Paul Lewis

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Paul Lewis: Scrap National Insurance contributions

Is it time to scrap the National Insurance fund? Despite its name, it is not a fund and it is not insurance, though a fiction is carefully woven around it to make it appear as if it is both. Its very name is misleading. The word “fund” makes people think of a pot of money […]

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Paul Lewis: Why the FCA must shake up adviser websites

Businesses generally say they welcome competition. Because competition is a “good thing”. Unlike Government interference, which is a “bad thing”. It distorts the market, and distorting the market is always bad. Very bad. Especially when done by politicians. All that is nonsense, of course. Firms do not want competition. The ideal state for a business […]

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Paul Lewis: Why I don’t believe in tax ‘burdens’

The tax burden. I was thinking about it the other day as I drove along the M25: a road which was, of course, built out of the tax burden. A year ago, I had an eye operation. That was paid for from the tax burden. My grandchildren go to various schools all funded (or underfunded) […]

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Paul Lewis: Why do we value earnings less than wealth?

There are those who think any sort of taxation is unfair, especially when it applies to them. But one argument frequently used to object to taxes centres on double taxation. In other words, that they can tax the same income twice. Take those who object to inheritance tax because their parents “worked hard and struggled […]

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Paul Lewis: Percentage charges are destroying client wealth

I didn’t do Latin at school (I was in the German stream), so I had to look up “ad valorem”. My online dictionary reveals it is the Latin for “rip-off”. Estate agents love ad valorem, although they are not usually posh enough to call it that. Almost all charge a percentage of the selling price of […]

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Paul Lewis: The trouble with Govt tax allowances

We have heard very little recently of the Chancellor’s friend but fiscal drag has been beavering away largely unnoticed, raising or saving money for him. Fiscal drag raises extra money when tax allowances do not rise with inflation. That brings more people into the scope of paying that tax and more money for the Chancellor. […]

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Paul Lewis: Paradox time in new state pension land

Here is an investment I promoted on my radio show recently. You pay £733 and in return you get a guaranteed annual income of £231 for life, index-linked by prices, earnings or 2.5 per cent, whichever is the highest. Isabel wrote in: “I asked my financial adviser but he didn’t know anything about it”. I […]