Archive for the ‘Financial Planning’ Category

Image courtesy of Flickr_Sheila Sund

Planning: The joy of tidying

Prioritise peace in your life: extend the Marie Kondo tidiness craze from your home to your finances. Have you ever looked at a room in your home – or even at your office desk – and wondered how you accumulated so much stuff? You might well remember when you acquired each item, but the questions [...]

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Image courtesy of Flickr_Sheila Sund

Self-employed pensions boost

The Chancellor has abandoned plans to abolish class 2 national insurance contributions (NICs). Those registered as self-employed pay class 2 NICs if their profits are more than £6,365 a year in 2019/20. Then if profits exceed £8,632, they also have to pay class 4 NICs. Typically, these NICs are paid through the self-assessment system. The [...]

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Image Courtesy of Flickr_Ishan Manjrekar

Ringing the changes of the new tax year

The tax year 2018/19 ends on Friday 5 April, which means it’s time to start planning for the new tax year and tie up the loose ends of the old one. Planning for the new tax year is now affected by the shift of the Budget schedule to autumn. The result is that changes announced [...]

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Keeping your head – the psychology of investment

Understanding your personal biases can help you form investment strategies that work for you across good times and when the going gets tougher. Traditional finance theory starts from the principle that markets and their investors are perfectly rational. A quick look around will convince you that such an idea is optimistic to say the least. [...]

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Planning for the 100-year life

Your chances of reaching 100 are probably greater than you imagine. It may sound fanciful, but a 100-year lifespan is well within the bounds of probability. That could have profound implications for your retirement planning. While the average 70-year-old man now has a 4.1% chance of reaching his 100th birthday, an average 40-year-old woman has [...]

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Image courtesy of Flickr_Sheila Sund

Building your assets with infrastructure funds

Infrastructure funds are one of the less well-known types of investment, but they can offer options for those looking to diversify their portfolio. Infrastructure funds offer investors the opportunity to put their money into large physical assets, for example: – Transport assets, such as bridges, toll roads, ports, airports and rail companies. This may include [...]

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Image Courtesy of Flickr_Ishan Manjrekar

Reap the rewards of regular savings

A regular savings plan is one of the most effective ways of building a nest-egg for the future. Saving regularly can be a painless way to accumulate funds, particularly if you set up a direct debit to deduct this money on pay day. Set aside £100 a month, and you will have squirrelled away £1,200 [...]

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Spring Statement

The Spring Statement is one of two financial statements the Chancellor makes each year to Parliament, the other being the Autumn Budget. The Spring Statement provides an update on the Office for Budget Responsibility’s economic forecasts but is not intended to include any major tax and spending announcements. The Chancellor made the Statement today at [...]

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Keeping it in the family

Careful planning can reduce or even eliminate the Inheritance Tax payable. Intergenerational planning helps you put financial measures in place to benefit your children later in life, and possibly even your future grandchildren, so it’s important to start planning early. You may want to keep an element of control when passing on your assets. You [...]

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Image Courtesy of Patrícia Almeida on Flickr

Paying Inheritance Tax

Estimating how much liability you could leave behind for your loved ones Usually the ‘executor’ of a Will or the ‘administrator’ of the estate pays Inheritance Tax (IHT) using funds from the estate. An executor is a person named in the Will to deal with the estate – there can be more than one. An [...]

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