Whatever you’re putting money aside for, there’s likely to be a role for Individual Saving Accounts, or ‘ISAs’. An ISA is a way of holding savings or investments without paying personal tax on interest received or on the growth of your investment.
Building wealth for the future is important, but increasingly people want their investments to do more than make money. Investing ethically means different things to different people.
A new UK-wide strategy to transform the country’s financial well-being in a decade has been launched by the Money and Pensions Service (MaPS) under its government mandate.
Divorce is an emotional and stressful period for those who have to go through it. However, it’s important that people realise that a pension is a valuable asset when considering how they split their money.
In his 2015 Spring Budget, then-chancellor George Osborne introduced sweeping changes to the way that pensions are taxed. The new pension freedom rules have led to the over-55s being faced with a variety of different choices when taking and investing their nest eggs.
Are you worried about leaving an inheritance to your loved ones and then having them pay tax on your legacy? No one likes to think about a time when they won’t be here, but unfortunately the reality is that some people aren’t prepared financially.
Portfolio diversification is the foundational concept of investing. It’s a risk management strategy of combining a variety of assets to reduce the overall risk of an investment portfolio.
Planning for retirement can be both exciting and daunting. It’s essential to structure your affairs to make sure you have enough money when you eventually retire. To give your pension pot a boost, one option to consider if your pension savings are more than your annual allowance is to take advantage of the ‘carry forward’ rules for unused annual allowances from previous years and still receive tax relief.
The end of the 2019/20 tax year is fast approaching, and there are a number of valuable allowances and reliefs that will be lost if they are not used before the deadline.
If appropriate, you can transfer some of your assets while you’re alive – these are known as ‘lifetime transfers’. While we are all free to do this whenever we want, it is important to be aware of the potential implications of such gifts with regard to Inheritance Tax.
