The gains you can make before potentially paying Capital Gains Tax (CGT) have halved for the 2024/25 tax year. If you plan to dispose of assets, the change could affect you. Read on to find out when you could be liable for CGT and some steps you might take to manage your tax bill. CGT is a tax on the…
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Effective retirement planning often involves weaving together lots of different threads. As you think about your retirement, you might be unsure how to bring everything together, but a bespoke financial plan could put your mind at ease. Over the last few months, you’ve read about the importance of deciding how you’ll retire, why you should set out your goals, and…
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Taking a tax-free lump sum from your pension could be a fantastic way to kickstart your retirement plans. If it’s something you’re thinking about, it’s important to consider the long-term implications and understand how much you could withdraw from your pension before facing a tax bill, as the rules have changed in 2024/25. Previously, you could take 25% of your…
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As a business owner, deciding how to extract profits from your firm could be a crucial decision. It may affect your tax liability and that of your company. Read on to understand three essential ways you could take money from your business and potential tax implications you might want to weigh up before deciding which is the right route for…
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Embarking on a holiday is about more than simply sightseeing – it’s also your chance to experience new and tantalising local dishes from around the world. An increasing number of people worldwide enjoy exploring exotic flavours during their time abroad. Acorn Tourism Consulting states that food tourism is one of the world’s largest and fastest-growing tourism markets…
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Every year the Herbert Scott team returns from our Christmas break knowing full well the next three months will be super busy. It can feel a little like a runner, preparing for a marathon. We need to start the New Year in peak condition, knowing that by the time we reach the last mile (for us the first week of…
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A recent survey reported by Professional Adviser revealed that 2 in 5 wealthy individuals have been the victim of financial crime. Of the 2,000 people with assets worth more than £250,000 who were surveyed, 41% of them reported they had been scammed, with more than a third saying they had fallen victim in the last six months.
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As Generation X, often described as those who were born between 1965 and 1981, starts to retire, research has found that many don’t feel confident about their financial future. If you’re worried about how secure your life will be once you stop working, there may be some practical steps you could take. According to a survey from…
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Interior design trends seem to swing from minimalist to maximalist every few years, but the “dopamine décor” style might be here to stay. This trend focuses on one thing: filling your home with colours and furniture that bring you joy. Whether that’s a specific pattern or a jumble of decorations pinched from other aesthetics, the goal is to reflect your…
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The Magnificent Seven might conjure up images of the 1960s Western film or its 2016 remake, but there’s a new group in town – seven technology companies that outgained the market in 2023. Read on to find out more about these companies and the effect they’re having. The S&P 500 is an index that tracks the stock performance of 500…
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