Tuesday 8th of October 2019
There has been a lot of talk in the media recently about the risk of a recession over the next 12 to 18 months. According to Bloomberg, the number of news items mentioning ‘recession’ has spiked in 2019 to the highest level in five years. One of the main triggers was the inversion of the yield curve which in the past has tended to precede a recession. However, we believe that may not be the case on this occasion.
Typically, investors expect higher compensation for putting their money away over a longer period to make up for the risk of infl...
Wednesday 25th of September 2019
Monday 23rd of September 2019
Under new rules, if you move out of a home that was your main residence — because of a marriage breakdown, for example — you will have as little as nine months to sell that property without being hit by a capital gains tax bill on any profits.
At present you have 18 months to sell your home after moving out before you have to pay a capital gains tax. However, that time period will be reduced to nine months from April 2020.
Take a couple who bought a house for £200,000 and lived in it for 10 years. Let's say they decided to divorce and the ...
Friday 13th of September 2019
Sarah Hogan is a Pension Transfer Specialist on behalf of Openwork and has been awarded the Gold Standard for defined benefit pension advice.
Defined benefit pension transfers have been popular in the market and the press in recent years due to the availability of Flexi Access Drawdown following a pension transfer from a defined benefit scheme. However, giving up a guaranteed, inflation proofed income in retirement for a lump sum that is not guaranteed is not right for everyone.
The FCA believes that a defined benefit scheme is, in some ca...
Friday 6th of September 2019
Over 55’s are burning a hole in their pension savings even when they don’t need to according to data published by HM Revenue and Customs. According to the data 336,000 over 55’s withdrew a record £2.75bn from their pensions between March and June 2019. Since the flexible pension rules were introduced in 2015, more than £28bn has been withdrawn from pension funds by nearly 2.2 million people and a large percentage of these were still working and didn’t really need it.
But why is this the case?
Let’s explore some of the factors...
1. “I’m a...
Wednesday 28th of August 2019
Getting fed up of everyone coming around to yours for Christmas?
Or are you rattling round a large house because your kids have grown up and flown the nest?
Or perhaps you’ve found a lovely little property in a part of the country you’ve always wanted to live?
Whatever your reason for downsizing we’ve got some practical steps to help you make the most of the move...
Whether you’re moving into a two-bed bungalow or a one-bed flat, you’ll still need to know how much less space you’ll have in your new home so that you can take ...
Thursday 22nd of August 2019
It’s a small price to pay
Ah, that daily takeaway coffee on the way to work – it’s a little bit of luxury for just a couple of pounds.
But for less than that, you could provide something even more satisfying: peace of mind for you and your loved ones.
An essential ingredient
Far from being a luxury, Family Protection (or more specifically, Life Insurance, Critical Illness Cover and Income Protection) should be considered essential – especially if other people rely on your income.
It can provide funds to help deal with the financial consequen...
Monday 12th of August 2019
You know it’s smart to start a pension when you’re young. But did you know that if you’re saving towards a pension between the ages of 18 and 75, you can receive signiﬁcant contributions from the government on top of the amount you save?
There are rules regarding how much you can contribute to a pension and how much the government will add to your contributions through tax relief.
The value of investments and any income from them can go down as well as up and you may not get back the original amount invested.
Tuesday 6th of August 2019
In the early years this might translate into a surplus of toys or days out, but this stage eventually passes, and thoughts turn towards the future transition from child to adulthood and beyond.
This longer-term perspective raises the question of how best to provide financial support through, what could be an expensive transition and inevitably this leads to a variety of issues:
- Are there particular needs which should be targeted or is it more important to have money available as and when your child needs it?
- Which investments would be...
Monday 29th of July 2019
The government launched its Help to Buy equity loan in April 2013 and since then 210,964 properties have been bought under the scheme.
First-time buyers and people moving to a new-build home worth up to £600,000 have benefited from the scheme, which provides an equity loan of up to 20% of the cost of the property interest free for the first five years. But what happens when you come to the end of the interest-free period?
If you haven’t paid your equity loan off by the end of the five-years, you’ll be charged 1.75% interest...