We’ve put together a guide to saving and investing for a child’s future and ensuring your children or grandchildren can get the best financial start in life. Whether you want to teach your children or grandchildren smart money-management strategies, help them pay for university or set them up for financial success as adults, it’s important…
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We’ve put together 5 tips to teach your child about money. Understanding how money works is an essential life skill. Unfortunately, for a lot of people, these lessons come later than they should, and often as the result of something going terribly wrong. Not enough people make financial education a priority for children, which results…
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The early retirement dream lives on, but at what cost? Whether you choose or need early retirement, having a plan can give your money the best chance of lasting the distance. Whether lifestyle preferences or circumstances beyond your control are behind your decision to retire early, you’ll need to make a plan to help your…
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The future of work is coming as we look at the tangible benefits older workers bring to the workplace. The days of an employee turning 65, getting a gold watch or carriage clock and being ushered into a new world of golf, retirement communities and early-bird specials are rapidly disappearing. People are living longer and…
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Don’t be penalised by the tax system when you exercise your freedoms. The ‘pension freedom’ reforms of 2015 were welcomed by consumers, as they vastly widened options available to most savers at retirement. Pensions freedoms allow savers to have the flexibility on how and when to spend their money without being penalised by the tax…
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Welcome to the latest edition of our financial TIPS magazine. Inside this issue we look at a number of the topical financial planning stories making the news agenda. Creating and maintaining the right investment strategy plays a vital role in securing your financial future. But we live in the era of the 24-hour news cycle,…
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Drawdown allows most pension holders to withdraw a tax-free lump sum and reinvest the remainder as an income. But hundreds of thousands of DIY drawdown investors are unaware they can scale back or stop their withdrawals, putting them in danger of draining their retirement savings too rapidly, according to new research [1]. Half (52%) of…
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Trusts are not a one-size-fits-all solution, but they are incredibly useful for protecting and giving you control over your assets. Appropriate trusts can be used for minimising or mitigating Inheritance Tax estate taxes, and they can offer other benefits as part of an integrated and coordinated approach to managing wealth. A trust is a fiduciary…
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The Inheritance Tax residence nil-rate band (RNRB) came into effect on 6 April 2017. The RNRB provides an additional nil-rate band where an individual dies on or after 6 April 2017, owning a residence which they leave to direct descendants. During the 2019/20 tax year, the maximum RNRB available is £150,000. This rises to £175,000…
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Some people like to transfer some of their assets whilst they are alive – these are known as ‘lifetime transfers’. Whilst we are all free to do this whenever we want, it is important to be aware of the potential implications of such gifts with regard to Inheritance Tax. The two main types are potentially…
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We’ve put together a list of 6 things you need to help to preserve your wealth. Whether you have earned your wealth, inherited it or made shrewd investments, you will want to ensure that as little of it as possible ends up in the hands of HM Revenue & Customs. With careful planning and professional…
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We all have dreams for the future, and many of those dreams require money and planning to make them become a reality. Reaching those milestones starts with setting clear financial goals. Making decisions with a clear endpoint in mind can make it easier to achieve financial security and allow you to enjoy your life to…
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