Did you know pensions usually sit outside your will? That’s why it’s vital to name and regularly review your pension beneficiaries and tell loved ones where to find the paperwork. Most people expect that if they still have money left in their pension pots when they die, their spouse or children will inherit it. While you can pass on a pension, you cannot do so solely through your will. Instead, most people will need to tell their pension provider who to pay their pension to when they die through an expression of wish form. Have a read of this helpful article from Money Week to learn how to pass on your pension. ... See MoreSee Less
The Government is said to be considering upping the income threshold at which earners start paying tax. New Budget measures may boost the tax-free income threshold — a potential win for savers and retirees. If changes go ahead, this could affect how you prioritise pensions, investments and tax-efficient wrappers. Here The Daily Mail examines what the personal allowance is, why frozen thresholds are problematic, what might be announced in October's Budget, how the rumoured change would affect your pay and how Labour would fund the increase. ... See MoreSee Less
Rising mortgage rates are putting pressure on household budgets as borrowing costs climb toward 5%. New analysis shows a huge number of homeowners face a mortgage reckoning as they come to the end of their sub-2 per cent five-year fixed rates over the coming months. There are hundreds of thousands of households who locked into cheap five-year deals in 2021 and the first half of 2022 who now face higher rates when they come to remortgage. Have a read of this analysis from The Daily Mail and to find out what you can do if you're facing higher rates. ... See MoreSee Less
Homeowners face a mortgage reckoning as they come to the end of their sub-2 per cent five-year fixed rates over the coming months, new analysis has shown.
Thinking ahead can protect more of what you leave behind. Simple steps — timely gifting, reviewing beneficiary rules, and the right investment wrappers — can make a big difference. However, if one of Britain's most unpopular taxes were scrapped, experts say new taxes would be needed to protect the revenue stream. Have a read of this interesting article from i News to learn about the discussions that are circulating. ... See MoreSee Less
The run-up to a Budget often prompts people to think about tax and their finances. While future tax policy remains uncertain, understanding the rules that apply today can help avoid costly surprises. CGT rules can be complex and changing — from allowances to reporting deadlines, it’s easy to miss something that leads to an unexpected tax bill. Have a read of this article from The Herald to learn when a CGT bill might arise and what to do about it. ... See MoreSee Less
Budget rumours can spark knee-jerk reactions — and costly mistakes. Speculation about pensions, capital gains and ISAs is already running ahead of the Budget on 28 October. Some of it may turn out to be right. But the problem is, nobody knows for certain. Before making any changes based on budget rumours, check the facts and consider the long-term impact. Check out this important article from Money Week for more information. ... See MoreSee Less
Speculation about pensions, capital gains and ISAs is already running ahead of the Budget on 28 October. Some of it may turn out to be right. The problem is, nobody knows which, says Robin Powell.
Personal tax allowances are under the spotlight as calls grow to raise the £12,570 threshold which has been frozen since 2021 and is currently due to remain at that level until April 2031. A new petition claims the freeze could leave families facing an increasing tax burden as wages rise, because more of their income can be dragged into taxation while the amount they can earn tax-free stays unchanged. Have a read of this article from The Herald for what we know so far. ... See MoreSee Less
Could interest rates rise in the future? The Bank of England has kept rates on hold at 3.75%, but the latest announcement highlights ongoing inflation concerns. This article explains the decision and the outlook discussed by policymakers. For more information, read this article from Mirror. ... See MoreSee Less
A number of aspects have prompted many savers to reassess where they hold their savings. Finance experts have said attractive interest rates, surging stocks and a tightening tax environment have encouraged ISA subscriptions with stocks and shares ISA's seeing a 19.7% annual increase. Have a read of this insightful article from The Independent to learn more about how ISA's could be the right tax-efficient savings solution for you. ... See MoreSee Less
Did you know pensions usually sit outside your will? That’s why it’s vital to name and regularly review your pension beneficiaries and tell loved ones where to find the paperwork. Most people expect that if they still have money left in their pension pots when they die, their spouse or children will inherit it. While you can pass on a pension, you cannot do so solely through your will. Instead, most people will need to tell their pension provider who to pay their pension to when they die through an expression of wish form. Have a read of this helpful article from Money Week to learn how to pass on your pension. ... See MoreSee Less
Why can’t you leave your pension in a will?
sprou.tt
You can leave your private pension wealth to your loved ones after you die, but you can’t put it in your will. We look at how to pass on your pension.Comment on Facebook
The Government is said to be considering upping the income threshold at which earners start paying tax. New Budget measures may boost the tax-free income threshold — a potential win for savers and retirees. If changes go ahead, this could affect how you prioritise pensions, investments and tax-efficient wrappers. Here The Daily Mail examines what the personal allowance is, why frozen thresholds are problematic, what might be announced in October's Budget, how the rumoured change would affect your pay and how Labour would fund the increase. ... See MoreSee Less
Could the personal allowance rise to £15,570 in the Budget?
sprou.tt
The Government is said to be considering upping the income threshold at which earners start paying tax from £12,570 to £15,570.Comment on Facebook
Rising mortgage rates are putting pressure on household budgets as borrowing costs climb toward 5%. New analysis shows a huge number of homeowners face a mortgage reckoning as they come to the end of their sub-2 per cent five-year fixed rates over the coming months. There are hundreds of thousands of households who locked into cheap five-year deals in 2021 and the first half of 2022 who now face higher rates when they come to remortgage. Have a read of this analysis from The Daily Mail and to find out what you can do if you're facing higher rates. ... See MoreSee Less
The mortgage reckoning as borrowers jump from 1% to 5% rates
sprou.tt
Homeowners face a mortgage reckoning as they come to the end of their sub-2 per cent five-year fixed rates over the coming months, new analysis has shown.Comment on Facebook
Thinking ahead can protect more of what you leave behind. Simple steps — timely gifting, reviewing beneficiary rules, and the right investment wrappers — can make a big difference. However, if one of Britain's most unpopular taxes were scrapped, experts say new taxes would be needed to protect the revenue stream. Have a read of this interesting article from i News to learn about the discussions that are circulating. ... See MoreSee Less
Five alternatives to inheritance tax - and what they'd mean for you
sprou.tt
If one of Britain's most unpopular taxes were scrapped, experts say new taxes would be needed to protect the revenue streamComment on Facebook
The run-up to a Budget often prompts people to think about tax and their finances. While future tax policy remains uncertain, understanding the rules that apply today can help avoid costly surprises. CGT rules can be complex and changing — from allowances to reporting deadlines, it’s easy to miss something that leads to an unexpected tax bill. Have a read of this article from The Herald to learn when a CGT bill might arise and what to do about it. ... See MoreSee Less
The capital gains tax surprises that catch people out
sprou.tt
Capital gains tax bills can arise when selling or gifting assets. Here’s what can trigger CGT, the current allowances and how to avoid costly…Comment on Facebook
Budget rumours can spark knee-jerk reactions — and costly mistakes. Speculation about pensions, capital gains and ISAs is already running ahead of the Budget on 28 October. Some of it may turn out to be right. But the problem is, nobody knows for certain. Before making any changes based on budget rumours, check the facts and consider the long-term impact. Check out this important article from Money Week for more information. ... See MoreSee Less
Why you shouldn’t act on Budget rumours
sprou.tt
Speculation about pensions, capital gains and ISAs is already running ahead of the Budget on 28 October. Some of it may turn out to be right. The problem is, nobody knows which, says Robin Powell.Comment on Facebook
Personal tax allowances are under the spotlight as calls grow to raise the £12,570 threshold which has been frozen since 2021 and is currently due to remain at that level until April 2031. A new petition claims the freeze could leave families facing an increasing tax burden as wages rise, because more of their income can be dragged into taxation while the amount they can earn tax-free stays unchanged. Have a read of this article from The Herald for what we know so far. ... See MoreSee Less
Families face tax squeeze as £12,570 Personal Allowance stays frozen
sprou.tt
The £12,570 Personal Allowance is frozen until 2031. A new petition is calling for it to rise automatically with inflation or wages.Comment on Facebook
Could interest rates rise in the future? The Bank of England has kept rates on hold at 3.75%, but the latest announcement highlights ongoing inflation concerns. This article explains the decision and the outlook discussed by policymakers. For more information, read this article from Mirror. ... See MoreSee Less
Bank of England holds base rate at 3.75% but warns it could rise in future
sprou.tt
The base rate impacts the interest you pay on mortgages, credit cards and loans, as well as the return you get on your savingsComment on Facebook
A number of aspects have prompted many savers to reassess where they hold their savings. Finance experts have said attractive interest rates, surging stocks and a tightening tax environment have encouraged ISA subscriptions with stocks and shares ISA's seeing a 19.7% annual increase. Have a read of this insightful article from The Independent to learn more about how ISA's could be the right tax-efficient savings solution for you. ... See MoreSee Less
Isa subscriptions jumped amid ‘attractive’ savings returns on offer
sprou.tt
Finance experts said attractive interest rates, surging stocks and a tightening tax environment have encouraged Isa subscriptions.Comment on Facebook