News
Achieving real financial empowerment
Traditionally, people might have assessed their financial health by simply checking the balance on their bank account or totalling their amassed level of wealth. In recent years, however, a different measure has emerged which seeks to balance financial stability with emotional wellbeing. Continue reading
HNWIs cutting pension contributions
Research has highlighted that in an effort to alleviate daily financial pressures, including rising mortgage rates, one third of high-net-worth individuals (HNWIs) have reduced their pension contributions or intend to do so in the next six months. Continue reading
IHT goes mainstream
Inheritance Tax (IHT) receipts have been consistently rising, with new data from HM Revenue & Customs (HMRC) showing takings for the 2022-23 tax year totalled £7.1bn, up a massive £1bn from the previous tax year (£6.1bn 2021-22). According to HMRC, this huge uplift can be attributed in part to ‘a combination of the recent rises in asset values and the government’s decision to maintain the IHT nil rate band thresholds at their 2020 to 2021 levels up to and including 2025 to 2026.’ Continue reading
Striking a balance
While recent financial challenges have taken their toll on everyone’s pockets, it comes as no surprise that parents are putting concerns about their children’s finances above their own, as highlighted in a recent survey of advisers. Continue reading
Signs of optimism in the global economy
Although the global economy continues to face significant headwinds, statistics released during the first few months of this year have revealed unexpected signs of resilience. This has led economists to begin upgrading growth forecasts, while the World Economic Forum’s latest Chief Economists Outlook reported signs of ‘nascent optimism.’ Continue reading
Taxman on the trail of unpaid IHT
HMRC has set up a new specialist team to target estates of wealthy deceased individuals in order to check whether a greater Inheritance Tax (IHT) liability may have been due than originally calculated by estate executors. This clampdown has seen record amounts of unpaid tax being clawed back by HMRC with levels expected to rise further in the coming years. Continue reading
A pension – the best (retirement) gift for your child?
With the cost of children’s birthday presents and parties often totalling hundreds of pounds – could there be a better way to provide for your child or grandchild? Continue reading
Are you a wealth accumulator?
Having your finances in order brings tremendous peace of mind. Financial wellbeing varies from person to person but fundamentally encompasses having security around money, now and in the future, plus knowing what makes us happy, and having money goals in place to achieve this happiness. Continue reading
Land driving surge in UK’s net worth
Recent data from the Office for National Statistics (ONS) shows that the UK’s net worth rose by £1trn in 2021, to total £11.8trn, the largest annual increase on record (9.2%). This rise can be attributed to the increasing value of land, accounting for over 60% of net worth. Continue reading
Taking steps to offset fiscal drag
The gradual reduction of disposable income due to inflation and changes in tax brackets, or frozen tax allowances, will weigh on your finances, causing ‘fiscal drag’. Continue reading
Investor confidence returns
A recent survey suggests investors are becoming more confident despite ongoing challenges on the economic front. While this is certainly encouraging, maintaining a long-term outlook and retaining a strong sense of discipline in investment positioning remains a prerequisite for any successful investor. Continue reading
Are you a financial secret keeper?
Research has shown that nearly two in five people in a relationship in the UK are committing ‘financial infidelity’ which includes ‘deceptions’ such as having secret credit cards or savings accounts and hiding purchases from partners. Continue reading
Digital pound likely this decade
The Treasury and the Bank of England have started consultations on a potential digital pound, or central bank digital currency (CBDC), that could be used by households and businesses instead of cash for everyday payments in-store and online. Continue reading
Review your resilience
Awareness of the importance of protection has risen since the pandemic and led many to reassess their financial and personal priorities. It’s sensible to review your protection cover once a year and to discuss it with those close to you to make sure it still meets your needs. Continue reading
Baffled and confused? We speak your language
Financial jargon can be confusing and overwhelming. A new study has revealed that seven in ten UK adults are puzzled by financial jargon. Continue reading
Bringing clarity to your decision-making
In today’s increasingly complex and challenging world, financial advice to help people navigate through life’s journey is more important than ever; a point vividly highlighted by a new study from the Financial Services Compensation Scheme (FSCS) which raises fears over the consequences of a worrying financial ‘advice gap’. Continue reading
Spring Budget Recap
Jeremy Hunt delivered the Spring Budget on March 15th declaring it “A Budget for Growth.” The fiscal update included a range of new measures, but kicked off with the latest economic projections from the Office for Budget Responsibility (OBR) Continue reading
Take advantage of the new tax year
A new tax year has begun and with it comes the chance to start your tax planning early, but why rush when there’s almost a year to go? Here are a few reasons: Continue reading