News & Resources

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

Sandwich generation

www.esmartproducts.co.uk-hFilling in the family gaps

With an ageing population and increasingly more children living at home for longer, more and more people are joining the ‘Sandwich Generation’, having to fund family at both ends of the spectrum, such as their parents and children as well as themselves.

Pressure to keep earning
It is estimated that over a million Britons are now members of the Sandwich Generation and the pressure is on them to keep earning, in order to fund the … Read the rest

WHEN IT COMES TO PENSION ANNUITIES, IT PAYS TO SHOP AROUND

Saving for your pension is only half the battle for a comfortable retirement. As a new comparison website from the Association of British Insurers (ABI) shows, annuities — the income for life you receive in exchange for your pension pot – vary enormously between providers. Accepting what your pension company offers can leave you thousands of pounds worse off.

Taking the sting out of 60% tax

The Government brought in a Personal Allowance Income Limit of £100,000 in 2010. This means now that when annual income exceeds that amount, the personal allowance begins to shrink by £1 for each additional £2 earned. Thus far, the Personal Allowance Income Limit has not been adjusted in line with inflation, so for 2012-13 it is still £100,000.

Change and opportunity in 2013

They say that RDR is "…establishing a resilient, effective and attractive retail investment market that consumers can have confidence in and trust at a time when they need more help and advice than ever with their retirement and investment planning." - we discuss in more detail.

When income tax hits 60% you can mitigate the impact

Back in 2010, the Government introduced a Personal Allowance Income Limit, which was set at £100,000. Once someone's annual income passed that figure, their personal allowance would start to reduce by £1 for every extra £2 of earnings. The Personal Allowance Income Limit has not so far been increased to reflect inflation, so remains at £100,000 for 2012-13.

Holistic Financial Planning

Holistic financial planning looks at the income and capital you have now, and how best to use this to ensure that your lifetime financial objectives become a reality.

Government may scrap higher-rate pension tax relief

An article in The Telegraph suggests that the Chancellor is now reconsidering cutting higher-rate relief as he fights to cut back public spending. A look at what this would mean, and two ideas to protect your money.

What is ‘Chartered’ Financial Planning?

The ‘Chartered Financial Planner’ qualification was introduced in 2006 to create a new standard for financial advice that is independent, professional, and regulated by strict guidelines.