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Tax Threshold Freeze, Sarah Ferguson's Companies, and Presidents Day Deals: A Roundup
LONDON - Several financial and economic developments are making headlines, including the impact of frozen tax thresholds in the UK, the winding down of companies linked to Sarah Ferguson, and the return of significant discounts for Presidents Day. These stories, covered by various news outlets, highlight different aspects of the current economic landscape.
According to BBC Business, UK taxpayers could see their take-home pay affected by frozen tax thresholds, which will remain in place until 2031. The article explains that while wages have been rising faster than prices for the last two-and-a-half years, the frozen thresholds could lead to individuals paying more tax on their rising salaries. A calculator is available to help people assess the impact on their pay. This policy applies to employees in England, Wales, and Northern Ireland.
Meanwhile, six companies linked to Sarah Ferguson, the former Duchess of York, are being wound down, as reported by BBC Business. Documents filed with Companies House show that Ferguson is the director of all six businesses, which are due to be struck off the register in ten days unless legal cause is shown to prevent it. The nature of the firms' activities is unclear, though one is related to public relations and another to retail. The closure comes amid further revelations from the Epstein files.
In other news, retailers are offering significant discounts for Presidents Day, according to The Verge. The outlet is rounding up deals on a range of products, including earbuds, speakers, TVs, and smart home tech. "Deals have been admittedly pretty dry since the holidays, but now that February is in full swing, were starting to see strong discounts return across a range of categories," the article stated.
In related financial news, Fortune reported on the strategies the ultrawealthy use to reduce taxes and ensure wealth transfer. "The rich have made an art of avoiding taxes and making sure their wealth passes down effortlessly to the next generation," the article stated. Estate planning attorney Mark Bosler noted that while the average person relies on a simple will, the wealthy utilize a different playbook, often involving trusts.
Finally, a Hacker News article discussed the surprising metabolic cost of thinking. The article noted that while the brain consumes a significant amount of energy, the act of thinking itself is relatively cheap in terms of calorie expenditure.
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