It’s time to identify, plan for and potentially mitigate your tax burdens. While the Chancellor of the Exchequer, Rishi Sunak, is looking to reduce the tax gap, there are nonetheless still opportunities to review your financial arrangements for saving tax throughout the tax year. Taking action now will give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions before the end of the 2020/21 tax year on 5 April. At the same time, you should be

Taking time to understand your financial plans will really pay off. At the start of every year we have great intentions, as financial promises are renewed. Getting our financial life in order will be a top priority for many as we enter 2021. Consider focusing on two key areas: goals related to being prepared for the unexpected this year, and those related to what you want to be different at the end of the year. 10 areas to consider when

Chartered Financial Planner and Advising Partner Laurence Turner of IFT Wealth Management in Halifax is kick-starting the New Year for Overgate Hospice with a donation of £7,000 to keep their doors open on the first day of 2021.

Giving grandchildren financial security is an important goal for many. If you are a grandparent, it’s natural to want to help out the family. And if you’re able to give a financial boost – whether it’s a loan or a gift – to the younger generation, it can be enormously rewarding for you too. Even during the current coronavirus (COVID-19) crisis, some grandparents may be enjoying generous final-salary pensions and are also benefiting from the property boom of recent decades,

Giving up on cash altogether, disillusioned by today’s dismal savings rates. The number of people in their 20s and early 30s choosing to invest in a Stocks & Shares Individual Savings Account (ISA) prior to the coronavirus pandemic outbreak increased according to the latest HM Revenue & Customs annual ISA data[1]. Research shows that Generation Z and Millennials are now more likely to invest than Baby Boomers. Many have given up on cash altogether, disillusioned by today’s dismal savings rates.

Navigating complex decisions to shape your retirement finances. Pension freedoms have put a greater onus on people to keep themselves informed of their options when it comes to accessing their pension money. However, little knowledge and understanding of the rules could mean some people risk making decisions that are not best for them. For people in their 40s and 50s, understanding retirement savings is especially critical. Pension freedoms now give savers full access to their retirement savings from the age

Time to diagnose your money situation with a financial health check? Even if you have a solid financial plan in place, it still needs to be updated regularly to ensure it reflects any life changes. But what should your priorities focus on now? Is it time to turn your attention to your pension, your ISA, your mortgage, or something else? Should you be thinking about investing more for your children’s education or putting an estate plan in place? And then

Why working and retirement are no longer binary terms. Giving up the 9-to-5 doesn’t necessarily mean stopping work. Many people are now considering staggered or flexible working. It can suit some individuals who have caring responsibilities or health issues, or those thinking about retiring in the next few years. When you picture yourself in your golden years, are you sitting on a beach, hitting the golf course or working behind a desk? For many people of retirement age, continuing to

How to make the most of the various pension allowances. Saving into a pension is one of the most tax-efficient ways to save for your retirement. Not only do pensions enable you to grow your retirement savings largely free of tax, but they also provide tax relief on the contributions you make. There are various pension allowances that you need to be aware of and understand how to make the most of. These limit the amount of money you can

Pandemic forcing a widespread rethink of retirement plans. The coronavirus (COVID-19) pandemic crisis has thrown some of the nation’s retirement plans up in the air. As a result, a number of people over 50 and in work are set to delay their retirement (15%) by an average of three years, or keep working indefinitely (26%) as a direct result of COVID-19, according to new research[1]. The pandemic is forcing a widespread rethink of retirement plans. Currently 1.5 million workers aged

Impact of coronavirus (COVID-19) on Will making. We are living in extraordinary times right now, in the grip of a global coronavirus (COVID-19) pandemic. Many people are concerned to ensure that their affairs are in order and that they have made a Will, which is one of the most important legal documents you can create in life. It is always sensible to have a valid Will in place to ensure that your estate is divided among the people (or charities)

Why it’s important not to view your portfolio with an element of finality. Retirement is a major accomplishment for most people. You’ve worked hard all of your working life to save and prepare for your retirement, and now you’ve finally retired. So how should you approach investing now that you’re no longer earning a salary? When it comes to investing during retirement, with the right strategy, you can help make sure your retirement savings last. It is not unusual for