High inflation has dominated headlines over the last two years. With the rate now slowly nearing the Bank of England’s (BoE) target, taking stock of what it means for your finances could be useful. The BoE is responsible for managing inflation and aims to keep it at 2%. The central bank…
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It’s the season for giving. This Christmas, you might be thinking about how you could improve the security of your loved ones by gifting them money or assets. Read on to discover five potentially useful allowances that you might want to consider if your estate could be liable for Inheritance Tax (IHT). Some gifts are considered immediately outside of your…
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People often think of their financial plan as a way to grow their wealth and provide financial security. You might consider areas like your pension or financial protection to be core parts of your financial plan. Yet, while they’re important, your happiness is essential too. Financial planning is about helping you reach your financial goals, but it goes further than…
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A Lasting Power of Attorney (LPA) could provide you with protection when you’re most vulnerable by giving someone you trust the ability to make decisions on your behalf. Yet, a survey in the Independent, found that less than half of married couples have an LPA. We will…
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Visiting the supermarket to pick up a few items or do your weekly shopping is so common it can be difficult to imagine life without this convenience. Yet, it wasn’t too long ago that the first supermarket was opening its doors in the UK. And looking back offers an interesting insight into how money and shopping habits have…
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Inheritance Tax (IHT) is often controversial – you may have heard of it referred to as “the most hated tax in Britain”. Yet, despite the coverage it receives, it’s often misunderstood. Common myths about IHT could mean you’re needlessly worrying about a potential bill or failing to take steps that could allow you to pass on more wealth…
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When you’re saving for long-term goals, choosing the right place to put your money is crucial. It could mean you have far more financial freedom later in life. If you’re thinking about retirement or your later years, you have multiple options, including pensions and ISAs. While ISAs are more accessible, read on to find out why…
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In a bid to encourage early retirees back to work, chancellor Jeremy Hunt unveiled several changes to pension allowances during the Budget. The announcements could mean you’re able to save more in your pension and boost your retirement income. Here are the four key pension changes Hunt announced. 1. The Lifetime Allowance will be…
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The new tax year has only just started. Yet, making the most of your allowances now, rather than waiting until March 2024, could make sense. Read on to find out why. When a new tax year starts on 6 April, many allowances reset, such as the: ISA allowance Pension Annual Allowance…
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A key part of your estate plan is setting out how you’d like to pass on assets to loved ones. There’s more than one option to consider, so read on to find out more. Your estate plan should consider how you’ll use your assets during your life and what you’d like to happen to them when…
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