Tag Archives: Tax

Article Archive

August Focus – Reducing risks of wills being contested

Research by Direct Line(see 1) suggests that over 12.6 million people (about 24%) would contest a will if they were unhappy with it – and incidences of wills being contested are growing in number. But we can take steps to reduce the risk of that happening to our own will. A first step that may…
read more

Article Archive

July Focus – Pension schemes key areas

Our Focus this month is an important reminder for all those who are members of a pension scheme – whether a personal pension plan or a company defined benefit scheme. Below, we focus on several key areas. Annual Allowance Your Annual Allowance is based on your earnings and other income and is currently capped at…
read more

Article Archive

June Focus – Tax Rules and Financial Gifts

You will have read in the first item in our Techie Stuff section (oh yes you have … you know you have!) about HMRC’s concerns about taxpayers making gifts without appreciating that rules exist about how, when gifts are made, there may be Inheritance Tax consequences. But HMRC are not the only ones to have…
read more

Article Archive

May Focus – Personal Financial Planning

We all remember the refrain from our childhood about gathering nuts in May. But aren’t nuts gathered in the autumn? You will know that that phrase about nuts is actually a corruption of ‘gathering knots of may’. The ‘knots of may’ being the hawthorn blossom we see at this time of year. I am being…
read more

Article Archive

April Focus – A Tax Special

Income Tax – The personal allowance is reduced by £1 for every £2 of income above £100,000 * Consider transferring income yielding assets to a spouse or civil partner to maximise your allowances. Capital Gains Tax – The annual exemption for 2019/20 is £12,000 * Married couples and civil partners can consider transferring assets to…
read more

Article Archive

March Focus – Tax Year End Planning

In early Roman times, March was the first month in their calendar. Martius, as they called it, was named after Mars the Roman god of war because this month signalled that winter was coming to an end and, with the warmer weather on its way, it was time to prepare for the season of warfare…
read more

Article Archive

February Focus – Income and Capital needs

Whenever we are in market conditions such as those affected by Brexit, it is sensible to review the balance of our investment portfolios – and to assess our income and capital needs over the next few years. For example, looking at asset allocations, many balanced portfolios contain holdings in property funds when appropriate. While such…
read more

Article Archive

January Focus – New Year Financial Planning

The Romans dedicated January to their god Janus – god of Endings, Transitions, and new Beginnings. He is depicted with two faces since he looks back to learn from the past and the year that has just ended (Endings) and, having taken stock (Transitions), he looks forward to the next year (new Beginnings). We would…
read more

Article Archive

December Focus – Pensions Update

There was scarcely a mention of the ‘P’ word in October’s Budget speech (believe us, we were listening closely for it!). However, we had a good read of the accompanying ‘Red Book’ looking for any mention of pensions. At 106 pages, this was no mean feat. Fortunately, though, it was time well spent as some…
read more

Article Archive

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…
read more