June is always a packed month at school for assignments and revision. The value of a good education is immense. But what is the price each year? State £1,578 / Private £14,289/ Uni £18,450. Find out more about what you can do about it here.
When is your Tax Freedom Day? The day in the year when you stop working for HMRC and start working for you. 2021 was May 31st. When is yours? #TaxFreedomDay
April showers are unpredictable, just like investment markets. Some private investors try to reduce risk by diversifying but can be disappointed because the risk isn’t reduced as much as they imagine, or they find that too much return is sacrificed as a result. Or both. Find out what causes this, and how to more effectively reduce risk, or increase returns within the right risk level for you. Past performance is not a guide to future performance. The value of investments can fall as well as rise. You may get back less than you invested.
Is there any cheer against the doom and gloom? – You don’t have to be rich to benefit from simple actions! The backdrop is still major uncertainty – driven by the global impact of Ukraine. Let’s also not forgot inflation, supply chain issues, National Insurance increases, welfare changes, rising (yet still relatively low) interest rates, and energy price increases. There are legal and ethical ways to help retain more of your money and assets, but as some are time sensitive, don’t miss out due to distraction by global events. Find the three steps which will help you stop losing money unnecessarily to the HMRC.
Many of us hear a lot at this time of year about the benefits of sheltering our hard earned money in an ISA, and rightly so. But whilst this is a great legal and ethical way to avoid losing money unnecessarily to tax, you may still be losing significant money from your ISA for two other avoidable reasons.
Has the pandemic affected your income? Are you benefiting from a reduction in outgoings like commuting costs and entertainment? Or, has your income reduced, impacting on existing financial commitments? If this is you, don’t miss out on valuable tax allowances.
“Loss aversion” is a behavioural science concept that can lead you to focus more upon investment market performance than tax planning. But without ensuring that your assets are in the right name, ownership and tax shelter (and amended in the light of the budget statement) you could be incurring unnecessary double-digit losses. Which could put any single digit investment returns you may get into perspective! For more information read here.
The old inheritance model of assuming that you want to leave all your money to your children when you die, and that they will be young enough to need it, is broken. Changes in demographics, economics and social expectations have all meant more options for inheritance planning nowadays. To avoid family fallouts, and to minimise tax to HMRC, it’s essential to talk. Read here for more information.
Company Year End Approaching? - Don't Lose Out!
Getting a bonus? Don’t lose it to the taxman!
If you’ve retired in recent years, or if you’re fast approaching retirement, do you know what toll the pandemic has taken on your funds?
Company Year End Approaching - Don't Lose Out!
Getting a bonus? Don’t lose it to the taxman!
How to harvest your Investments for over £30k tax free income a year!
Do you know how Will Inheritance Tax impacts on your loved ones?
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