Newsletter
These articles help you understand your financial needs and aspirations
- List by category
- All Categories
- Divorce
- Financial Planning
- Inheritance Tax
- Investment Risk
- Pensions
- Protection
- Retirement
- Savings
- Tax
- Tax Planning
PENSIONS OF SIGNIFICANT VALUE WELCOME BUT UNEXPECTED CHANGES TO PENSION TAX
In this issue, Chancellor Jeremy Hunt's first proper Budget 2023, on Wednesday 15 March, brought some welcome but unexpected changes to pension tax, the most significant of which was the abolition of the pension Lifetime Allowance (LTA) charge. Britons can now expect significant changes that will affect their retirement savings. On page 10 we consider how these changes could impact on your pension and secure your retirement plans.
Articles featured in this issue:
State Pension
How much has the 2023/24 State Pension increased by?
Early bird investors
Does the early bird get the ISA worm?
More people choosing semi-retirement for a variety of reasons
Two in five over-55s plan to gradually phase out working life before State Pension age
Pensions of significant value
Welcome but unexpected changes to pension tax
Giving while living
What will your legacy look like?
Spring Budget 2023
How the changes affect pensions and taxes
Professional financial advice matters
Making informed decisions about how best to allocate your resources
I have a Will, so why do I need a Lasting Power of Attorney?
Making decisions in relation to your financial affairs, health and welfare
Financial wellbeing
More than 24.5 million people are financially disengaged
Securing an income stream for the rest of your life
Deciding what to do with your pension fund can be a complex decision
Relying on an inheritance for future financial security
50% of British adults admit to having checked the value of their parents’ property
Retirement matters
Will you have enough funds to cover your desired lifestyle after you stop working?
Principles of growing your money
Investing could help you beat inflation and build a nest egg for the future
Want to help give the younger generation a boost?
One in 12 grandparents use property wealth to support grandchildren
Passing on assets tax-efficiently
How to ensure that your wealth is preserved for future generations
Mind the State Pension gap
Knowing how much you’ll receive is vital for planning your future finances
Combining drawdown with an annuity
Enjoying a comfortable and sustainable retirement income that gives you the best of both worlds
Think of life insurance like a safety net
Make sure your dependents would have the money they’d need if you were no longer around
Gender pension gap
Gap in pension benefits between men and women widens
Building up more tax-free money in your pension
Changes present significant opportunities for various individuals
Time to give annuities another chance?
Nearly one million pre-retirees considering annuities
Guide to the Spring Budget Statement 2023
Guide to the Spring Budget Statement 2023
On Wednesday 15 March, Jeremy Hunt, the Chancellor of the Exchequer, addressed the Commons to deliver the Spring Budget 2023, with an aim to bring people back into the workforce. Mr Hunt commented that the Office for Budget Responsibility (OBR) expects inflation to fall from 10.7% to 2.9% by the end of 2023.
The Chancellor said the OBR now forecasts the UK will not enter a technical recession this year. But despite narrowly avoiding recession, living standards are still predicted to fall by 6% within this fiscal year and the next.
Key budget announcements included the abolishing of the Lifetime Allowance on tax-free pension contributions, which was previously set at £1,073,100. The tax-free annual pension allowance for pension pots will also rise from £40,000 to £60,000 from 6 April 2023.
Working parents in England are to receive 30 hours of free childcare per week, though this won't be fully implemented until 2025. It will be phased in for households where the parent or parents work: April 2024: Eligible two-year-olds will get 15 hours of free childcare per week; September 2024: Eligible children between nine months and two years will get 15 hours; and September 2025: Eligible children between nine months and three years will get 30 hours.
Fuel duty has been frozen again whilst help with energy bills will remain for an extra three months and disabled people can apply for up to 50,000 places on a new voluntary employment scheme funded by the government. The Chancellor also confirmed that Corporation Tax will rise from 19% to 25% in April.
What does the Spring Budget Statement 2023 mean for you, your family and business?
In our guide to the Spring Budget Statement 2023, we look at the key announcements from Jeremy Hunt's speech. If you require any further assistance or would like to discuss your situation, please contact us
Wealth Succession - Making the Right Preparation for Future Generations
In this issue, 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. On page 06, before you start this process, we consider the questions you need to ask.
Articles featured in this issue:
Goals don't just happen, you have to plan for them
How professional financial advice benefits both you and your family
Rising prices can wipe years off retirement pots
How to protect your pension income against inflationary pressures
Wealth succession
Making the right preparation for future generations
Show me the money
Britons not researching their investments because it’s ‘time consuming’ and ‘complicated’
Time to retire?
Planning your finances to be sustainable for the long term is key
Critical illness cover, your questions answered
Protecting against the financial impact that a serious illness can cause
Retirement planning
Your wealth. Your legacy
Giving retirement a second thought?
Over a third of over-55s think they will work beyond their State Pension age
Financial security and freedom
Rising prices add almost 20% to ‘minimum’ cost of retirement
Thinking about divorcing?
Protecting your assets and preparing you for going forward on your own
Cost of living crisis
Almost one in three over-55s’ mortgage repayment plans derailed
Financial bliss!
Money and finances are a common source of disagreement and stress
Cost averaging your investments
Reducing the risk of investing in volatile markets
Insurance that works while you can’t
2.5 million Britons lose at least £23,126 a year due to long-term illness
Retirement planning for every life stage
Alleviate any fear and uncertainty you might have about your financial future
Overwhelmed by your pension?
Almost half of UK consumers find pensions information daunting
Protecting income
7% of self-employed workers would choose to carry on working through illness or injury
Financial jargon
7 out of 10 adults are puzzled by financial matters lingo
Future wealth
Ready to start investing for your grandchild’s future?
Drawdown, annuities or both?
Make sure your retirement strategy meets your needs and goals
Taxing Times - Time for a tax health check?
With the current tax year having begun on 6 April 2022, the clock is ticking and it is important to utilise all the tax reliefs and allowances available to you before 5 April 2023 in order to minimise any potential liabilities. On page 08, we look at the way 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.
Articles featured in this issue:
Chancellor retains State Pension triple lock
State Pension is set for a record-breaking increase from April 2023
Don't miss the ISA deadline
Use your tax-efficient allowance or lose it forever!
‘Phased retirement’
Pre-retirees starting their plans but will rising living costs halt their plans?
No ‘one-size-fits-all’ protection solution
Helping you feel confident your family’s finances are secure
Menopause in the workplace
Unique retirement planning challenges women face
Taxing times
Time for a tax health check?
Time to get your retirement plans in motion?
Three in five Britons feel stressed about later life planning
Tracing old and lost pensions
Nearly half of pension holders have lost track of some of their pension pots
Millennials willing to forgo inheritance
Harder to support bigger financial commitments of older generation parents
Feeling the pinch
Women more vulnerable to cost of living crisis
Perfect storm
Major long-term ramifications for financial health and wellbeing
Show me the money
Choosing an investment style that best suits your needs
Ins and outs of CGT
Ways to potentially reduce your Capital Gains Tax liability
Planning to meet your goals
How advice can boost your financial wellbeing
What sort of lifestyle will you be able to afford?
How inflation could be impacting on your retirement plans
Impacts of climate change
Nearly two-thirds of people in the UK more concerned about climate change
Understanding pensions
A topic high up on the recruitment radar
Time to talk
Discussing Wills and trusts with adult children or dependents
Insurance that works while you can’t
Would you be able to carry on paying the bills using statutory sick pay or your savings?
Don't Abandon Pension Contributions as Prices Rise
As the cost of living continues to soar, with inflation reaching a 40-year high, the impact on household finances is taking its toll. But it is essential to try to maintain a savings habit even in the current climate. In our latest Newsletter we look at the impact breaks in pension contributions could mean to savers by missing out on thousands of pounds in future that will mean less income during retirement.
Articles featured in this issue:
Working 9 to 5
More over 65s are still working than six years ago
Pension saving revolution
Auto-enrolment: celebrating a decade that has encouraged a culture of saving
Investing for positive change
More investors align investments with personal values
Passing wealth down through the generations
Millions of retirees help out in cost of living crisis
Don’t abandon pension contributions as prices rise
Savers could miss out on thousands of pounds in retirement
Spotting an investment scam
How scammers are getting more convincing
Pensioners’ incomes
What is the average UK retirement income?
How to maximise the value of pension savings
Mistakes to avoid when you’re aiming to build your pension pot
Doing the right thing for the planet
Four in five looking to change jobs demand green pensions
Balancing risk and returns
Bonds can play a key part in building an investment portfolio
Leaving a tax-efficient legacy
Considering the rule of seven when making financial gifts
Shrinking safety nets
More people set to dip into emergency funds
Increasing financial support for millennials
Cost of living crisis drives early inheritance gifting
Preparing your finances for retirement
Could market volatility and inflation mean you have to delay retirement?
Solving investor challenges
How to take less risk when investing
Reluctant to return
Millions want to stick with lockdown lifestyle changes
Putting Life on Hold
Welcome to our latest edition. Rising living costs have been so significant in recent months that most UK households will have noticed a squeeze on their monthly budgets. Not only does this have a direct impact on people’s lifestyles, even though they are making every effort to cut back, but it has a knock-on effect on their lifelong goals such as owning a home or retiring comfortably. On page 05 new research highlights millions of people across the UK fear that the long-term impact of today’s rising living costs could see their life goals delayed or even missed altogether.
Navigating the higher rate tax freeze
Minimising the impact on your personal finances
Great wealth transfer
Preparing both ‘the family’ and ‘the money’ for the transition of wealth to the next generation
Cash may not be king
Deciding whether to withdraw cash from your pension pot
Putting life on hold
Cost-of-living crisis delays homeownership, having children and retirement
Are you saving enough for retirement?
One in six over-55s have no pension savings yet
Bringing pensions together
What to consider if you have multiple pension pots
How to protect you and your family’s future
What kind of protection insurance do you need?
Inheritance Tax receipts reach £6.1bn
What if I could make my wealth more tax-efficient?
Bridging the gender pensions gap
Women left with half the pension pot, no matter the job
Unretirement
More over-50s returning to work amid cost-of-living crisis
Cost-of-living crisis
Britons cutting back on food and entertainment to keep cars on the road
Funding the lifestyle you want
Get your retirement plans in motion
It’s good to talk
More young adults are more engaged about money with their parents than past generations
A healthier approach to retirement wealth
Pension schemes have a critical role to play in the transition to a net zero economy
Health, wealth and happiness of a nation
Overall wellbeing still not close to being back to levels seen pre-COVID
Ten tips for first-time investors
Ready to get started on your investment journey?
When should I stop working?
How to tell whether you’re ready to retire
Never too early to plan ahead
Pension savers struggling to save enough for their later years
Bank of grandma and grandad
Older generation using the wealth held in their property to help younger generations
Mind the retirement gap
Four out of five workers not saving at levels which are likely to deliver an acceptable standard of living in old age
Reevaluating the role of work
Preparing your finances for a career break
Self-employed extremely vulnerable to loss of income
81% aren’t seeking financial advice
Later life and financial wellbeing
More than one-million over-60s are rethinking later life plans
Pension booster
Mistakes to avoid when you’re aiming to build your pot
Show me the Money - How to Invest Your Money & Avoid Costly Mistakes
Welcome to our latest edition. 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. There are a number of key principles that every investor should follow with the aim of building an effective long-term strategy designed to achieve their financial goals.
Articles featured in this issue:
Rising cost of living crisis
3 tips to maintain your financial wellbeing
Managing the impact on your pension
Just two out of five have planned for inflation in retirement
Self-employed vulnerable to financial shocks
New research highlights that 81% aren’t seeking financial advice
Midlifers set to be impacted twice by the cost of living
Financial planning essential to help balance priorities
Show me the money
How to invest your money and avoid costly mistakes
Cost of ‘saver inaction’
Millions of savers think inflation will leave them better off
Inflation eating your savings?
How to benefit from tax reliefs in the current financial year
Tips for a healthy pension as you approach retirement
What really important retirement questions should you be asking?
What are the signs you’re really ready to retire?
No one-size-fits-all answer to this question
How to reduce Inheritance Tax by leaving a gift
Planning for your wealth preservation and the eventual transfer of that wealth
What does inflation mean for me and my money?
How to protect and grow your wealth over time
Recession-proof your finances
10 practical steps to ensure your money is working hard for you
Wealth vs health
More than half ignore medical advice and work despite poor health due to financial worries
Pension poverty after divorce
Ensuring an equal division of all the assets within the matrimonial pot
How much will you need to retire?
Quarter of savers approaching retirement at risk of not having an ‘adequate pension’
Starting a family
What steps to take to prepare financially
How to improve your financial health
General principles to help you attain specific goals
Fed up With your Nine-to-Five
Welcome to our latest edition. Are you fed up with your nine-to-five? There are many factors that can influence when someone decides to retire. For some, it may be based on health reasons, while others may want to take advantage of government benefits or simply enjoy a more relaxed lifestyle. However, one of the most common factors that determines when people choose to retire is their age. On page 10 we look at what is the most popular age to retire early. New research reveals the key steps people have taken to embrace early retirement and examines the costs and benefits of doing so.
Invest Your Way Out of Inflation
Welcome to our March/April 2022 magazine. Inside, we look at why now is the time to make sure you protect your wealth. The word ‘inflation’ had barely featured in the market’s vocabulary in the last three decades until it suddenly started to come back with a vengeance in 2021. As higher inflation looks set to persist throughout 2022, on page 09 we consider why finding ways to generate a return on investments greater than inflation will be a key investment theme – otherwise your wealth falls in real terms.
Articles featured in this issue:
Getting ready to retire?
Bolstering your retirement lifestyle as you approach retirement
Invest your way out of inflation
Why now is the time to make sure you protect your wealth
Looking to build a bigger pension?
Don’t miss the deadline to give your pension savings a boost
Improving your financial health
Staying on track to achieving specific financial goals
How much do I need to save to retire?
Questions to help you live your best life in later life
‘Time is money’
5 principles of investing everyone should know
Pension freedoms
You work, you save and then you retire
Investment choices
Behavioural patterns shaping our way of investing, for better or worse
Cost-of-living crunch
Savers still recognise the importance of long-term planning
Disrupting social plans leads to savings surge
Britons saved almost £4bn as a result of the Omicron variant
‘Job for life’ a thing of the past
Most Millennials and Gen Z have two or more pension pots
Roadmap for investors
Increased confidence portfolios will perform well in 2022
Will I be able to retire when I want to?
Financial planning and advice for the ‘unretired'
Inheritance Tax
What will your legacy look like?
How confident are you about your retirement?
Hopes, fears and aspirations of people approaching and in retirement
Smart money habits
Best practice, smart money habits
Extending the scope of the trust register
Deadline for non-taxable trust registrations announced
Unlocking cash from the value of your home
Homeowners release a record-breaking £4.4bn in property wealth
2021/2022 Tax Year-End Planning
Protect yourself, your family and your future
As another tax year end approaches, it’s important to finalise your 2021/22 tax planning to reduce your obligations wherever possible.
The current tax year started on 6 April 2021 and ends on 5 April 2022.
Reviewing your tax affairs now will enable you to make the most of any allowable deductions and strategies available to minimise or mitigate a potential tax burden.
Identifying any tax planning opportunities
Check your PAYE tax code
Transfer part of your personal allowance
Contribtue up to £9,000 into your Child's Junior ISA
Utilise Capital Losses
Maximise Pension Contributions
Pay Pension Contributions to save NICs
Make a Will
Leave some of your estate to charity
Make regular IHT Free Gifts
Use the IHT Marriage Exemption
UKRAINE - RUSSIA CRISIS
UKRAINE - RUSSIA CRISIS
Why investors should take a long-term perspective and not panic
On the 24 February the Russian President, Vladimir Putin, ordered a military invasion against Ukraine. A war that many considered unthinkable had begun. Russia’s invasion of Ukraine has sent shockwaves through pretty much every asset class across the globe.
But if you are a long-term investor the best course of action for most individual investors is to keep calm and carry on.
Selling into a falling market is the opposite of what successful investors do. Equally important is the fact that no one knows what Russia’s invasion of Ukraine ultimately means for everything from energy prices to monetary policy. And then there’s the case that, historically speaking, stocks tend to recover quickly after being derailed by international turmoil.
New Year's Tax Savings Resolutions
Welcome to our latest edition. Inside, we look at New Year’s tax saving resolutions to make sure you are fully utilising your relevant tax planning opportunities. With the tax year end (5 April) on the horizon, taking action now may give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions. On page 08 we have provided some key tax and financial planning tips to consider prior to the end of the tax year. Now is also the perfect time to take a wider review of your circumstances and plan for the year ahead.
Adult social care charging reform
What will the government’s proposals mean for the social care system?
Improve your financial life
Setting a financial New Year’s resolution you’ll actually keep
Beyond profit
How green is your pension?
Get ready to beat the ISA deadline
Time to give your financial future a boost?
New Year’s tax saving resolutions
Make full use of your relevant tax planning opportunities
Time to bring your pensions together?
3.6 million Britons have lost track of their pension savings
It may be time to invest your cash
Is your wealth protected from the damaging effects of inflation?
How much income will you receive from your State Pension?
Knowing what to expect can be an important part of planning for life after work
Create a better world to live and retire in
Pension investments to harness a more sustainable planet
The importance of financial protection
Millions battling with financial hardship, relationship stress and sleepless nights
Across the generations
Pandemic forces people to reassess their finances
Mind the pension gender gap
Women are being urged to think about their long-term savings
Could equity release fund your future?
Freeing up funds or releasing money tied up in your home
Missing midlife workers
Redundancy pushes over-50s out of the workforce
What’s your magic number?
Keeping up your current lifestyle and enjoying your golden years
Live sustainably: how to be a conscious consumer
The everyday choices we make all have impacts on our planet
Saving for a rainy day
What’s the right emergency fund amount for you?
What matters to you?
What you want your wealth to achieve will be unique. It may involve your family, your business and other interests - as well as the social or environmental causes you are passionate about. We can help you achieve the financial future you want for you and your family – please contact us.
Services
Quick links
Information
Contacts
Suite 3.20, 3rd Floor
1-2 Paris Gardens
Southwark
London SE1 8ND