At this time of the year HMRC will begin sending out P800 tax calculations. These calculations are provided to individuals who pay tax through PAYE and show if you have either underpaid, or overpaid, tax. Any calculations should be treated with caution – it is by no means certain that they will be correct and …

There are many different approaches that can be taken to IHT planning, each having their own merits and being appropriate to different individuals in different circumstances. Making gifts is one of the most common approaches, whether it is a gift to an individual or into trust, or even to charity. As a starting point, every …

You would have been hard pressed to miss the news that the Woodford Equity Income Fund is now suspended for dealing. It has been covered extensively in the media, with a sideshow focusing on the spectacular fall from grace of former ‘star’ fund manager Neil Woodford. Mr Woodford has been a successful “active” fund manager …

Inheritance Tax (IHT) can often be a major worry for people when it comes to their financial planning, with people often not wanting to pass further wealth on to HMRC, having worked hard to accumulate it, but there are often many misconceptions when it comes to IHT. As of 2019/20, individuals have a standard nil …

We are truly delighted to have been awarded the ‘Gold Standard’ for good practice when giving pension transfer advice on safeguarded benefits (such as defined benefits pension transfers). The title has been introduced across the UK to help the public better understand what to expect from regulated advice, and to identify advice firms that have …

Starting a new role is quite similar to starting a new school; jitters, nerves, anticipation, excitement and the biggest questions of all; “what will my colleagues be like?”, “will I fit in?” and “will I make a difference?”. As first days go, it was a huge success; what better way to be welcomed than by …

The State Pension can form a large part of an individual’s retirement income. For 2019/20, a full new State Pension will pay £168.60 per week (£8,767 pa) and under current rules, this will increase each April by the higher of average earnings growth, the rate of inflation (measured by CPI) or 2.5%. Many individuals approaching …

Passing wealth down the generations, for most, is an important part of their inheritance planning process. Until pension freedoms came into force on 6th April 2015, it was difficult to include personal pension funds in this planning. The introduction of ‘Flexible Pension Drawdown’, not only changed the accessibility of pension funds, but also allowed any …

An “expression of wish” form is a vital piece of the pension jigsaw. This enables you to nominate one or more people to benefit from your private and/or occupational pension schemes, should you die before retirement. It’s like having a Will for your pensions, and with legislation being complex, it can be a simple way …

Last year, the focus of Financial Capability Week was on talking about money. It isn’t hard to see why; talking about money and finances in general is perhaps one of the last classic British taboos. Yet money is such a big part of all our lives, so it’s odd that we feel so uncomfortable being …