New research has highlighted a growing retirement income gap between men and women, which has been exacerbated by the pandemic. According to the Office for National Statistics (ONS) life expectancy calculator, at age 55: Men have a life expectancy of 84 years, with a 1 in 4 chance of surviving to 92. Women have a […]
HMRC is warning university students to be wary of potential scams, especially if they have a part-time job and are new to interacting with the department. HMRC is warning university students to be wary of potential scams, especially if they have a part-time job and are new to interacting with the department. University students taking […]
Of all the financial challenges and concerns that we face over our lifetimes, avoiding running out of money in retirement probably sits at the top of the list. No-one wants to end up relying on meagre state benefits and eating own-brand baked beans every day. Retirement Rule 1 is crucial but not guaranteed. As Warren […]
INVESTING FOR THE FUTURE Most parents want to help their children financially, whether it is making sure there is enough money for their education or eventually helping them to buy a property. An early objective as they grow up may well be to help children understand the value and importance of money. Whatever the reason, […]
New HMRC statistics show the lifetime allowance continues to be a useful revenue earner for HM Treasury, but rumoured cuts at the next Budget could be a concern for soon-to-be retirees. In the March Budget, the Chancellor announced that he would be freezing the pension lifetime allowance (LTA) at its 2020/21 level of £1.0731 million […]
A recent Upper Tribunal case has raised questions about HMRC’s approach to collecting tax on child benefit. Child benefit tax, or the High-Income Child Benefit Charge (HICBC) to use its legal name, has a chequered history. The HICBC was introduced in January 2013 as a mechanism for clawing back child benefit from high-income couples, […]
