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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Traditionally, people passed on wealth to their loved ones once they passed away through a will. However, you might be considering gifting assets during your lifetime to create a living legacy. Read on to discover the pros and cons you may want to consider before deciding which option is right for you. The benefits of passing…
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When creating a financial plan, you often start with your goals. After all, setting out your aspirations first lets you create a plan that’s tailored to you. Yet, understanding your numbers is just as crucial for successful financial planning and they could help you understand the effect of your decisions. So, which numbers are the key…
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The start of the new year is the perfect time to reflect on what has happened over the past 12 months. Although the news often focuses on disheartening events, there are plenty of heartwarming stories out there that can restore your faith in humanity. From science breakthroughs to exciting projects, here are seven stories you might…
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What makes you happy? Watching cute animal videos and indulging in your hobbies may brighten up your day, but new research suggests that genetics have more to do with your happiness than you think. TV presenter Richard Madeley’s daughter recently described her father as having a “talent for happiness”, which could be true. Think of the people in your life…
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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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December 2023 marks 120 years since the Wright brothers made their first flight in a Kitty Hawk in North Carolina. The flight lasted just 12 seconds but proved sustained flight of a heavier-than-air machine was possible and cemented Orville and Wilbur Wright’s names in the history books. The Wright brothers became synonymous with aviation and opened the door for modern…
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Some pension savers may have unwittingly exceeded a tax allowance and could now face a higher bill, figures suggest. According to HMRC data, the number of people exceeding the Annual Allowance increased by almost 20% in 2021/22 when compared to just a year earlier. The HMRC figures show more than 53,000 people contributed more to their…
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Financial reviews provide a great opportunity to ensure your financial decisions continue to reflect your goals and assess if you’re on track. They’re also useful way to reduce behavioural bias. Over the past few months, you’ve read about why financial reviews are important and why you may need to update your plan following one. Now, read on to discover why…
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If you were a fly on the wall at Herbert Scott HQ, you would witness a financial planning firm buzzing with ideas on ways we can improve our services and add more value for our clients. The customer experience is central to everything we do. As a client of ours, you may already have a strong appreciation for who we…
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