Changes to Individual Savings Accounts in 2024

Why savers and investors now have a more flexible approach

Individual Savings Accounts (ISAs) offer a versatile and tax-efficient way to save for the future, whether for yourself, your children or grandchildren. Now that we have entered the new financial year, on 6 April 2024, significant changes to ISAs have been introduced.

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Prudence of perseverance in investing

Maintaining an investment stance centred on the potential for long-term growth.

For investors, the perennial question of whether to ‘stick or twist’ with their current investments or pivot towards the perceived safety of cash is fundamental. Numerous factors influence this decision, which plays a pivotal role in the journey towards financial prosperity.

The appeal of cash, particularly in uncertain times, is clear; however, a judicious choice to remain invested frequently emerges as the more astute strategy.

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Enhancing retirement through lump sum contributions

Contributing additional amounts to your pension stands to benefit you significantly in the long term.

Recent research findings have brought to light a striking observation: fewer than 10% of adults in the UK contribute occasional lump sums to their pensions[1]. This statistic is particularly surprising given that such contributions could significantly amplify one’s retirement savings.

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What will your legacy look like?

Effective Inheritance Tax planning is a careful balancing act.

Once a concern only for the very affluent, Inheritance Tax (IHT) is now an issue for many ordinary families, who may find themselves handing over an unprecedented portion of their estates to the taxman. This shift results from years of house price growth, inflation and stagnant tax thresholds. The Office for Budget Responsibility anticipates that IHT will bring in £7.2 billion in the fiscal year 2023/24[1].

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Wealth accumulation

Valuable insights that can impact an investment strategy.

With the ever-evolving landscape of investment, it’s not hard to see why it might appear daunting. The investment world is equivalent to a living, breathing entity constantly evolving and changing. It’s a landscape that never remains static, mirroring the dynamic nature of global economies and financial markets.

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Planning for an early retirement

Living life to the fullest and accomplishing long-held dreams.

Early retirement typically signifies reaching financial autonomy before the statutory pension age, usually in the mid-60s. In the United Kingdom, retirees can begin drawing their State Pension at age 66. However, this retirement benchmark is set to increase to age 67 by 6 April 2028.

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Managing your finances as a couple

Discussing finances may feel uncomfortable, but it is crucial to maintain a healthy relationship.

Transparency is the foundation of any strong relationship, which holds true regarding financial matters. It is easy to fall into the trap of assuming that you and your partner have similar financial habits and attitudes.

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Age is not just a number

The impact of an increased lifespan on your retirement finances.
Living to the ripe old age of 100 could require an additional £260,000 in pension wealth to ensure a comfortable retirement, compared to someone living until the current average life expectancy, according to the Office for National Statistics (ONS)[1].

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Balancing profit and planet

Striving to use impact to boost investment returns. ESG (Environmental, Social, and Governance) investing, a socially responsible investing approach, seeks to harmonise financial returns with

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Tax-saving measures

What actions to review before the 2023/24 year-end? Have you recently evaluated your personal tax situation? Is your tax structure optimised for efficiency? As we

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