Ensuring that your savings and investment returns are minimised for taxation
Individual Savings Accounts, or ISAs, are a protective tax-efficient wrapper, ensuring that your savings and investment returns are minimised for taxation. Depending on your financial planning, you can opt for ISAs that offer instant access to your capital, perfect for short-term goals.
Pooled funds that offer various investment strategies to choose from
Investment funds, also called ‘collective investment schemes’, are often large pools of capital created by garnering small investments from many individuals. This fund is then managed by a professional or a team of professionals who decide on the assets to invest in.
A public limited company that aims to make money by investing in other companies
Investment trusts are public limited company entities listed and traded on the London Stock Exchange. These trusts are required to publish an audited annual report and accounts, and they also operate under a board of directors who oversee the trust’s manager. When you put your money into an investment trust, you essentially buy shares in that company.
Often presented as a persuasive opportunity for financial gain
An insidious kind of fraud, the investment scam, often presents a persuasive opportunity for financial gain, requiring only your monetary contribution. At first glance, these offers may appear entirely legitimate, fooling even the savviest individuals. Yet, in most instances, victims of such scams lose partial or total amounts of their invested capital.
Developing an investment strategy tailored to your goals
Committing to a financial plan is crucial for building wealth and achieving long-term financial goals. When you have a plan, you are more likely to stay focused on your objectives and take the necessary steps to reach them.
Starting estate planning early and implementing it in stages is desirable
The UK Treasury has been receiving record-breaking Inheritance Tax (IHT) receipts. IHT receipts amounted to approximately £7.09 billion British pounds in 2022/23, compared with £6.05 billion in the previous financial year[1].
Why defined contribution pensions are even more appealing for wealth transfer
The announcement of the removal of the Lifetime Allowance (LTA) from the 2024/25 tax year in March’s Spring Budget 2023 has made defined contribution pensions even more appealing for wealth transfer. This benefits individuals over 55 who intend to leave their tax-free lump sum intact with their pension to maximise their benefits.
Make sure you maximise your retirement income through annuity shopping
When it comes to using your pension pot, buying an annuity is one option that provides a regular and guaranteed retirement income for either your lifetime or a fixed term. However, it’s important to note that purchasing an annuity is typically an irreversible decision.
How bonds’ structure and tax advantages can help you pass on wealth
Investment bonds offer several benefits that some investors may be missing out on, and have become even more beneficial due to recent changes in tax regulations following the Chancellor’s decision to reduce the Capital Gains Tax (CGT) Allowance from £12,000 to £6,000 this year and to £3,000 in April 2024.
£1.3 billion pension tax relief unclaimed by pension savers over a five-year period
According to recent research, higher rate and additional rate taxpayers in the UK leave millions of pounds of pension tax relief unclaimed yearly[1]. This amounts to a staggering total of £1.3 billion over a five-year period. This unclaimed money could be in your pocket instead.
