When it comes to retiring abroad, prior preparation is key for a smooth transition into your new life. It’s a dream for many that after years of hard work, it’s finally time to travel to far-off lands and enjoy your retirement without worrying about finances. With some planning beforehand, the dream of retiring abroad can…
Read more
The pension freedoms, introduced on 6 April 2015, have given retirees a whole host of options. There is no longer a compulsory requirement to purchase an annuity (a guaranteed income for life) when you retire. The introduction of pension freedoms brought about fundamental changes to the way we can access our pension savings. There is…
Read more
Estate protection is an important part of wealth management, no matter how much wealth you have built up. It’s the process of making a plan for how your assets will be distributed upon your death or incapacitation. As a nation, we are reluctant to talk about inheritance. Through estate planning, however, you can ensure your…
Read more
In this article we look at tax-efficient investing and some of the legitimate ways for higher earners to reduce a tax bill. Without a carefully developed tax planning strategy, higher-rate taxpayers run the risk of missing out on key tax benefits and paying more in taxes than necessary. A higher tax liability can diminish the…
Read more
Life is full of uncertainties and if the worst were to happen, would your bills still get paid? Everyone should consider protection, even those who don’t have a family or a mortgage! Unless they have substantial savings or inherited wealth, most people rely on their salary to pay for everything. Over the years, you may…
Read more
We take a look at the ISA returns of the year and ask if it’s time for you to explore your ISA options? An Individual Savings Account (ISA) enables you to save in a simple tax-efficient way, while generally giving you instant access to your money. This gives you short, medium and long term saving…
Read more
A personal pension is a type of defined contribution pension. You choose the provider and make arrangements for your contributions to be paid. If you haven’t got a workplace pension, getting personal pension could be a good way of saving for retirement. Your pension provider will claim tax relief at the basic rate and add…
Read more
The pension lifetime allowance is a limit on the value of payouts from your pension schemes – whether lump sums or retirement income – that can be made without triggering an extra tax charge. The lifetime allowance for most people is £1,055,000 in the tax year 2019/20. It applies to the total of all the…
Read more
You can normally withdraw up to a quarter (25%) of your pot as a one-off tax-free lump sum, then convert the rest into a taxable income for life called an ‘annuity’. There are different lifetime annuity options and features to choose from that affect how much income you would get. You can also choose to…
Read more
Under the pension freedoms rules introduced in April 2015, once you reach the age of 55, you can turn pensions into money you can use; you can take your entire pension pot as cash in one go if you wish. However, if you do this, you could end up with a large Income Tax bill…
Read more
What are your 2020 financial resolutions? Whether it’s stopping smoking, losing weight, eating more healthy or getting fitter, most of us have probably made at least one New Year’s resolution, but how many of us will actually go on to achieve it? We all have different financial goals and aspirations in life, yet these goals…
Read more
Welcome to the first edition of our TIPS financial magazine of 2020. Inside this issue, we feature articles covering a number of different topics to help you successfully grow and protect your wealth. Whether it’s stopping smoking, losing weight, eating more healthy or getting fitter, most of us have probably made at least one New…
Read more
Follow us