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… 
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…
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…
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…
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…
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…
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…
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…
January is the month named for Janus, the Roman god who was depicted with two faces – one looking back and one looking to the future. And that is precisely what we should be doing now in respect of our financial planning. Successful financial planning is a cyclical activity. It is important to review your…
If you or a member of your family is saving for a home through a Help To Buy ISA or know someone who is, it’s worth being aware of a planning opportunity that could boost your savings by an additional £1,100. But anyone hoping to take advantage of this opportunity needs to be quick, as…