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26 Nov 2025

Budget 2025: Chancellor targets investors with “odd” tax rises on dividends, interest and rents

The chancellor’s need to fill the budget “black hole” trumped over her wish to encourage investing and saving as she lifted income tax on dividends and interest by 2% and created new bands for rental income. Increasing tax on the income from property, investment and cash assets will raise £2.2bn by 2029/30. The government believes […]

26 Nov 2025

Budget 2025: VCT alarm after income tax relief cut to 20%

Venture capital trust (VCT) providers have questioned the chancellor’s commitment to a “startup” Britian after she cut upfront income tax relief on investments in their tax shelters from 30% to 20%. The Treasury said the measure was aimed at achieving a better balance in the amount of tax relief given to VCTs compared to enterprise […]

26 Nov 2025

Budget 2025: No stamp duty on new listings for three years

In another effort to support London’s moribund capital markets, the chancellor announced a three-year stamp duty exemption on trading in shares in companies listing in the UK. The relief from 0.5% stamp duty reserve tax applied to the value of purchased in newly listed companies begins tomorrow. In her speech, Rachel Reeves made it sound […]

26 Nov 2025

Budget 2025: Cash ISA allowance slashed to encourage savers into UK stock market

The amount savers under 65 can put into cash ISAs will be slashed from £20,000 to £12,000 as the chancellor tries to revive the UK stock market after a five-year investor exodus. Although the overall £20,000 ISA allowance will remain, Rachel Reeves said from April 2027 £8,000 of that must go into a stocks and […]

26 Nov 2025

Budget 2025: OBR leak confirms mansion tax and salary sacrifice pension restriction; inflation forecast to rise

The Office for Budget Responsibility has published details of the Budget early. In an extraordinary development, minutes before the chancellor’s speech, the Budget watchdog revealed the government’s plans to: The OBR also lifted its inflation forecast from 2.1% to 2.5% next year. The pound rose in anticipation that interest rates will not be cut as […]

26 Nov 2025

Edinburgh lags FTSE All-Share but hikes dividends by 10%

Alarm bells are not ringing yet for Edinburgh (EDIN) shareholders but the £1.1bn UK equity income investment trust has just recorded its second period of underperformance under fund managers Imran Sattar and Emily Barnard.  Their underweight to banks, the absence of Rolls-Royce‘s (RR) stunning recovery from the portfolio and the unexciting performance of Haleon (HLN), the Sensodyne toothpaste to […]

26 Nov 2025

NextEnergy Solar’s new chair promises to “tackle” 43% discount and engage “openly” with shareholders

NextEnergy Solar (NESF), the highest yielding but in share price terms one of the worst performing renewables funds, has appointed a new chair with mergers and acquisitions experience, raising the possibility the company may look for a buyer. Tony Quinlan, a former chief executive of Laird who sold the engineer to private equity group Advent […]

26 Nov 2025

Polar Capital Global Healthcare: Over three quarters of shareholders ignore exit in “overwhelming support” for trust

Polar Capital Global Healthcare (PCGH) has received a massive endorsement from shareholders and will proceed to the next stage of its journey after less than a quarter of shares were tendered in the company’s 100% exit. Shareholders were free to sell all their stakes in the £508m investment trust’s tender offer but only 22.5% did […]