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November Focus – Planning for retirement income

In the UK, we are faced with the challenge of an ageing population. Many of us will live longer than we might have expected. Already, 2.4% of the population is aged over 85. Because of improvements in healthcare and nutrition, this figure only looks set to rise. The Office of National Statistics currently estimates that…
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October Focus – The meaning of ‘Wealth’?

…it’s not all to do with money! One of the increasing challenges facing parents and other family members today is achieving success in their estate planning – passing on their wealth well. But how should we define ‘success’? Much of estate planning focuses on the financial aspects: ensuring a tax-efficient and cost-efficient transition of wealth…
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September Focus – Retirement Savings

The Bank of Mum and Dad is a well-known concept and we all hate to see our children struggle financially, which is why many parents continue to support their children well into adulthood. The type of financial assistance given can take various forms, such as money towards a house deposit or a loan for a…
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August Focus – Undeclared Offshore Tax Liabilities?

HMRC have issued updated guidance on the Requirement to Correct (RTC) legislation. The purpose of the RTC legislation is to require those with undeclared offshore tax liabilities (Income Tax, Capital Gains Tax or Inheritance Tax for the relevant periods) to disclose those liabilities to HMRC on or before the 30th September 2018. The legislation sets…
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July Focus – On track for maximum state pension?

As part of your overall financial planning, one item that is worth considering is your state pension and whether you are on track to get the full amount. If not, it is possible to buy top-ups, which could boost your payout by £244 a year for life. The top-up scheme can be particularly relevant for…
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June Focus – Plan ahead ! … Noah did !

One definition of Planning is ‘The process of deciding in detail how to do something before you actually start doing it!’ Not just a very sensible idea, but also an essential element within all Financial Planning. Successful planning should be structured and must incorporate periodic reviews of your plans – it is essentially a cyclical…
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May Focus – Financial Advantages of Marriages and Civil Partnerships

With the Royal Wedding only a few days away, we want to enter into the spirit of this wonderful event and, in doing so, are prompted to reflect on the financial advantages (well, we would wouldn’t we!) of saying ‘I do’ … A marriage or civil partnership can be a beautiful union of minds and…
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April Focus – Taxation Rules on Pension Schemes

This Focus is necessarily somewhat longer than usual. It holds a very important message for anyone who is a member of a pension scheme. It is based on our understanding of taxation matters that involve quite complex rules. Money Purchase Pension Schemes – Death Benefits As discussed in our October 2017 Focus (recent Focuses can…
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March Focus – Your cash reserves

Following the financial crisis of 2008 when a number of big British banks came close to collapsing, the Financial Services Compensation Scheme (FSCS) was strengthened by the government to the extent that the FSCS currently guarantees the first £85,000 of a person’s cash savings per banking licence in total, and including interest. But what does…
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February Focus – Lifetime Financial Planning

You and I know that life is not all plain sailing. But, as far as our financial planning is concerned, if you plan ahead you can maximise your resources for your families and yourselves. We call it Lifetime Financial Planning – and we make the provision of that service available to all our clients. For…
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