Pension Puzzle
RESEARCH HIGHLIGHTS THE GENDER DISPARITY IN FINANCIAL ENGAGEMENT A recent study has identified an alarming discrepancy in financial confidence between genders. It shows that women are 33% more likely to confess to a lack of understanding about their pension operations[1]. This gap in comprehension could be a potential reason why some women seem less inclined to engage with pivotal financial…
YOUNG VISIONARIES EYE EARLY RETIREMENT
THE POWER OF SMALL CHANGES CAN LEAD TO A PATH TO SIGNIFICANT RETURNS The dream of early retirement is alive and well among the younger generation. Still, to realise this dream, they must prepare to bolster their pension savings by an estimated 15%. A recent study has revealed that approximately one-fifth (17%) of youthful savers aged between 22 and 32…
Spring Budget 2024
On Wednesday, 6 March, Jeremy Hunt, the Chancellor of the Exchequer, addressed the Commons to deliver the Spring Budget 2024. The Chancellor made a significant announcement, revealing a further 2p cut in Class 1 National Insurance Contributions (NICs). He said this move is part of his strategy to support families through ‘permanent cuts in taxation’, demonstrating a commitment to long-term…
GUIDE TO YEAR-END TAX PLANNING
Planning strategies to consider before 5 April 2024 Welcome to our Guide to Year-End Tax Planning. Have you recently evaluated your personal tax situation? Is your tax structure optimised for efficiency? As we approach the end of the tax year on 5 April 2024, it presents an ideal opportunity to assess and leverage the various allowances and reliefs available to…
GUIDE TO INDIVIDUAL SAVINGS ACCOUNTS
A tax-efficient, flexible method for future planning. Investing in an Individual Savings Account (ISA) is a tax-efficient, flexible method for future planning. One of the most attractive features of an ISA is its tax benefits – it’s immune to both Income Tax and Capital Gains Tax on any growth within the fund or on income you withdraw. This makes contributing…
Estate Management
Curating a plan for the tax-efficient allocation of your assets Regardless of the extent of your accumulated wealth, estate management is vital. This process entails curating a plan for the tax-efficient allocation of your assets in the event of your demise or incapacitation. This subject isn’t exclusive to the affluent. With escalating property values and intricate family scenarios, Inheritance Tax is…
FINANCIAL ASPIRATIONS
10 fundamental principles every investor should adhere to Investing in today’s global geopolitical economic climate can appear daunting due to the constant flood of market news, many investment options and continuously fluctuating market conditions. However, there exist several fundamental principles that every investor should adhere to. These principles aim at building an effective long-term strategy to meet your financial aspirations.…
Financial goals are not a one-size-fits-all
Shaping your future financial security and independence We make countless choices on our unique journeys through life that shape our future financial security and independence. Some of our most significant decisions involve finances – planning for early retirement, purchasing a property or saving for your child’s education. These financial goals represent our personal priorities and targets for spending, saving and investing…
Gap in knowledge and uptake of Power of Attorney
Protecting individuals and facilitating smoother decision-making processes 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. A Power of Attorney, or general Power of Attorney, is suitable for temporary situations when…
Guide to Autumn Statement 2023
The Chancellor of the Exchequer, Jeremy Hunt, unveiled his 2023 Autumn Statement on Wednesday 22 November, alongside an updated economic forecast from the Office for Budget Responsibility. The Statement was centred around ‘growth’, with Mr Hunt leveraging increased tax receipts from a stronger-than-anticipated economy to fund 110 growth-promoting initiatives. Mr Hunt said the government had taken difficult decisions to put…