Developing an investment strategy tailored to your goals Committing to a financial plan is crucial for building wealth and achieving long-term financial goals. When you have a plan, you are more likely to stay focused on your objectives and take the necessary steps to reach them.
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.
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 […]
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.
How bonds’ structure and tax advantages can help you pass on wealth Investment bonds offer several benefits that some investors may be missing out on, and have become even more beneficial due to recent changes in tax regulations following the Chancellor’s decision to reduce the Capital Gains Tax (CGT) Allowance from £12,000 to £6,000 this […]
£1.3 billion pension tax relief unclaimed by pension savers over a five-year period According to recent research, higher rate and additional rate taxpayers in the UK leave millions of pounds of pension tax relief unclaimed yearly. This amounts to a staggering total of £1.3 billion over a five-year period. This unclaimed money could be in […]
Taking proactive steps in securing your child’s or grandchild’s financial future Many parents and grandparents set aside money for the next generation to help with their financial needs. The rising cost of education, housing, and life in general, has created concerns about financial stability for future generations.
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 […]
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
Assessing your current and projected wealth, income and expenses Retirement planning is of utmost importance, regardless of your income or wealth. It ensures a steady income stream after retirement and provides financial security for you and your loved ones.