Taxing times for 2023 - November 2023
As we approach the end of the year, taxpayers should begin assessing their tax obligations. This is not a task to be left to the eleventh hour, especially considering tax changes coming into effect in 2024.
News
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A timely proposition - November 2023
High-interest rates make gilts an attractive option for some investors, especially higher-rate taxpayers who benefit from the tax exemption from capital gains. What exactly are gilts? These UK government bonds, or debt securities, are issued to finance public expenditure. Their appeal lies in their low-risk nature and guaranteed income.
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Professional financial advice, where’s the value? - September 2023
We readily trust medical professionals with our health and legal professionals with complex legal matters. Yet, some people hesitate when seeking advice on financial matters. This might be attributed to a few different factors.
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Gap in knowledge and uptake of Power of Attorney - September 2023
Recent data highlights a concerning gap in knowledge and the uptake of Power of Attorney in the UK[1]. While 95% of adults know of its existence, only one in three truly understand how it is utilised in practice.
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Preparing the next generation to engage with their finances - September 2023
Passing on the benefit of your experience to your children or grandchildren is crucial for their future success. However, financial planning can be complex, and even the most knowledgeable individuals may need help.
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Retirement cash flow modelling - September 2023
Retirement planning is of utmost importance, regardless of your income or wealth. It ensures a steady income stream after retirement and provides financial security for you and your loved ones.
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Cost of care in later life - September 2023
The costs of care in later life can vary greatly and depend on a multitude of factors. Notably, the type of care required, the individual’s financial situation and their location within the UK play a significant role in determining these costs.
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Saving for the next generation - September 2023
Many parents and grandparents set aside money for the next generation to help with their financial needs. The rising cost of education, housing, and life in general, has created concerns about financial stability for future generations.
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Will you make the right decisions around your pension pot? - September 2023
The announcement of the removal of the Lifetime Allowance (LTA) from the 2024/25 tax year in March’s Spring Budget 2023 has made defined contribution pensions even more appealing for wealth transfer. This benefits individuals over 55 who intend to leave their tax-free lump sum intact with their pension to maximise their benefits.
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Key traits for successful wealth-building - September 2023
Committing to a financial plan is crucial for building wealth and achieving long-term financial goals. When you have a plan, you are more likely to stay focused on your objectives and take the necessary steps to reach them.
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Bonds vs equities - July 2023
UK income-seekers often face the dilemma of choosing between bonds and equities for their investments. Both asset classes have their unique advantages and risks.
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The importance of understanding tax-free pension withdrawals - July 2023
A surprising 43% of individuals over 55 need to be made aware that they can withdraw 25% of their pension pot tax-free, according to recent research[1]. Knowledge could lead to better decision-making when it comes to accessing pension savings.