Time to top up your ISA?
If you’re planning to save into your ISA this tax year, don’t leave it too late and miss out on this great way to save tax-efficiently; remember you can’t carry any unused allowance over to the next tax year, so timing is important. The ISA allowance for the 2018-19 tax year is a generous £20,000 […]
Trends in baby boomer retirement plans
Living through decades of increasing prosperity has undoubtedly given baby boomers a lot of advantages, but they can also face a number of challenges. Today, many feel pressured into working past their normal retirement date, often because of the number of demands being made on their finances by their families. If they are unable to […]
Gifting early to avoid IHT
With the Government announcing a dramatic rise in probate fees, many people are considering reducing the size of their estate to minimise the Inheritance Tax (IHT) and probate fees that will be payable on their death. In the most extreme cases, estates worth over £2 million will pay £6,000 in probate fees, in addition to […]
Number of working women aged 60-64 has doubled
Employment statistics show that more women are staying in the workplace for longer, with 48.5% in this age bracket in employment1, compared with just 23.4% back in 1998. This is attributed variously to the short-notice rise in the state pension age from 60 to 65 or 66 currently affecting many women born in the 1950s, […]
Spring Statement 2019
Chancellor of the Exchequer, Philip Hammond, stood up in Parliament at 12.43pm on Wednesday, 13 March, to deliver his second Spring Statement at an inauspicious time following the House of Commons’ dramatic rejection of the Government’s Brexit deal the previous evening. He commented that: “Last night’s vote leaves a cloud of uncertainty hanging over our […]
Self-employed? Prioritise your pension in 2019
There are now around 4.8m self-employed1, representing around 15% of the UK workforce. Being your own boss brings freedom but could mean that you won’t have a workplace pension scheme to rely on when you retire. A recent nationwide study2 revealed that many self-employed people aren’t making provision for their retirement years. More than two-fifths (43%) […]
How to side-step retirement remorse
The good news is that most pensioners thoroughly enjoy the freedom that retirement brings. They can pursue their hobbies, take more holidays and spend more time with their family and friends. When people have regrets, it’s often to do with the way they planned for their retirement and the decisions they did or didn’t take […]
Shared ownership and tax relief
Shared ownership involves buying a share in a property and renting the rest. It’s a cost-effective way for first-time buyers to get a toehold on the property ladder. The Chancellor’s 2018 Budget included plans to correct an anomaly from his previous Budget by cutting stamp duty for first-time buyers of shared ownership properties worth up […]
First-time buyers get two more years to benefit from Help to Buy
Under its Help to Buy scheme, the Government offers first-time buyers and second-steppers a loan of up to 20% of the price to buy a new-build property of up to £600,000. A London-only version of the scheme provides 40% equity loans. Changes announced in the Budget The 2018 Budget contained details of how the Government’s […]