Your Money - Your Future
News & Views
Investment bonds
How bonds' structure and tax advantages can help you pass on wealth Investment bonds offer several benefits that some investors may be missing out on, and have become even more beneficial due to recent changes in tax regulations following the Chancellor’s decision to reduce the Capital Gains Tax (CGT) Allowance from £12,000 to £6,000 this year and to £3,000 in April 2024. [...]
Missing out on unclaimed money that could be in your pocket?
£1.3 billion pension tax relief unclaimed by pension savers over a five-year period According to recent research, higher rate and additional rate taxpayers in the UK leave millions of pounds of pension tax relief unclaimed yearly[1]. This amounts to a staggering total of £1.3 billion over a five-year period. This unclaimed money could be in your pocket instead. [...]
Saving for the next generation
Taking proactive steps in securing your child’s or grandchild’s financial future Many parents and grandparents set aside money for the next generation to help with their financial needs. The rising cost of education, housing, and life in general, has created concerns about financial stability for future generations. [...]
The importance of understanding tax-free pension withdrawals
Many over-55s are unaware that they can access 25% of their pension pot tax-free A surprising 43% of individuals over 55 need to be made aware that they can withdraw 25% of their pension pot tax-free, according to recent research[1]. Knowledge could lead to better decision-making when it comes to accessing pension savings. [...]
The Gender Pension Gap issue
73% of women make only minimum pension contributions, compared to 58% of men A significant difference in pension contributions between men and women has been revealed from a recent study[1], highlighting that women are more likely to pay the minimum required amount into their pensions under auto-enrolment. [...]
Price of adulthood
Financial responsibilities increase significantly after 25 Paying essentials such as utilities and council tax becomes a reality as young adults transition from student life to the workforce. The reality of financial responsibilities often accompanies the excitement of newfound independence during one's mid-twenties. [...]