Creating a financial plan is just the first step to reaching your goals. While you may have carefully set out what you need to do, regular financial reviews are essential. It’s often advised that you review your financial plan once a year or following major life events. Over the next few months, you can read about why reviews are a…
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Government changes to the taxation of pensions may mean you could save far more tax-efficiently for retirement. If a potential tax bill influenced your current retirement date, it might be worth reviewing your plan. Previously, the Lifetime Allowance (LTA) affected the total pension benefits you could build up before facing a possible tax charge. In 2022/23, the LTA was £1,073,100.
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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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The latest release from HMRC shows it collected a record £16.7 billion in 2021/22 through Capital Gains Tax (CGT) – a 15% increase on the previous tax year. Cuts to a tax exemption could mean CGT receipts might climb even further. CGT is a type of tax you pay when you sell or dispose of certain assets.
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Here at Herbert Scott, we are committed to hiring young talent into the profession and supporting them through their development. With this in mind, we are proud to announce a promotion for our apprentice Danny Rudden who has joined our team of technical wizards, or as we like to call them Financial Planning Assistants. Danny joined Herbert Scott in September…
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Everyone has been touched by the horrific events and unfolding human tragedy in Israel and the Gaza Strip, and many are concerned about how this might escalate into a wider conflict at a time of great uncertainty in the world. People’s immediate focus is, rightly, on the plight of those caught up – either directly or indirectly – in…
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I am proud to announce that Alicia Buckingham has joined Kevin, Ben, Sean and me as a Financial Planner at Herbert Scott, a move underpinning the firm’s commitment to ensure we are always there for our clients, day in, day out, year after year. Alicia has been part of the Herbert Scott…
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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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Over the last few months, you’ve read about the potential benefits of investing, what we consider when creating your risk profile, and how we can improve tax efficiency. Now, read on to discover why we believe reflecting on your investment portfolio during our annual review meeting is a crucial part of managing your assets over the…
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Despite the doom and gloom of rising interest rates, elevated inflation, the fear of a wide recession and the continued war in Ukraine, global equity markets[1] (developed and emerging markets combined) have actually risen in 2023. In GBP terms, they have delivered around 7.2% to the end of June, recovering most of 2022’s fall. Markets are…
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