FEATURED NEWS
WHY IS IT IMPORTANT TO SAVE FOR RETIREMENT?
Saving for retirement is crucial. With inflation and living costs ever rising, the UK state pension alone is becoming less and less likely to cover your living expenses. The current £11,962.60 a year, while a helpful safety net, typically provides only a basic income that may not meet the needs of many retirees.
SHOULD WE CONSIDER THE POTENTIAL FOR A CHANGE IN THE WAY THE UK TAXES PENSIONS?
The Labour Government has indicated its desire to fill a fiscal black hole and of course there is only one viable way to do this in the short term…increase taxation. They could rely on economic growth but that comes with some financial risk and significant uncertainty.
LATEST NEWS
WHY IS IT IMPORTANT TO SAVE FOR RETIREMENT?
Saving for retirement is crucial. With inflation and living costs ever rising, the UK state pension alone is becoming less and less likely to cover your living expenses. The current £11,962.60 a year, while a helpful safety net, typically provides only a basic income that may not meet the needs of many retirees.
SHOULD WE CONSIDER THE POTENTIAL FOR A CHANGE IN THE WAY THE UK TAXES PENSIONS?
The Labour Government has indicated its desire to fill a fiscal black hole and of course there is only one viable way to do this in the short term…increase taxation. They could rely on economic growth but that comes with some financial risk and significant uncertainty.
COULD THE UK INHERITANCE TAX (IHT) BURDEN INCREASE UNDER LABOUR?
With the advent of a new Labour government several clients have expressed a concern about the potential for an increase in taxation. Whilst staying politically neutral (as best I can) this is one area that the Labour party might look at to raise additional revenue for their social and economic priorities.
ARE ANNUITIES BACK & WHEN SHOULD YOU CONSIDER BUYING ONE?
In some ways annuities are more attractive than they have been for over 15 years as we are in a period of higher interest rates, but the idea of being able to leave a pension pot behind to protect a loved one or pass to the family still has significant appeal. There are lots of reasons to consider an annuity but the biggest pull of all is the ability to purchase a guaranteed income for life.
POLITICS & INVESTMENT – FOCUS ON EUROPE
At the moment elections and politics are in the mind of the investment community and investors alike. It is natural for all parties to have some concern about the impact of a change in government. In the UK it seems likely that we will see a big shift towards Labour but in Europe the shift is in the opposite direction.
INCOME PROTECTION – THE FINANCIAL SAFETY NET YOU HOPE YOU NEVER NEED
No one likes thinking about a future where they’re ill and unable to work, whether for a few months or longer. But going through the unpleasantness of thinking about it and making plans is nothing compared to the potentially life-changing impact of finding yourself ill, unable to work, and with no income.
THE QUESTION TODAY IS ‘WHEN’?
We have been weighing up when interest rates will actually start to come down and wanted to write about this and why it is important. The direction of interest rates has been the main focus of financial commentators and expectations have shifted significantly since the Pandemic.
YOUR NEW TAX YEAR FINANCES – WHAT CHANGES & WHAT STAYS THE SAME
It’s a new tax year, and there are some changes to take on board. Jeremy Hunt’s 2024 Spring Budget contained some crowd-pleasers with an eye to the General Election later this year. But what’s going to affect you?
IS INVESTING WORTHWHILE?
Investing is very much worthwhile but this statement is always subject to the usual industry caveats (see footnote) and we need to acknowledge the maxim of risk vs reward, this really is relevant.
LAST MINUTE CHECKLIST BEFORE THE END OF THE TAX YEAR
As the end of the UK tax year approaches, it’s time for a dive into your finances to make sure you’ve taken advantage of all the available opportunities as well as fulfilling your obligations. Here’s an easy comprehensive list of 20 things to check for personal and business taxes as April approaches.
SPRING BUDGET HIGHLIGHTS
There has been plenty of press coverage on the various aspects of the budget that affects individuals. What does seem to be missing is any coverage of the 8.5% increase to state pensions in April. Please read the article that highlights what has been announced.
NEW YEAR RESOLUTIONS – FOR THE WHOLE OF 2024
It’s never too late to turn over a new financial leaf – whether it’s the new year or not. Reflecting on our financial goals and the habits we need to put in place to reach them should be a regular date in our yearly diary.