‘Can I gift to cut IHT and still live off my portfolio?’
Phil and Andrea, aged 59 and 57, have built up substantial portfolios through their Isas, pensions, property, a general investment account, and cash. Their main objectives are to generate a retirement income and reduce their inheritance tax (IHT) bill. With retirement on the horizon, they are now faced with the crucial task of ensuring that […]
Why it’s crucial to split business and personal finances – and how to do it
Starting your own business or transitioning from a traditional job to self-employment can be an exciting but overwhelming experience. With so much to consider, such as securing funding, attracting clients, and growing your business, it’s easy to overlook the importance of long-term financial planning for both your business and personal finances. Separating your personal and […]
The problem with being the family finance guru
Financial Literacy: How to Navigate Giving Financial Advice to Friends and Family When it comes to financial matters, it’s not uncommon to find yourself in a position where friends and family turn to you for advice. Whether it’s about pensions, taxes, or investing, being the go-to person for financial opinions can be both flattering and […]
Why moving abroad to pay less tax is harder than you think
Moving Abroad to Lower Your Tax Bill: What You Need to Know Dubai: a vibrant city with a huge international community, very little rain, and no personal taxes. When your UK income tax rate can be as high as 45 per cent, it is easy to feel tempted. But whether it’s to the United Arab […]
Everything you need to know about your self-assessment tax return
As the deadline approaches for filing your self-assessment tax return, it is essential to ensure that your form is completed accurately and on time. While filling out a tax return may not be the most enjoyable task, it is crucial to avoid penalties for late submission. To make the process easier, it is important to […]
‘Will I have to pay CGT on the flat I want to gift my daughter?’
When it comes to helping our loved ones, especially our children, we often want to provide them with the best opportunities and support possible. In the case of Walter, who bought a flat for his daughter 12 years ago, he is now considering gifting the property to her once he has repaid the mortgage. However, […]
‘My IHT plans are in tatters after Labour’s Budget – what do I do?’
Preserving your pension is no longer a viable IHT strategy Making a financial plan and sticking to it requires time, long-term thinking and discipline. So when the government comes in and subverts the rules of the game, people find it understandably frustrating. This is especially true when it comes to strategies for reducing inheritance tax […]
How to protect yourself before you can’t manage your finances
Managing personal finances and investments can be a complex and time-consuming task. In the event that you are unable to handle these responsibilities yourself, having a trusted person to act on your behalf is crucial. This is where a power of attorney comes into play. A power of attorney allows you to appoint a person, […]
Separation and your finances: a guide for cohabiting couples
Cohabiting couples have few legal and financial protections if they split Drafting a cohabitation agreement can help couples work out how to approach their finances Christmas can be a pressure cooker for couples. Every January, family lawyers receive an influx of divorce enquiries as enforced family time and high expectations over the holidays take their […]
The buy-to-let struggle is bigger than it seems
The latest government survey of private landlords has shed light on the challenges facing the buy-to-let sector. With data collected from over 9,000 landlords, this survey provides valuable insights into the changing landscape of the rental market. One of the most notable findings is the significant increase in the number of landlords looking to reduce […]