Pension planning during times of uncertainty
There have been various difficulties in recent years, affecting the UK economy that have had an impact on pension savers. These include Brexit, the COVID-19 pandemic, the conflict between Russia and Ukraine as well as political instability in Westminster. These events have caused turbulence in the markets, leading to a decline in share prices and […]
Investing for the long term – lessons from the past
The emergence of COVID-19 brought a rapid end to the drawn-out recovery of major stock markets from the share price lows associated with the financial crisis a decade ago. When the scale of the threat to lives and livelihoods became apparent, market analysts and investors reassessed the global economic outlook and corporate prospects; they didn’t […]
How inflation impacts your finances
Following a sustained period of historically low inflation, the recent upsurge in price pressures has vividly highlighted the impact inflation can wreak on people’s finances. A sharp rise in the cost of living effectively takes a large chunk out of the purchasing power of money and thereby erodes the real value of cash savings. It […]
Use your will to save inheritance tax
The question of how to structure your will is a complex one involving consideration of a range of different factors. Married couples with significant assets should consider the option of using an appropriate will trust on first death due to the tax planning opportunities available. What is the inheritance tax nil rate band? The inheritance […]
Will trusts can help you protect your loved ones
Trusts often get bad press, being portrayed by some as vehicles to help the super-rich to avoid tax. While trusts can legitimately save tax for many people (most of whom are not super-rich!) their purpose is often to protect the position of loved ones. Making a will involves consideration of many different factors and you […]
Use your will to protect your business from inheritance tax
People with assets that qualify for business property relief (BPR) or agricultural property relief (APR) can often save significant amounts of inheritance tax with appropriately structured wills. BPR and APR offer valuable inheritance tax relief for qualifying assets. In some cases, only one of the reliefs applies; in others, both may be available. What is […]
Do I need to register my Trust with HMRC?
Changes to the law have significantly expanded the scope of trusts that need to be registered on the HMRC Trust Register. Trusts affected by the new changes must register with TRS by 1 September 2022. Following the Fourth Money Laundering Directive, a Register of Trusts, maintained by HMRC was introduced, which is known as the […]
Capital Gains Tax on property
Latest update following the budget announcement In the Autumn Budget 2021 the chancellor avoided making increases to capital gains tax on property. Instead he offered some good news by extending the reporting and payment deadline for UK residents disposing of UK residential property that results in a CGT liability. You now have 60 days from […]
Do I have to sell my home to pay for care?
The Government’s proposed reforms to health and social care will still leave many people having to pay large amounts in care home fees. However, these costs can often be reduced or even avoided altogether with appropriate planning. This article looks at the rules in England; the rules in different parts of the UK may be […]
Ensuring your business is protected during uncertain times
Businesses across many different sectors are slowly getting back on their feet as the economy continues to improve following the pandemic. This crisis has shown that in times of great challenge, your employees – their skills, knowledge and understanding of how your business ticks – are essential to keeping your business running. So looking after your employees and […]
Advice to young farmers on taking over the family farm
If you’re a young farmer who is in line to inherit your family’s business, taking the farm successfully forward into the next generation can feel overwhelming. In this guide, we provide you with an overview of the many ways you can prepare yourself to run the family business, embrace new methods of working and protect […]
What is pension drawdown and how does it work?
Pension (or income) drawdown is one of the ways you can use your pension pot to provide a regular income when you reach retirement. Drawdown is a flexible way of accessing your pension, while allowing your pension fund to keep growing. Here, we explain exactly how drawdown works and whether it’s right for you. Pension […]
