TAXING TIMES FOR 2023
A YEAR MARKED BY SEVERAL TAX CHANGES THAT IMPACTED HIGHER RATE TAXPAYERS As we approach the end of the year, taxpayers should begin assessing their tax obligations. This is not a task to be left to the eleventh hour, especially considering tax changes coming into effect in 2024. This is also particularly true for 2023, […]
A TIMELY PROPOSITION
CONSIDERING GILTS FOR YOUR INVESTMENT PORTFOLIO? High interest rates make gilts an attractive option for some investors, especially higherrate taxpayers who benefit from the tax exemption from capital gains. What exactly are gilts?These UK government bonds, or debt securities, are issued to finance public expenditure. Theirappeal lies in their low-risk nature and guaranteed income. SECURING […]
RETIREMENT CHALLENGES FACED BY WOMEN
NEARLY HALF OF WOMEN AGED 50-65 PLAN TO CONTINUE WORKING IN SOME CAPACITY AFTER REACHING THE STATE PENSION AGE Years of gender-based earnings disparity have resulted in a significant pension savings gap between men and women, leaving many women in their 50s and 60s financially precarious. According to analysis, women are more than twice as […]
PROFESSIONAL FINANCIAL ADVICE, WHERE’S THE VALUE?
MAKING MORE INFORMED DECISIONS ABOUT MONEY LEADS TO BETTER FINANCIAL HEALTH IN THE LONG RUN We readily trust medical professionals with our health and legal professionals with complex legal matters. Yet, some people hesitate when seeking advice on financial matters. This might be attributed to a few different factors. Firstly, finance can feel incredibly personal […]
MONEY AND DIVORCE
UNTANGLING YOUR FINANCES AND NAVIGATING THE FINANCIAL ASPECTS OF DIVORCE Divorce is a complex process that often comes with various financial considerations, and preparing for a divorce is undoubtedly challenging, especially when it involves untangling your finances. The emotional strain can make it difficult to make clear-headed decisions, and the long-term consequences may not be […]
HOW MUCH WILL I NEED TO LIVE ON IN RETIREMENT?
PLANNING FOR YOUR LIFE AFTER WORK TO ENSURE A FINANCIALLY SECURE FUTURE Retirement planning is an important step to ensure a financially secure future. When calculating how much you’ll need to live on in retirement, there are various factors to consider. Everyone’s circumstances are different. While the general rule of thumb suggests aiming for around […]
COST OF CARE IN LATER LIFE
CHOOSING THE BEST OPTION FOR YOURSELF OR YOUR LOVED ONES The costs of care in later life can vary greatly and depend on a multitude of factors. Notably, the type of care required, the individual’s financial situation and their location within the UK play a significant role in determining these costs. Many underestimate the true […]
BUILDING A RELIABLE INCOME STREAM FOR YOUR GOLDEN YEARS
MAKE SURE YOU MAXIMISE YOUR RETIREMENT INCOME THROUGH ANNUITY SHOPPING When it comes to using your pension pot, buying an annuity is one option that provides a regular and guaranteed retirement income for either your lifetime or a fixed term. However, it’s important to note that purchasing an annuity is typically an irreversible decision. Do […]
WILL YOU MAKE THE RIGHT DECISIONS AROUND YOUR PENSION POT?
WHY DEFINED CONTRIBUTION PENSIONS ARE EVEN MORE APPEALING FOR WEALTH TRANSFER The announcement of the removal of the Lifetime Allowance (LTA) from the 2024/25 tax year in March’s Spring Budget 2023 has made defined contribution pensions even more appealing for wealth transfer. This benefits individuals over 55 who intend to leave their tax-free lump sum […]
PRESERVING WEALTH FOR FUTURE GENERATIONS
STARTING ESTATE PLANNING EARLY AND IMPLEMENTING IT IN STAGES IS DESIRABLE The UK Treasury has been receiving record-breaking Inheritance Tax (IHT) receipts. IHT receipts amounted to approximately £7.09 billion British pounds in 2022/23, compared with £6.05 billion in the previous financial year. For individuals and families who have to pay it, IHT can be emotionally […]