News & Resources

Financial Fitness

Time to track and celebrate your wealth goals?

With the Christmas festivities now a distant memory, money matters are firmly on people’s minds this year according to recent research[1].

A poll of more than 3,500 UK adults[2] found the most common money goals are: putting more money into their savings accounts (21%); paying off their credit cards or loans (17%); and starting a regular savings habit (15%). Some people also plan to reduce their household expenses by switching energy suppliers … Read the rest

Tips to minimise the tax you pay

Have you utilised all your year-end tax planning deadline opportunities?

As we near the 2017/18 tax year end on 5 April, if appropriate to your particular situation, we’ve provided some tax planning tips to help you maximise the use of your various tax allowances and minimise the tax you pay.

We take a personal approach to your tax needs. Informed by our detailed knowledge of your affairs, we explore some of the best options which you could consider to help … Read the rest

Average age of divorce at an all-time-high

 

Forecasting the long-term effects of the settlement

The financial ramifications of a divorce can be devastating. The average age of divorce has reached an all-time high at 45 years and 11 months for men and 43 years and six months for women, according to data released from ONS[1].

Obtaining professional financial advice is essential during a divorce, as it will set you on the right path towards a more secure future. This process is like to be a reality … Read the rest

Brexit triggers saving

Current affairs have a significant impact on how people feel about the economy

People who feel pessimistic about the UK economy or their own personal finances are more likely to plan to save more over the next 12 months to ensure they have a financial safety net, according to a Zurich survey of over 4,000 adults across the UK.

The findings suggest that current affairs have a significant impact on how people feel about the economy, with the two sides … Read the rest

That shrinking feeling

Don’t let your portfolio wealth simply drain away

Millions of Britons could see their savings shrink because they don’t know how to shield them from rising inflation. The findings are according to research by YouGov for Zurich, which found more than a third (37%) of people aged 18 to 65-plus are in the dark over ways to grow their savings enough to at least keep up with rising prices.

There are a number of different factors that may create inflationary … Read the rest

Untying the knot

 

Divorcees twice as likely to have no savings

A daunting part of a separation or divorce for most couples is sorting out the finances. Financial disputes can be a major stumbling block in the divorce process and could take longer than the divorce itself.

This is the business side of divorce, and it may be the most important financial event of your life. The choices and decisions that you make will have an important influence on your financial well-being … Read the rest

Targeting supportfor investors

Income Tax dividend allowance reduction

On 8 March, the Chancellor of the Exchequer, Philip Hammond, delivered what people had expected – a Budget of few surprises to provide a ‘strong, stable platform for Brexit’. However, he did reveal the tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018.

The Treasury Budget document stated that this was intended to ‘reduce the tax differential between the self-employed and employed, and those working through a company, to raise revenue … Read the rest

Road to Brexit

Biggest investment planning challenge over the coming years for all investors

Brexit has created an air of uncertainty, and no one really knows what’s coming next or what it could all mean in the long term. On 29 March, Prime Minister Theresa May triggered Article 50 of the Lisbon Treaty in a letter to EU Council President Donald Tusk, starting two years of divorce proceedings.

The implications of Brexit and its impact on markets is a significant investment planning challenge … Read the rest

Devil’s in the detail

Taking stock of Budget 2016

The Chancellor of the Exchequer, George Osborne, delivered his eighth Budget speech on Wednesday 16 March, his third in 12 months. Now that we’ve had time to take stock of the key announcements, we consider how they could impact your finances both today and in future years.

The Personal Allowance will increase to £11,500, and the higher-rate threshold will rise to £45,000 in April 2017 The Personal Allowance is the amount of income you can … Read the rest

Tax credit on dividends abolished

Tax-free Dividend Allowance introduced under new system

From April this year, the notional 10% tax credit on dividends has been abolished and replaced by a new tax-free Dividend Allowance. The Dividend Allowance means that you won’t have to pay tax on the first £5,000 of your dividend income, no matter what non-dividend income you have.

The allowance is available to anyone who has dividend income, and headline rates of dividend tax are also changing.

Income Tax will apply to any Read the rest

New dividend tax regime

hWhat could the new system mean to you?

From April this year, the notional 10% tax credit on dividends is to be abolished and will be replaced by a new tax-free Dividend Allowance. The Dividend Allowance means that you won’t have to pay tax on the first £5,000 of your dividend income, no matter what non-dividend income you have.

The allowance is available to anyone who has dividend income, and headline rates of dividend tax are also changing.

Income tax Read the rest

It’s good to talk

When was the last time you discussed the family’s finances?

The unexpected death of a spouse can lead to considerable financial problems if the surviving partner is not fully aware of the state of the family’s finances. All too often, couples do not fully discuss the implications of the death of a spouse or partner, and this can create additional stress that could easily have been avoided. So it’s worth taking some time out to consider the following areas of … Read the rest

Cash Flow Modelling

Visualising your financial future

In order to develop your financial plan, you need clarity over your goals, your objectives and your motivations. Cash flow modelling illustrates what might happen to your finances in the future, and enables you to plan to ensure that you make the most of your money to achieve your financial objectives.

The process of cash flow modelling shows your current position relative to your preferred position and your goals by assessing your current and forecasted wealth, … Read the rest

New domicile rules

Significant structural changes introduced from 6 April 2017

Permanent non-dom tax status will be abolished from 6 April 2017. The reform does not eliminate the tax status, but individuals who have lived in the UK for 15 of the past 20 years will lose the right to claim it.

The proposed measures: People who have been resident for more than 15 out of the past 20 years will be deemed domicile for all tax purposes, so no remittance basis will … Read the rest

Nation of savers

aFocusing on the long term for a more secure future

The UK is becoming a nation of savers, with three quarters (74%) of people saying they are currently saving, research from Scottish Widows has revealed.
The savings study found the number of savers is up to 74% from 63% in 2010, with a steady year-on-year rise in the number of long-term savers. The average amount people have in short- and long-term savings now stands at £32,407, compared to £30,175 last … Read the rest

Nation of savers

Nation of saversYear-on-year rise in the number of long-term savers

The UK is becoming a nation of savers, with three quarters (74%) of people saying they are currently saving, research from Scottish Widows has revealed.
The savings study – which polled 5,000 Britons – found that the number of savers is up to 74% from 63% in 2010, with a steady year-on-year rise in the number of long-term savers. The average amount people have in short- and long-term savings now stands at … Read the rest

Changing financial roles

Financial RolesAlmost 1 in 5 women are now the main household breadwinner

Nearly one in five (17%) of women claim to be the main breadwinner in their relationship, according to new research commissioned by Scottish Widows to mark its 200th anniversary.

Financial independence

The study of 2,000 UK women found that their financial role in the family has evolved significantly in the two centuries. While a third (37%) of women say their mothers were in charge of managing household finances while … Read the rest