Providing for your loved ones after your death. If you’ve spent a lifetime saving for retirement, you’d probably like any remaining money to go to a loved one after your death. But whether pension benefits are payable to a beneficiary, and how they’ll receive them, is dependent on the type of pension you’ve chosen and how you’ve accessed it in your retirement. Thanks to changes in the way that pensions are taxed, more of your fund can survive your death

Planning ahead for your financial future together. Some couples may prefer to keep their finances separate, while others share everything. Whichever method you’ve chosen, when it comes to retirement saving, it’s worth planning together to ensure you’ve made the most of all the allowances and benefits offered to couples. Your golden years may ultimately be the best of your relationship if you understand each other’s future goals, needs and expectations. Set your budget The first step of planning for retirement

10 ways to protect your estate for your loved ones. Even those who believe they have moderate wealth levels may still need to take action to minimise Inheritance Tax, particularly if they own property and have savings and investments. Inheritance Tax is payable in the UK on death, and sometimes when you give away certain assets during your lifetime. It can be a great concern for individuals with wealth exceeding the current £325,000 nil-rate band (2020/21 tax year). Naturally, you’ll

Invest today. Change tomorrow. Responsible, sustainable and environmentally friendly investing is here to stay. But, while demand is growing among all age groups, genders and income bands, some savers and investors are missing their biggest opportunity for responsible investing, which is through their pension. We all want to make responsible choices as more of us are becoming aware of global challenges, such as environmental issues, human rights and climate change. We’re also starting to care more about how our behaviours

Identifying the best options to preserve your wealth. No one likes to pay tax on their hard-earned money. But due to the complexities of the tax system, without expert professional financial advice, some individuals could be paying more tax than necessary. Before the end of every tax year on 5 April, you have the opportunity to save money on taxes and plan for the year ahead. As we approach the end of the tax year, now is the time to

How to ensure your money is protected from rising inflation. With current interest rates on cash savings very low, it is difficult to achieve growth above the rate of inflation. And if the cost of living is rising faster than your savings are growing, you’re effectively losing money. With cash savings, a penny saved is a penny earned. But thanks to inflation, over time, the value of the penny saved could be much less than when it was earned. When

Make the most of the tax breaks before it’s too late. If you hold a Cash Individual Savings Account (ISA) you may be dissatisfied with the low rates of interest you receive, which could make it difficult to grow your money even at a rate that keeps pace with inflation. Stocks & Shares ISAs offer the possibility of higher returns than Cash ISAs, but only if you’re prepared to take some risks with your savings. These investment accounts offer tax-efficient

Achieving your financial goals through investing, and one size does not fit all. Even as we hope to put the coronavirus (COVID-19) pandemic in the rearview mirror in 2021, uncertainty regarding both the virus and Brexit is likely to continue to weigh on the UK and global economies as well as on our personal finances during this year. While we hope volatility is less elevated this year, financial markets and the economy could still remain at the mercy of COVID-19

How to get your finances in order to make more of your money. Do you feel like your financial life has been turned upside down during the coronavirus (COVID-19) pandemic? Or, has the start of the new year focused you on getting your finances in order to make more of your money? Whatever the answer is, it’s important to adopt healthy financial habits. But just as bad habits can get you into financial trouble, good habits can help keep you

Are you protected against future Capital Gains Tax rises? It is almost inevitable that taxes will have to rise to help meet the potential £391 billion bill the Government has racked up in supporting the British economy through the coronavirus (COVID-19) pandemic. The Office of Tax Simplification (OTS) published a report[1] in November 2020 outlining the policy design and principles underpinning Capital Gains Tax (CGT). The OTS acknowledged the consultation has been produced in a shorter timeframe and this hints

Understanding the different ways you can use your pension money. The UK has seen a rise in the number of people accessing their pension pots or enquiring about doing so. People accessing their pension as a flexible income has increased by 56%[1] according to research since the first lockdown last year. The increase is due to people withdrawing after holding off when stock markets were volatile. An increasing number of pension savers have started to withdraw funds after many pressed

Saving and investing for a future that matters. Yours. Each tax year, we are given an annual Individual Savings Account (ISA) allowance. This can build up quickly, letting you accumulate a substantial tax-efficient gain in the long-term. The ISA limit for 2020/21 is £20,000. The proceeds are shielded from Income Tax, tax on dividends and Capital Gains Tax. To utilise your ISA allowance you should do so before the deadline at midnight on Monday 5 April 2021. We’ve answered some