Welcome to our blogs which relate to the financial services you may be interested in from mortgages to pensions; protection to auto-enrolment and many more. So why not grab a drink and enjoy the read.
The pensions Lifetime Allowance and resulting tax charges was abolished under the UK’s 2023 Spring Budget. However, life is never simple with UK pensions and new tax-free limits are set to replace it. The March Budget only reduced the Lifetime Allowance charge to nil from April 6, 2023. HM Revenue and Customs (HMRC) has now published its draft legislation to
Both two and five-year fixed-rate deals have dropped according to data from the financial information company Moneyfacts.The average rate on a two-year fixed deal is now 6.49%, with a five-year rate at 5.99%. The majority of UK mortgage holders are on fixed-rate deals, and with more than 400,000 people expected to move off existing fixed deals in the coming months
A critical part of death benefits planning An Expression of Wish is a request from yourself to your pension provider as to how to deal with your pension when you pass away. Often pension providers will supply their own forms to complete, requesting specific instructions as to how the pension is to be distributed, and you have the opportunity to split by asset or percentage of
The government is giving people more time to pay National Insurance (NI) contributions towards their State Pension. Extending the deadline means that people have more time to properly consider whether paying voluntary contributions is right for them Taxpayers now have until 5 April 2025 to fill gaps in their National Insurance (NI) record from April 2006 that may increase their
With the coming years set to see record flows of assets pass down the generations, the thorny issue of wealth transfer has inevitably become an increasingly important financial topic. Seeking professional advice is a crucial step that can ease any inheritance planning anxieties and facilitate the transfer of assets in the way that you want. ‘Great wealth transfer’ The next
Despite volatility in the mortgage market caused by last year’s mini Budget, interest in mortgages has remained stable. While high inflation and the Bank of England’s decision to continue to increase the base rate could serve to dampen this level of activity this year, there are still a high number of products expected to mature. As such, thousands of mortgage
Something to consider? As we ease into summer, it can highlight how important it is to protect your household income. No matter your occupation, employed or self- employed – there is a solution for you and your circumstances as you can protect your ability to earn an income. Especially while the cost of living continues to rise, how would you
Savers will be able to invest up to £60,000 of their income into their pension each year, thanks to recent pension reforms announced in the March Budget, as part of a wider package of reforms designed to tempt early retirees back into the workforce. What type of income can I invest into my pension? Pensions are a desirable means of
With the coming years set to see record flows of assets pass down the generations, the thorny issue of wealth transfer has inevitably become an increasingly important financial topic. Seeking professional advice is a crucial step that can ease any inheritance planning anxieties and facilitate the transfer of assets in the way that you want. ‘Great wealth transfer’ The next
An increasing number of older homeowners are choosing to release equity with cost-of-living pressures still the main reason for tapping into the value of their home. Equity release allows over-55s to access some of the value of their home as tax-free cash. In total, homeowners used equity release to borrow £6.2bn in 2022, a 29% yearly rise. Since 2017, the