Capital gains tax needs to increase, think tank warns
In a recent report, the Institute for Fiscal Studies (IFS) has highlighted the flaws in the current Capital Gains Tax (CGT) system and called for significant reforms. The IFS argues that CGT distorts the system by incentivizing individuals to hold onto assets longer than they may want to, ultimately discouraging savings and investment. One of […]
‘My wife’s care costs will increase by £40,000 – what do I do?’
Addressing the Rising Care Costs for George and Linda Our reader’s care costs are about to increase significantly He doesn’t know how much he should give away to cut IHT Should he reduce his property exposure? Reader Portfolio George and Linda 77 and 75 Description Isas and general investment accounts Objectives Fund care costs, reduce […]
How to reorganise your finances after a second marriage
“It’s important to have these conversations early on and be open and honest about your financial situation and your expectations for the future.” Discussing your financial plans with both your new partner and adult children is crucial to ensure that everyone is on the same page. This can help prevent misunderstandings and conflicts down the […]
The best ways to invest for your children
How to Give Children a Great Start in Life with Smart Investments You can give children a great start in life with relatively little money Our tips for choosing the right account and investment strategy How to discuss investing to pique their interest As parents, one of our greatest responsibilities is to ensure that our […]
‘I’ve filled up my Isa and pension – where else can I save?’
After successfully maximizing your pension and Isa allowances, you are now in a position to explore further investment options to make the most tax-efficient decisions. Let’s delve into the various strategies available to you and compare their tax implications to determine the best course of action. One option to consider is contributing additional funds to […]
Why it might be time to sell your holiday let
The Autumn Budget on 30 October is approaching, and while the exact tax changes it will bring remain uncertain, one change set to take effect next year is already causing concern for owners of holiday properties. Currently, holiday homes that are rented out for at least 210 days a year, with at least half of […]
‘Should we focus on investing our £135,000 portfolio or prioritise paying down debt?’
Reader Portfolio Charlie and Lorna 35 and 28 Description Isas, pensions, cash, premium bonds, and property Objectives Funding their retirement, providing financial freedom Portfolio type Investing for growth Investing at a young age can be a proactive approach to securing your financial future. It allows you to capitalize on the power of compounding over time […]
How to prepare your finances for the 2024 Autumn Budget
As the upcoming Budget approaches, Chancellor Rachel Reeves has hinted at potential tax hikes, with changes to capital gains tax, inheritance tax, and pensions all being considered. While no concrete policies have been announced yet, it’s important not to make impulsive financial decisions in response to speculation. Capital gains tax (CGT) is a key area […]
How to protect your finances when getting divorced
Splitting assets during a divorce is a complex process that requires careful consideration of both parties’ needs. It can be emotionally charged, but making informed decisions is crucial to avoid costly mistakes. Historically, women have often been at a disadvantage in asset division, particularly when it comes to pensions. Research shows that in many couples, […]
How to retire early
Creating a high-growth investment strategy is a goal that many savers aspire to achieve. The idea of achieving financial independence and retiring early is appealing to many, especially considering the increasing retirement age. While retiring in your 40s may seem like a lofty goal, with thorough financial planning, a solid investment strategy, and tax efficiency, […]