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As life expectancy in the UK continues to rise, financial planning is becoming increasingly important. If you are thinking of saving for retirement, then you might consider a pension to be the best way to ensure you have enough to live on when you are older. However, this is not the only way to achieve your retirement goals, and Individual Savings Accounts (ISAs) can form a use ...

Tax

On Wednesday 12 April 2017 we held a Cake Bake in aid of our sponsored charity, Marie Curie, at our offices in Weybridge. The theme this time was “The Big Easter Bake”.  Savoury and sweet entries were encouraged and there were an impressive array of entries, many with Easter themes – a lot of little chicks and a show-stopper, multi-layered (no pun intended!) egg-shaped cake.  ...

Whenever you start thinking about retirement planning, it is worth beginning by working out how much income you think you are going to need. Generally, few people need as much income in retirement as they did when working; nevertheless, with more leisure time available, you may have some ambitious plans for travel or family. All these expectations need to be considered carefull ...

Sometimes, having owned your Individual Savings Account (ISA) for a few years, you might notice that the underlying investments no longer give you what you need. Alternatively, because your circumstances have changed, you might wish to switch to another ISA provider with a wider choice of funds. How can you shift your investment without jeopardising the tax benefits? You can t ...

ISA

Inheritance tax (IHT) allowances have failed to keep pace with house prices and many more people now have to consider the IHT burden they leave to their beneficiaries. In the current tax year 2017/18, your individual IHT allowance stands at £325,000 (£650,000 for married couples and civil partners), with an additional “main residence nil-rate band” of £100,000 per person that w ...

IHT

In the complex world of investment, timing appears to be crucial. However – unless you are gifted with foresight – you cannot consistently predict what the stock market will do. This presents a problem for investors: not only to decide when to invest, but also when eventually to pull their money out of the market. This is where the benefits of 'pound-cost averaging' – or, in la ...

Individual Savings Accounts (ISAs) are tax-efficient savings vehicles that allow you to save and invest without having to pay income tax or capital gains tax. They can be a good way for people to start saving or to add to their existing portfolio of savings and investments. The ISA allowance for the 2017/18 tax year has risen from £15,240 to £20,000, offering a welcome additio ...

ISA

It was announced in the Budget that the Dividend Allowance will be reduced from £5,000 to £2,000 from April 2018. Dividends received by an individual are subject to special tax rates. The first £5,000 of dividends are charged to tax at 0% (the Dividend Allowance). Dividends received above the allowance are taxed at the following rates: 7.5% for basic rate taxpayers 32.5% f ...

One of the significant announcements Chancellor Philip Hammond made on Budget Day was the proposed increases to the main rate of Class 4 National Insurance Contributions (NICs) paid by self-employed individuals from 9% to 10% from April 2018 with a further increase planned from 10% to 11% from April 2019. The Chancellor subsequently announced that the government will not now p ...

Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, will be launched from 28 April 2017. For every £8 a parent pays in, the government will pay in an extra £2. Parents can receive up to £2,000 per child, per year, towards their childcare costs making a total amount of £10,000. Higher limits of £4,000 and £20,000 apply for disabled ...

Tax