,000 and aligning CGT rates (maximum generally 20%) with income tax rates (maximum 45% in England).<\/li>\n<\/ul>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-d883e99 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d883e99\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-2ec901f\" data-id=\"2ec901f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-edfc4c3 elementor-widget elementor-widget-image\" data-id=\"edfc4c3\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"652\" height=\"621\" src=\"https:\/\/broadstreetwealth.co.uk\/wp-content\/uploads\/2020\/05\/logo-fav.svg\" class=\"attachment-large size-large\" alt=\"\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-dbaa283\" data-id=\"dbaa283\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-daa127d elementor-widget elementor-widget-text-editor\" data-id=\"daa127d\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p>The Chancellor has no money for giveaways, and, even before the increases to NICs and dividend tax, he was already quietly increasing taxes by freezing allowances and tax bands.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-5aa2a5f elementor-widget elementor-widget-button\" data-id=\"5aa2a5f\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t<a href=\"https:\/\/broadstreetwealth.co.uk\/contact\/\" class=\"elementor-button-link elementor-button elementor-size-sm\" role=\"button\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-text\">Your tax bill is not going to be reduced by Mr Sunak; he needs all the revenue he can find. That makes your own personal tax planning all the more important. With capital tax reforms likely at some point, now is a good time to review those plans.<\/span>\n\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ebef78c elementor-widget elementor-widget-heading\" data-id=\"ebef78c\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<h5 class=\"elementor-heading-title elementor-size-default\">Past performance is not a reliable guide to the future. The value of investments and the income from them can go down as well as\nup. The value of tax reliefs depend upon individual circumstances and tax rules may change. The FCA does not regulate tax advice.\nThis newsletter is provided strictly for general consideration only and is based on our understanding of law and HM Revenue &\nCustoms practice as at 21 September 2021. No action must be taken or refrained from based on its contents alone. Accordingly, no\nresponsibility can be assumed for any loss occasioned in connection with the content hereof and any such action or inaction.\nProfessional advice is necessary for every case.<\/h5>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Steve Walker Posted on Categories Table of Contents The return of inflation? In September 2020, annual inflation in the UK was running at 0.5% on the CPI measure and 1.1% using the old RPI yardstick. At the time price rises were the least of the economic concerns. Wind forward 12 months and inflation has become [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":233,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[165,128],"tags":[],"_links":{"self":[{"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/posts\/1355"}],"collection":[{"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/comments?post=1355"}],"version-history":[{"count":21,"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/posts\/1355\/revisions"}],"predecessor-version":[{"id":1408,"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/posts\/1355\/revisions\/1408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/media\/233"}],"wp:attachment":[{"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/media?parent=1355"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/categories?post=1355"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/broadstreetwealth.co.uk\/wp-json\/wp\/v2\/tags?post=1355"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}