Our educational hub explores topics across the landscape of wealth management and financial planning.
If you are planning your retirement, it is important to understand the amount you can put into your pension each year in order to gain valuable tax relief, known as the ‘annual allowance’.
With our families’ future financial wellbeing always in the back of our minds, we’d all welcome legitimate ways to manage inheritance tax (IHT) liability. One way to do this is by investing in the Alternative Investment Market (AIM).
Although we all know the cost of care in later life could be significant, few people realise the true extent of care home costs, nor do they adequately plan how to pay for them. Having a comprehensive wealth strategy in place can ensure you are financially prepared should you require long term care in the future.
For many people, a pension is their largest source of income in retirement. And traditionally, when you retire, your pension fund would immediately be used to provide a secured income for your lifetime. Although there has been some flexibility around this since the mid-1990s, the ‘Pension Freedoms’ announced in 2015 allowed even more choice but also more complexity.
There is a limit to how much you can save into your pension tax-free over your lifetime, known as the lifetime allowance (LTA). It’s been controversial because the government has steadily reduced the limit down from £1.8m in 2012. From this April 2019, the limit will be £1.055m.
Has COVID-19 affected your financial plans? Our Head of UK Financial Planning, David Goodfellow explains why you should review them now.
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IMPORTANT: Investment involves risk. The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. Past performance is not a reliable indicator of future performance.