How to plan for the unexpected
Financial planning is a crucial aspect of managing your money and securing your future. While it can be overwhelming to anticipate all the unexpected events that may occur in your life, having a solid financial plan in place can help you navigate through any challenges that may arise. One of the fundamental aspects of good […]
‘Will I have to pay inheritance tax on my grandchild’s university fees?’
In a recent query to a financial planning consultant, JB sought clarification on whether paying his grandchildren’s university tuition fees would qualify as regular payments out of income or as contributions to charitable institutions. The goal was to potentially avoid inheritance tax (IHT) on these payments without having to wait seven years. Ian Futcher, a […]
How to plan your estate if you don’t have children
Estate planning is often discussed in the context of those with children, as the natural instinct is to provide for your offspring even after you are gone. However, for a growing number of individuals who are child-free, either by choice or circumstance, estate planning advice may need to be tailored to different priorities and necessities. […]
‘Can our £2.5mn portfolio provide £60,000 a year?’
Many individuals dream of early retirement, wanting to escape the daily grind and have more time to enjoy life. However, achieving this goal requires careful financial planning to ensure that one does not run out of money in retirement. To ease these fears, it is essential to have a solid cash flow model and an […]
‘How will my sports memorabilia profits be taxed?’
Sporting memorabilia has always been a passion of mine since a young age. I started collecting items at cricket matches, getting players’ autographs after the games. Over the years, my collection has grown significantly, with items acquired through various means such as personal collection, online auctions, and specialized sporting auctions. As I plan to transition […]
‘Will Trump’s tariffs stop me from retiring early?’
For soon-to-be retirees, US President Donald Trump’s tariffs could not have come at a worse time. Watching your pension fund drop in value as markets crash is unnerving to say the least. However, it is important not to let panic get the better of you. If you have a sensible investment strategy, tweaking your approach, […]
NS&I announces savings rate hikes
National Savings & Investments (NS&I) has recently made some significant changes to its fixed-term savings accounts, including increasing interest rates and relaunching popular options for savers. The organization has reintroduced its one-year and five-year British Saving Bonds, with the one-year option now offering a competitive rate of 4.05 per cent, and the five-year bonds paying […]
How to pass on your digital assets
In today’s digital age, our financial information is no longer stored in physical filing cabinets but rather in the digital realm. Digital assets have become a crucial part of our estate planning, yet many people overlook them when preparing for the future. What exactly constitutes a digital asset? According to Natalie Butler, a private client […]
Know and avoid these tax traps
Tax planning is a crucial aspect of managing your finances, but navigating the complex tax system can be challenging. HMRC has certain thresholds and rules in place that can catch you off guard if you’re not careful. Avoiding these ‘tax traps’ requires strategic planning and understanding of the rules to ensure you don’t end up […]
How to make the most of Isas and pensions
Tax efficiency is a key component of successful financial management. It is important to ensure that your investments are structured in a way that minimizes tax liabilities and maximizes returns. Reviewing your portfolio and financial plans annually is a good practice to ensure that you are on track to meet your financial goals. As the […]