The residential nil rate band, also known as the RNRB, is a relatively new addition to UK inheritance tax law. It was introduced in April 2017 and provides an additional allowance for individuals who leave their main residence to a direct descendant upon their death. The RNRB is in addition to the standard inheritance tax […]
Monthly archives: April 2023
Rising prices add almost 20% to retirement costs
It can be difficult to understand what funds you’ll need to finance the retirement you dream about and how this compares to your projected pensions income. It’s even harder to keep track when the cost of living is spiralling. Setting standards The Pensions and Lifetime Savings Association (PLSA) developed its Retirement Living Standards1 to help […]
Mortgage holders impacted as Bank Rate rises again
Rising rates have been a feature of the mortgage market for almost a year. Following the latest Bank Rate rise, how should mortgage holders react? What happened? With Bank Rate at its highest level in 15 years, in the short term, this will affect anyone with a tracker or variable rate mortgage through higher repayments. […]
Investor confidence returns
A recent survey1 suggests investors are becoming more confident despite ongoing challenges on the economic front. While this is certainly encouraging, maintaining a long-term outlook and retaining a strong sense of discipline in investment positioning remains a prerequisite for any successful investor. An air of optimism It’s fair to say 2022 was a turbulent year […]
Take advantage of the new tax year
A new tax year has begun and with it comes the chance to start your tax planning early, but why rush when there’s almost a year to go? Here are a few reasons: Why not get the new tax year off to the best start – get in touch. 1Vanguard, 2023 The value of investments […]
How to sell your house this spring
If you’re planning to put your home up for sale, there’s a lot to think about right now. As the first daffodils start to bloom across gardens and verges, the housing market usually blossoms too. In 2023, with expectations of slowing demand and house price falls, it has never been more important to focus on […]
Spring Budget 2023 – key points
Chancellor Jeremy Hunt delivered the Spring Budget on 15 March declaring it to be “A Budget for Growth.” The fiscal update included a range of new measures, starting with the latest economic projections from the Office for Budget Responsibility (OBR): The Chancellor’s strategy for growth focuses on four pillars ‘Everywhere, Enterprise, Employment and Education.’ Key […]
Downsizing on the up
Cost-of-living difficulties are forcing people to reconsider their housing situations, with a new survey1 showing that three in ten UK homeowners are considering saving money by moving to a smaller property, relocating or living with others. Race for space? After the pandemic-induced race for space, downsizing is back on the cards. Almost one in five […]
Do I need to insure my solar panels?
More people are installing solar panels to their homes, spurred on by environmental concerns or the prospect of reduced reliance on the National Grid. Putting thousands of pounds on your roof can boost the value of your property, but do solar panels affect your home insurance? Come rain or… Having emerged in the 1950s, solar […]