Tag: Protection
Our Guide to Protecting Your Family, your Biggest Asset
Life is unpredictable and filled with a multitude of potential risks. By understanding and selecting the right insurance policies, you can confidently navigate life’s uncertainties, knowing that you’ve taken steps to safeguard your and your family’s financial wellbeing. Read our full guide to protecting your family, your biggest asset.
Passing on assets Tax-efficiently
Are you concerned about the impact of Inheritance Tax (IHT) on your estate? It’s natural to want to leave behind a legacy for your loved ones, but without the right plan in place, a significant portion of your wealth could be subject to Inheritance Tax. With IHT affecting more and more families, it’s crucial to be proactive and plan accordingly. In most cases, it’s better to begin Inheritance Tax planning as early as possible in order to ensure that your estate is adequately protected. Investing in other options like trusts or leaving money to a registered charity may also provide...
Guide to setting up a future for my grandchildren
Investing in the future of your grandchildren is a great way to help them prepare for their financial needs in life. By setting aside money now, you can provide them with added security and increased opportunities in the years to come. Investing for grandchildren can be used to help fund college tuition, make a down payment on their first car or home, or even start a retirement fund.
Critical illness cover, your questions answered.
People are increasingly becoming more concerned about the possibility of being affected by a critical illness such as cancer, stroke or heart attack, according to new research findings[1]. This is reflected in the fact that searches for ‘critical illness insurance’ have skyrocketed, with, on average, 6,800 people searching for ‘critical illness cover’ every month, mostly asked on Google.
Wealth Succession
Financial planning can be a daunting and uncomfortable conversation for many, but thankfully attitudes towards talking about money are changing. Wealth succession should be an integral part of your financial plan as early as possible – because the right preparation now can have positive long-term impacts on future generations.
Time for a tax health check?
Personal tax planning should be at the top of your agenda as the end of the current tax year is not too far away. Taking action now may give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions. At the same time, you should be considering whether there are any planning opportunities that you need to consider either for this tax year or for your long-term future. We’ve listed a few reminders of the issues you may want to consider as worthy of including in your 2022/23 tax health check to-do list.
Minimising or even avoiding Capital Gains Tax Liabilities
Gains are calculated by subtracting the purchase price and related expenses (such as sales charges) from the selling price. They are generally taxed at a rate higher than income taxes in order to discourage speculation. If you plan to sell assets that have appreciated in value, such as real estate, stocks or bonds, it is important to be aware of CGT and how it can affect your bottom line. Proper planning can help you minimise or even avoid CGT liabilities.
Don’t ‘Sleepwalk’ Into Retirement
As we enter our later years, it's more important than ever to have a solid retirement plan in place. Unfortunately, for many of us, that simply isn't the case. According to recent figures, one in six people over the age of 55 in the UK have no pension savings whatsoever[1].
Guide to Leaving a Tax Efficient Legacy
If you thought Inheritance Tax was just for extremely wealthy people to worry about, think again. Rising property prices have meant more estates than ever are likely to face an Inheritance Tax bill.
Investing for Positive Change
Over the past few decades, there has been a growing interest and awareness in investing in companies that take into account environmental, social and governance (ESG) factors. This type of investing – also known as sustainable, responsible or impact investing – aims to generate both financial returns and positive social and environmental impacts.
Cost of Living Crisis
Older people in the UK are increasingly returning to work, [1] according to new research. The cost of living crisis is now affecting many pensioners drastically. The research also found that the proportion of older people who are self-employed has more than doubled over the same period.
Your Financial Roadmap
When it comes to planning for your financial future, a roadmap can be an extremely helpful tool. By outlining your current situation and mapping out where you want to be, you can develop a clear plan of action that will help you achieve your financial goals.
Guide to Maximising Pension Savings
Many people are feeling the pressure on their finances at the moment due to the backdrop of rising inflation and the cost-of-living soaring. In these circumstances, it can be difficult to think about your long-term finances or even contemplate saving for the future. Even in the current climate there are ways to maximise the value of any pension savings you do have.
Guide to Family Protection
Welcome to our Guide to Family Protection. There are various complex risks in life that we all face, such as serious illness, an accident or death. What would happen if something were to happen to you? Would your family be able to cope financially with the impact an unexpected event might have?
Investing for Children and Grandchildren
With many of us living longer, you may be thinking about how you can support your family at the moments that matter. Sharing your wealth during your lifetime – especially with younger generations facing the pressures of rising house prices and university fees – can really make a difference and bring you great joy too.
Making Suitable Plans
Inheritance Tax can cost families thousands of pounds but there are various ways to legally avoid paying this tax. Without making suitable plans, your loved ones could face a tax bill of 40% on the value of everything you own above a certain threshold.
Portfolio Diversification
By maintaining proper portfolio diversification and avoiding the pitfalls of market timing, you’ll have the foundation needed to help manage your overall exposure to market volatility. Historically, the stock market has been up more than down.
Changing Tax Landscape
Tax planning should enable you to arrange your affairs in ways that postpone or legally avoid taxes. No one likes to pay tax on their hard-earned money, so by employing effective tax planning strategies you could have more money to save and invest or more money to spend. Or both. Your choice.
Wealth Preservation
The rules around Capital Gains Tax (CGT) are complex and they differ depending on your financial situation. It’s a complicated tax and, as a result, some people may get confused about how much they should expect to pay. WHAT IS CAPITAL GAINS TAX? Capital Gains Tax is a tax payable on the profits (or ‘capital gains’) you make from selling certain assets. These assets include some property, items of value such as art, jewellery or collectables, company shares or other investments, and businesses or business assets.
Succession Planning
The operational demands of running a family business or other closely held enterprise can be all- consuming, but it’s vital that business leaders take the time needed to assess their organisation’s business succession planning.