Category: Uncategorized

Ways to reduce a Capital Gains Tax liability

How will you ensure more of your money will go towards your future?

From using your annual exemption to saving in an Individual Savings Account (ISA), we look at ways to reduce a Capital Gains Tax (CGT) liability potentially. Cuts to the CGT exemption mean that arranging your investments as tax-efficiently as possible is more important than ever.

Investing a lump sum

Received an inheritance, windfall, or proceeds from a business or property sale? But what next?

Receiving a lump sum of money, whether from an inheritance, windfall, or proceeds from a business or property sale, can be exciting and overwhelming. Deciding where to invest this money is crucial, and with numerous options available, it can be challenging to determine the best course of action.

The importance of drafting a Will

Protect your family from uncertainty and potential conflicts

Many people still lack a properly organised estate plan despite the numerous benefits of writing a Will—such as getting our finances in order, planning our legacy, and ensuring that our loved ones are well looked after.

Quarter of retirees financially struggling despite paying off mortgage

Urgent need for effective financial strategies and support systems to ensure a dignified and secure retirement

According to a new study[1], around 21% of retirees say that, after paying off their mortgage, they are “unable to live fulfilling lives” due to insufficient retirement funds. This situation underscores the financial challenges many retirees face, even after achieving what many consider the major milestone of homeownership.

Financial planning conversations you need to have

Protecting your legacy and boosting your children’s financial security

Discussing finances can evoke anxiety or discomfort, and this tension doesn’t ease when family members are involved. Nevertheless, parents of adult children are responsible for discussing their financial future—particularly retirement and estate planning. Doing so ensures their children can provide support or fulfil their wishes as needed.

Retirement experience among over 55s

Money, or lack thereof, a significant driver of overall retirement satisfaction

Given the ongoing economic pressures of rising living costs, over 55s were asked how they find the overall retirement experience. The research found that four in five (79%) of over 55s who have retired did so without the help of financial guidance or advice, preferring to opt for a DIY approach to managing their finances[1].

Young women and retirement

How much income will you need for a comfortable retirement?

Almost a quarter (23%) of women in their 20s (aged 22-29 years) would be frustrated if they couldn’t retire by the age of 60, according to new research[1]. Despite this, 10% of this group have opted out of their employer’s pension scheme, further risking their chances of retiring when they plan to.

State pension awareness

What payments can you expect to receive from the government later in life?

In April 2024, the state pension rose by 8.5% to £11,502.40 a year for post-2016 retirees. However, according to new research[1], one in seven (14%) retirees receive less money from the state pension than expected. This highlights the need for more information about the payments people can expect to receive from the government later in life.

Changing retirement trends

Why the concept of a ‘hard stop’ retirement is becoming less prevalent

New research reveals that more than a quarter (28%) of individuals aged 25 to 54 do not foresee a complete retirement in their future[1]. This suggests the concept of a ‘hard stop’ retirement is becoming less prevalent among those considered to be in their prime working years. This emerging trend reflects a significant shift in how modern workers approach their career trajectories and financial planning.

Many Britons unaware of incorrect tax codes

What you need to know to avoid discrepancies and potential financial strain

According to research[1], almost a third of UK adults who have checked their tax code (31%) have found that they have been on the wrong one at some point. Additionally, one in six (15%) UK adults do not know if they are on the right tax code.