HM Revenue & Customs (HMRC) has begun contacting around one million people who may have missed out on pension tax relief because their workplace pension scheme operates under a Net Pay Arrangement. Under Net Pay, pension contributions are deducted from earnings before income tax is calculated. This normally provides automatic tax relief at the individual’s …

A forgotten pension may be worth more than you think. Research from the Pensions Policy Institute found that, in 2024, there were 3.3 million lost pension pots across the UK, holding a combined £31.1 billion. The average lost pot amongst people aged 55 to 75 was valued at £13,620, so finding a forgotten pension could …

The timetable for the State Pension Age is back in the spotlight, with the government reviewing whether the planned rise to 68 should happen sooner than the current legislated schedule of April 2044 to April 2046. According to a report by The Times, Treasury officials have told the Office for Budget Responsibility that the current …

The government has published further guidance on the ISA changes due to take effect from 6 April 2027.  The key points are summarised below, with additional detail expected to be provided by the government in the next Tax-Free Savings Newsletter.  Cash ISA subscription limit  A new £12,000 annual subscription limit will apply to Cash ISAs for individuals under the age of …

Cash management is a key component of any financial planning strategy. Maintaining a healthy cash reserve helps you cover emergency expenses and short-term spending needs without having to access your longer-term investments at an inconvenient time. However, holding too much cash over the long term has its drawbacks. The primary risk is inflation, which gradually …

Proposed Government changes to pension death benefits from 6th April 2027 are set to have significant implications for estate planning. At present, unused pension funds can typically be passed to beneficiaries outside of the estate for inheritance tax purposes. Under the proposed rules, however, unused pension funds are expected to be included in the value …

You may have heard of the gender pay gap, but have you heard of the gender pension gap? The gender pension gap refers to the difference in pension income and overall retirement wealth between men and women. The latest data used by the government to measure the gap shows that in the UK: By the …

The National Insurance replacement credits service is designed to help certain parents and carers cover gaps in their National Insurance record. Although it was originally planned to launch in April 2026, it is now expected to be delayed until April 2027. HMRC has issued an update for those impacted by this change. According to HMRC, …

The new tax year brings a number of important changes that may affect your income, investments, and longer‑term planning. While many tax rates have not increased, the overall tax burden is rising for many people due to frozen allowances and higher taxes on investments. Below is a summary of the key points and what they …

Global markets experienced some fluctuations the past few weeks following the US attacks on Iran, with oil prices seeing the most noticeable increase, and it is likely that markets will remain volatile as the situation evolves. Rising geopolitical tensions often lead to short-term movements in global financial markets, as investors weigh the potential implications for …