Blog
We all have heard the phrase ‘Humans are creatures of habit’. However, do habits help or hamper us when we think about money? Habits are behaviours and preferences we develop based on our views and belief systems. They are mental shortcuts or scripts that help us to navigate the world. We all have developed numerous
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Right now, some may wonder if they can get all the rewards of investing without any of the downsides. By this, they may mean they do not want to experience market declines but still want to get a return. Can you do this? Now what I am not going to do is lie and say
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Events have conspired against the lowkey nature of the Chancellor’s Spring Statement. The Ukraine invasion, steep increases in the cost of living and lower than forecast borrowing led to many hoping for major announcements. Highlighting the need for domestic economic stability in a volatile geopolitical landscape, Rishi Sunak laid out the facts: Higher global energy,
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Business Property Relief (BPR) is an Inheritance Tax (IHT) exemption applied to the assets of a private trading business when they pass from one generation to the next. Most shares in private trading companies, or interests in unincorporated businesses such as a sole proprietor, or partner, will receive 100% business relief from IHT after 2
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Life insurance cover is a benefit large companies often offer their staff as a perk. The problem is that for small businesses, the cost of taking out a group insurance scheme may be too expensive. Relevant life insurance is a potential solution that works out much cheaper than taking out cover personally. What is relevant
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Business owners need to make sure their company does not fall foul of Business Property Relief (BPR) rules. Business Property Relief (BPR) is a valuable relief as shares in companies benefiting from it are not subject to Inheritance Tax. Where companies hold substantial amounts of cash, there is a risk of losing this relief. This
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Many initially seek financial advice because they want help with something like a pension or making intelligent investment decisions. However, pensions or investments are only a means to an end which is to help you pursue your goals. An advisor cannot manage a portfolio or create a robust financial plan unless they have a holistic
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According to new research[1], 95% of adults in the UK say they are worried about the anticipated rise in the cost of living in 2022. The expense most UK households are concerned about is the rise in energy bills (92%), with three in ten (29%) being extremely worried about this, followed by food shopping (87%).
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Using pension drawdown in retirement offers lots of flexibility and the potential to keep your pension growing. However, the tax on pension drawdown can get very messy. In many cases, HMRC tax the first pension drawdown payment incorrectly. Having to sort this out can kick start months of toing and froing with HM Revenue and
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When looking at the Lifetime Allowance things are not as simple as they seem. The case study below looks at some of the things to consider. Mr Bloggs is a 57-year-old consultant surgeon with the NHS. His wife is 52 years old and works for a pharmaceutical company, although she also worked within the NHS.
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