Five reasons to make a Lasting Power of Attorney
A lasting power of attorney (LPA) gives someone you trust the legal authority to make decisions on your behalf if you are no longer able to do so. It is a simple way to stay in control of your future—whatever life brings. Here are five key reasons to make a lasting power of attorney: 1. […]
Can a Lasting Power of Attorney be abused?
Frances Macdonald, Senior Associate at Tees, outlines key steps you can take—supported by your solicitor—to reduce the risk of abuse when setting up a Lasting Power of Attorney (LPA). Is a Lasting Power of Attorney safe? Retired senior judge of the Court of Protection, Denzil Lush, caused concern during a BBC Today programme interview when he suggested […]
Economic Review February 2025
Key takeaways: UK economic output unexpectedly rose by 0.1% in the fourth quarter of 2024 Bank of England will be ‘careful’ about reducing Bank Rate due to a spike in inflation Retail sales volumes rose by 1.7% in January, bouncing back from December’s 0.6% decline Growth stronger than expected in late 2024 Data released last […]
December 2024: Inflation rises, growth stalls, markets shift
Headline inflation at eight-month high Release of the latest inflation statistics showed consumer prices are now rising at their fastest rate since March 2024, while last month also saw Bank of England (BoE) policymakers become more divided over the need to cut interest rates. Data published by the Office for National Statistics (ONS) showed the […]
10 great financial advice tips for efficient money management
As wealth management specialists, we are often asked, ‘Where and how do I start with my money?’ or told, ‘I never seem to have money when I need it’. Understanding how to hold and manage our hard-earned wealth is key to ensuring that we always have funds when needed. Understanding the basics of money management is […]
The biggest financial asset: Protection
What comes to mind when considering an individual’s biggest financial asset? A house? Investments? Perhaps a classic car like the Ferrari 250 GTO? Surprisingly, the most significant financial asset is often overlooked: yourself! For business owners and employees alike, the knowledge, skills, and effort you bring to the table are what drive your income and wealth. […]
Economic review – November 2024: Gradual shifts amid growing challenges
Interest rates set to fall more gradually Last month, the Bank of England (BoE) cut interest rates for only the second time since 2020 but also warned future reductions were likely to be more gradual due to the prospect of inflation creeping higher next year. Following its latest meeting, which concluded on 6 November, the […]
Economy set for short term Budget boost
Economic review October 2024 New economic projections produced by the Office for Budget Responsibility (OBR) suggest the Labour administration’s first Budget will provide only a ‘temporary boost’ to UK economic output. Chancellor Rachel Reeves revealed the independent fiscal watchdog’s latest forecast during her Autumn Budget delivered to the House of Commons on 30 October. The […]
Chancellor Rachel Reeves’ first budget: New policies to boost UK economy
“Our mission to grow the economy” Chancellor of the Exchequer, Rachel Reeves, delivered the Labour government’s first Budget on 30 October with a promise to “restore economic stability” and “invest, invest, invest” to promote growth. In her statement, she outlined a number of new tax and spending measures that she said would create “an economy […]
UK economic growth forecast upgraded
Economic review September 2024 On markets at the end of September, with investors and traders closely monitoring regional developments. At month end, stocks retreated following implications from Federal Reserve Chairman Jerome Powell that further interest rate cuts are likely to occur at a more measured pace. Across the pond, the Dow Jones closed the month […]
Energy price cap increase: A new challenge for UK households
As another autumn approaches, UK households are bracing for another blow to their finances. The energy price cap, which sets a maximum price that suppliers can charge for electricity and gas, is set to increase by 10% from October, meaning that millions of households will see their energy bills rise significantly. The combined impact of […]
Planning ahead: learn about types of pensions
Your guide to retirement planning Pensions can be complicated because there are different types of pensions, and different rules that govern them, plus also lots of options for what you can do with a pension when you want to use the money. It’s worth understanding the main concepts so that you can make choices that […]
