Monthly Archives: July 2021

Money’s too tight to mention

Looking to retire from work, not a paycheck?

When it comes to retirement insecurity, one concern dominates all others, the fear of running out of money during retirement and with people living longer than ever before, it’s a very valid concern.

Pension freedoms

Looking for a wider choice of investment options?

Saving for your retirement is one of the longest and biggest financial commitments you will ever make. Imagine you’re retiring today. Have you thought about how you’re going to financially support yourself (and potentially your family too) with your current pension savings? The pension freedoms introduced in 2015 provide even more of an incentive to look again at your retirement savings.

Keeping wealth in the family

Inheritance Tax receipts reach £5.32 billion in 2020/21

Inheritance Tax is a tax on an estate (the property, money and possessions) of someone who’s died. Inheritance Tax receipts in the United Kingdom amounted to approximately £5.32 billion in 2020/21, compared with £5.36 billion pounds in the previous financial year, which was a peak for this provided time period[1].

Making suitable plans

Organise how much you could leave for the people you care about

Inheritance Tax can cost families thousands of pounds but there are various ways to legally avoid paying this tax. Without making suitable plans, your loved ones could face a tax bill of 40% on the value of everything you own above a certain threshold.

Increased net worth and rising mortality rates

The earlier you put plans in place the more options you may have

With careful planning it may be possible to reduce significantly the need for your estate to pay Inheritance Tax. We spend a lifetime generating wealth and assets but not many of us ensure that it will be passed to the next generation – our children, grandchildren, nieces, nephews, and so on. Intergenerational wealth transfer is the passage of wealth from one family generation to the next.