Tag: Financial Plan

Enhancing Pension Contributions For A Brighter Future

Contributing additional amounts to your pension stands to benefit you significantly in the long term. We explore in our blog different ways you can enhance your pension savings for a brighter future.

/ 5th June 2024

I have a will so why do I need a lasting power of attorney?

It is critical to consider the potential consequences of not having a Lasting Power of Attorney (LPA) in place. Many people assume that their loved ones or close relatives will automatically have the authority to make decisions on their behalf. However, this is not the case, and without a LPA, those close to you will not have the legal authority to handle your financial affairs, health decisions and welfare.

/ 15th June 2023

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...

/ 2nd June 2023

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.

/ 12th April 2023

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.

/ 29th March 2023

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.

/ 28th February 2023

Guide to Individual Savings Accounts

Time is running out to take advantage of this year’s Individual Savings Account (ISA) allowances. On 6 April when the new tax year starts, if you haven’t used all of your or your children’s ISA allowances from the previous tax year, it will be lost forever. Check out this guide to Individual Savings Accounts.

/ 7th February 2023

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.

/ 7th February 2023

2023 Financial Resolutions

Most of us have probably made at least one New Year’s resolution, but how many of us will actually go on to achieve it? We all have different financial goals and aspirations in life, yet these goals can often seem out of reach. In today’s complex financial environment, achieving your financial goals may not be that straightforward.

/ 24th January 2023

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].

/ 20th December 2022

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.

/ 7th December 2022

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.

/ 29th November 2022

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.

/ 17th November 2022

Inheritance Tax Receipts Reach £6.1 billion

We all want to leave a legacy and make sure the ones we care about most are well taken care of when we’re gone. That’s why making plans for Inheritance Tax is so important, to have confidence that your children, grandchildren and those you hold dearest will be taken care of long into the future.

/ 11th November 2022

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.

/ 29th October 2022

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.

/ 18th October 2022

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?

/ 29th September 2022

How to Reduce Inheritance Tax by Leaving a Gift

When you’ve worked hard and invested carefully to build your wealth, you want to look after it. That’s why it’s important to plan for your wealth preservation and the eventual transfer of that wealth.

/ 12th September 2022

Show me the money!

It’s not surprising that the world of investing can seem complex, especially in the current global economic climate. Investors face an endless supply of market news, many investment choices and often-changing market conditions.

/ 1st September 2022

Getting Set for Retirement

Welcome to our Guide to Getting Set for Retirement. As you approach the last five years before your retirement, there will be a lot of things to consider. You’ll need to think about your finances, your health, your housing situation and your plans for the future to live comfortably in retirement. In recent years, the changes to pensions legislation have created greater freedom and choice over how pension assets can be used. However, with freedom and choice comes complexity.

/ 21st August 2022