Divorce is an emotional and stressful period for those who have to go through it, but it’s important that people realise a pension is a valuable asset in divorce. This is particularly problematic given the average age of divorcees, and it is more likely that a woman will not have any sizeable pension of her…
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There are different retirement options available and in his 2015 Spring budget, then-chancellor George Osborne introduced sweeping changes to the way that pensions are taxed. The new pension freedom rules have led to the over-55s being faced with a variety of different choices when taking and investing their nest eggs; £19m is released each day…
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One of the questions our clients almost always asks is are: ‘Will my retirement income be enough to live on comfortably?’ Worryingly, it’s been documented that many Britons aren’t saving enough in their pension for their retirement. Figures published by HM Revenue & Customs (HMRC)[1] in September 2019 show that the annual average contributions that…
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This article looks at preserving your legacy and how to keep your wealth in the family. Are you worried about leaving an inheritance to your loved ones and then having them pay tax on your legacy? No one likes to think about a time when they won’t be here, but unfortunately the reality is that…
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It’s important to be aware of coronavirus scammers. Scammers are sophisticated and opportunistic and therefor they will try to take advantage of people, especially the vulnerable during the coronavirus. It’s important to remain vigilant to scams and be aware what to look out for as well. Things to look for include: Loan Fee Fraud –…
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This article looks at the importance of portfolio diversification and why you shouldn’t put all your eggs in one basket. Portfolio diversification is the foundational concept of investing. It’s a risk management strategy of combining a variety of assets to reduce the overall risk of an investment portfolio. Traditional wisdom says: don’t put all your…
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Is it time to give your pension pot a boost? Planning for retirement can be both exciting and daunting. It’s essential to structure your affairs to make sure you have enough money when you eventually retire. To give your pension pot a boost, one option to consider if your pension savings are more than your…
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Here we look at the top 4 tips for good tax planning and what you should consider before the end of this tax year. The end of the 2019/20 tax year is fast approaching, and there are a number of valuable allowances and reliefs that will be lost if they are not used before the…
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It is becoming increasingly essential that we take necessary steps to ensure everyone stays healthy and free from the coronavirus, which means moving to home working where possible. Truly Independent advisers are well placed to work from home and most have been working this way for many years, which puts them in a strong position…
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Welcome to the latest edition of our TIPS Financial Magazine for March and April 2020. At the time of writing this issue, Sajid Javid had resigned as Chancellor of the Exchequer with less than a month to go until Budget Day. His replacement, Rishi Sunak, will deliver the budget on 11 March 2020. In our…
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We spend a lifetime generating wealth and assets but not many of us ensure that it will be passed to the next generation – our children, grandchildren, nieces, nephews, and so on. Intergenerational wealth transfer is the passage of wealth from one family generation to the next. It’s becoming increasingly important for more people to…
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Pension consolidation is considered one way of simplifying and maximising retirement benefits. The employment landscape has evolved significantly over the last few decades, and changing jobs multiple times before retirement is now very much the norm. As a result, many people have multiple pensions set up, as they have been automatically enrolled into a new…
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