UK savers

Speculation is building over whether the UK Labour government will raise capital gains tax in its upcoming Autumn Budget. Investors and savers are watching closely, as an increase could affect returns on shares, property and business sales, and some are considering selling assets early to lock in current rates ahead of any announcement.

People in the UK aged 55 and 56 are being warned to check their pension plans ahead of a major rule change to when savings can be accessed. The alert concerns the minimum pension access age, which is set to rise, potentially catching out those expecting to withdraw funds at 55. Commentators urge savers to review withdrawal timings and seek financial guidance before the change takes effect.