Time to review your Will?

Until 2007, it was standard advice to people whose estates would potentially be liable to pay inheritance tax to include in their Will a trust into which part of the value of the estate would pass. In most cases, this is no longer appropriate. The reason for the trust...

Three minutes with…

Emma Prescott joined our team to provide administration support to the financial advisers.  Let’s find out a little bit more about here in three minutes… Summarise what you do in one sentence: Corporate employee benefit advice, administration and broking....

Longevity

Greg McClymont, the Pensions Minister in the coalition government, has produced an interesting report on an academic study of longevity. It was Mr McClymont who, when asked in an interview what if anything kept him awake at night, replied “Andy Murray’s second serve”....

Year-end tax planning

The tax year end is approaching and calls for a review of personal finances: Pension contributions The maximum pension contribution on which tax relief can be claimed in any one year is £40,000, but if funds are being withdrawn under a flexible drawdown arrangement,...

Bank of England loose cannon

In the past the Bank of England has usually confined its public utterances to periodic pronouncements from the Governor,and has disdained to engage in populist discussion. However, its chief economist, Andy Haldane, has recently broken cover, with results which do...

HMRC’s ‘snooper computer’

The ‘Connect’ computer system created by HM Revenue & Customs to assist in identifying people who are paying less tax than is due is being used for the first time in the current tax year. Instead of relying purely on information provided by taxpayers through their...

School fees planning

Parents wishing to give their children the benefit of a private education face startling costs.  The average fee for a boarding school is over £30,000 a year for a single pupil, and for day pupils over £17,000. Then there are the costs of extras such as clothing and...

Lifetime ISA penalties deferred

The government has announced that the penalties resulting from the withdrawal of funds from LISAs before age 60 or for purposes other than the purchase of a first home will not apply until the tax year 2018/19. However, the Financial Conduct Authority has warned that...

The writing on the wall

HM Treasury has issued a new factsheet titled “Ways to save in 2017”, which describes Premium Bonds and the various forms of ISA but omits any reference to pensions. A similar factsheet issued in 2016 contained no such omission, and this has prompted suggestions that...

Three minutes with…

…Carl Mountain, Consultant. Summarise what you do in one sentence: I provide financial planning advice to individuals. What does a typical work day look like for you? I spend the day seeing clients or speaking with them on the phone or email.  My role is to help...