The arrival of the new tax year on 6 April means it is time to consider your Individual Savings Accounts (ISA) investments, which will celebrate their 20th birthday in April. Over the last 20 years, the maximum annual contribution has risen from £7,000 per tax year to £20,000 for 2019/20. If you managed to set […]
Recent research1 shows that some people could be sleepwalking their way towards a financially-bleak retirement. A survey conducted by Aegon2 found that less than a fifth of adults aged 55-64 have more than £300,000 in their pensions – the approximate amount widely considered to be necessary for someone on an average salary to maintain their […]
One of the few certainties about 2019 is that the new tax rates and thresholds will take effect from the start of the 2019/20 tax year on 6 April. Whilst the focus tends to be on year end tax planning at this time of year, it is important to look forward to the new […]
Inheritance tax (IHT) will be slightly reduced for some from 6 April 2019, but greater reforms may arrive soon. The IHT residence nil rate band (RNRB) increases by £25,000, bringing it to £150,000 for the 2019/20 tax year. In theory that means a married couple can pass on up to £950,000 (2 x nil […]
An issue concerning how the high income child benefit charge (HICBC) can potentially affect stay-at-home parents has emerged. The HICBC claws back child benefit payments where either parent has income over £50,000 a year, and removes the benefit entirely if either parent has income over £60,000. For couples where one person earns over £60,000 whilst […]
Home insurance acts like a financial shock-absorber and protects thousands of families each year from unexpected and unwelcome loss, damage and expense. Whilst standard policies can cover buildings and all the things kept in a home such as TVs, furniture, carpets and personal belongings, your adviser can also help you choose additional cover for specific […]
