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Don’t Get Caught Out By Tax On Your Savings and Investments!
With interest rates having been so low for the last decade most of us have not had to worry about being taxed on our savings, however this is no longer the case! The Personal Savings Allowance (PSA) allows savers to earn interest on their savings tax-free up to...
State Pension – buy now while stocks last?
For most retirees, the State Pension forms the foundation block of retirement income planning. Anyone reaching State Pension age* after 6 April 2016 with full entitlement currently receives a guaranteed income of £185.15 per week (£9,627.80 pa). Furthermore, the...
Mortgage Tips for the over 65’s
In the current uncertain world, with growing costs and inflation, many people are facing the prospect of working into their later years and still need a mortgage past the age of 65. Once this might have been an impossible task but now, thankfully, this is no longer...
Later Life Lending
If you are aged 55 or older and have owned a property for several years, there’s a good chance that much of your wealth may be tied up in your home. And with average house prices increasing by around a third over the last 5 years, the equity has increased...
Make the most of your ISA allowance while you can!
Are you using your ISA allowances each tax year? You wouldn't want to miss out on a year's worth of tax efficiency, so now's the time to take a look at your savings and move your money within the tax efficient wrapper. Each person has a £20,000 ISA allowance for the...
Equity Release Myth Buster
Research shows there is a lot of misunderstanding in the later life lending market. I often have conversations with clients who make statements such as ‘I do not want to leave a debt to my family’ or ‘I cannot release equity as I still have a mortgage’. What does not...
Housing Market, Mortgages and Later Life Lending
Market Overview The housing market remains buoyant, driven largely by the Stamp Duty holiday due to be phased out by 1st October ‘21. The Pandemic has also created a lot of home movers who wanted to change their own living circumstances. House prices have been...
Women lagging behind in Financial Planning
Men undertake financial planning duties more than women, Money Management data shows. According to a survey conducted at least 43 per cent of advisers said it is generally men among married couples who take the lead in planning. As women statistically live longer than...
Taxation of pension income
Key points You can currently access your pension pot from age 55, at which point you can take up to 25% of your pension fund value as tax-free cash, either as a lump sum or regular income. The remainder of the funds left in your pension pot are then taxable as income...
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