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Articles of interest

Changes to the State Pension
‘Triple Lock’ to increase by 8.5% from 6 April 2024. The State Pension is set to increase commencing on 6 April 2024 due to a mechanism known as the ‘Triple Lock’. Chancellor Jeremy Hunt has announced an increase of 8.5%, which pensioners will welcome. The State Pension is a recurring benefit paid out every four weeks by the government. This payment is made available to individuals who have reached the qualifying age and have sufficiently contributed to National Insurance. Changes

National Insurance Contributions (NICs)
Significant reforms and rates cut for millions of workers. National Insurance is a cornerstone of the welfare and benefits system. As a citizen, your contributions will likely play a significant role in funding state provisions such as pensions, maternity leave, and bereavement support. If you’re over 16, under the state pension age, and either employed or self-employed, chances are you’re making National Insurance Contributions (NICs). The amount of NICs you’re required to pay is contingent upon your earnings and employment

Time to kickstart your retirement plans?
How to get your retirement plans in motion. Retirement signifies a well-deserved achievement, a significant turning point in life. It should be a period of anticipation and joy, an opportunity to indulge in activities that bring happiness and contentment. Currently, retirement is marked by increased flexibility in accessing your pension savings. While this offers many choices, it also gives rise to numerous queries. Retirement planning, accompanied by crucial decision-making and understanding various options, might seem daunting, especially with the escalating

Our apprentice Callum graduates to full member of the team
Our apprentice Callum graduates to full member of the team after achieving a distinction in his Level 3 Business Administration course.

The Family Bank
Planning to aid the next generation. According to new research, close to one in five (18%) of parents and grandparents have dipped into their own property wealth to assist their family members in climbing onto the property ladder [1]. Often, they turn to the equity of their homes to gather the needed funds, either through equity release, downsizing, or remortgaging. This group, affectionately known as the ‘Bank of Family’, is increasingly leveraging their property wealth to aid their children’s entry

Aspiring towards retirement
Why many people experience a mixed bag of emotions on the subject. Retirement is often envisioned as a time to unwind and indulge in our passions after years of hard work. However, recent research indicates that many individuals feel apprehensive about retiring due to financial and emotional concerns[1]. The rise of ‘retirement anxiety’ The escalating cost of living is putting a strain on income and savings, leading to a growing phenomenon we call ‘retirement anxiety’, particularly among those over 40.

Journey to monetary autonomy
Optimising your finances and formulating an all-encompassing wealth plan for the future. Everyone is entitled to monetary autonomy, and maintaining financial wellness throughout life is more of a marathon than a sprint. One must deeply grasp one’s financial status to reach short-term and long-term objectives. To optimise your finances and formulate an all-encompassing wealth plan for the future, we have created a guide that will enable you to understand your finances better and boost your financial fitness. Understanding your financial

‘Time in the market’, not ‘timing the market’
The allure of quick profits and instant gratification. In the investing world, the allure of quick profits and instant gratification often tempt some investors to employ a ‘market timing’ strategy. This method involves buying or selling financial instrument decisions based on predictions of future market price movements. Ironically, numerous studies and historical data have shown that this approach often leads to sub-optimal returns. Market timing is an active investment strategy aiming to beat the traditional buy-and-hold strategy. It involves moving

A crucial decade: financial planning in your 50s
Maximising your earnings or laying down a robust financial plan. As you sail into your 50s, it becomes pivotal to consider your financial strategy. Life has likely found a steady rhythm by now. Children have probably taken flight, becoming financially self-sufficient, and the idea of reducing work hours or even completing retirement starts to surface. Each person’s life journey is unique and has different resources and challenges. However, there are shared goals and steps that one can take during this

Decoding auto-enrolment
Good news on the horizon for future retirees. For employees, auto-enrolment is a crucial component of everyone’s retirement strategy. Understanding auto-enrolment becomes critical as we increasingly know the need for adequate retirement preparation. Historically, while some companies offered their employees the chance to contribute to a pension fund for retirement preparation, others did not. To facilitate and promote more significant savings, the government implemented legislation for automatic enrolment, or “auto-enrolment”, in October 2012. This mandated all employers to offer a

Strategies to minimise retirement tax
Many pensioners may face a lurking tax risk as the State Pension grows. Many pensioners may face a potential tax pitfall as the State Pension escalates and Income Tax bands remain fixed. Pensioners are set to see a substantial increase in their income next year. The State Pension is projected to rise by 8.5% in April 2024, following a 10.1% increase in April 2023. This is due to the government’s ‘triple lock’ mechanism, which guarantees that the benefit increases in

Taxing times for 2023
A year marked by several tax changes that impacted higher-rate taxpayers. As we approach the end of the year, taxpayers should begin assessing their tax obligations. This is not a task to be left to the eleventh hour, especially considering tax changes coming into effect in 2024. This is also particularly true for 2023, a year already marked by several tax changes that impact higher-rate taxpayers. By understanding your tax obligations early on, you could avoid unwelcome surprises. Understanding these