How to Avoid Inheritance Tax by Giving Away your Surplus Income
When it comes to wealth management, inheritance tax (IHT) generates its fair share of headaches. Tax rules across the world are murky and unclear where IHT is concerned. A wrong turn when navigating this path can cost your family dearly especially in the UK. Giving Away Income to avoid Inheritance Tax Under section 21 of […]
Do you have a Pension Pot of £260,000? You may face falling living standards in retirement if you don’t
Royal London has recently published a report showing that to maintain a good standard of living in retirement you need a pension pot of £260,000. Together with the state pension, this would give you a pension of £28,000 per year, the UK’s current average wage. This is based on a scenario with no mortgage. If […]
Cancer: Are you Ready for it?
Health Insurance Saves Lives Recently, an article in the Daily Mail reported that many people were confused about what does, and does not cause cancer. According to the article the paper surveyed 1300 adults and compared this to published knowledge about cancer causes. Many that took part in the survey cited microwaves, mobile phones, and […]
The £7.6 Trillion Pension Liabilities Highlights the Need for Financial Planning Advice
New figures have emerged that shows pension liabilities have reached £7.6 trillion. This vast sum is made up of both public and private sector pension pots. This is worrying news as it is quite possible that should your employer or one of your previous employers run into difficulties, your pension could be lost in a […]
UK expat retirement success may hinge on the portability of your investments
In a survey conducted by Old Mutual International, 89% of UAE expats are planning to return to their home country when they retire. Of those surveyed, 52% of UK expats are planning to return back to their home country, while 17% are planning to retire outside of the UAE. The value of sound financial planning […]
Are you Aware of the Dangers of Pension Drawdown?
New Report Highlights ‘Risky Behaviour’ Pension drawdown has become considerably popular. Introduced in April 2015 pension drawdown (also known as pension freedom), allows investors over 55 to withdraw up to 25% of their pension pot tax-free. More of the pot can be withdrawn at the discretion of the pension pot holder. It has been hailed […]
4 Ways to Negotiate your British Tax Liabilities
Tax is not just a pain it is also complex. Information is often misleading and making sense of it is becoming an art form. Moreover, if you are unaware of how tax works it is easy to get caught out making that pay rise or bonus worthless. With this in mind, I have put together […]
Getting a £20,000 per Year Pension for when you retire
According to the Office of National Statistics (ONS) the average retired household spends just over twenty thousand a year at £21,770. This begs the question to receive a £20,000 per year pension, how much should you saving per month? Age is the Key to a Good Pension To get an understanding of how much you […]
How will you Plan a Forty Year Retirement?
Pension Age no Longer Means Armchair and Slippers Unlike the previous generation retirement no longer means a quiet life of reading the paper and walking the dog. Many who retire are still active, but adjusting to this new life can be difficult. Whether you have a good retirement or a miserable one depends mostly on […]
Footballers Come Under HMRC Scrutiny amidst Tax Evasion
Football Tax Investigations – A case of Poor Financial Advice? Jon Thompson, chief executive of HM Revenue and Customs (HMRC) has advised the Public Accounts Committee (PAC) that some footballers and entertainers have income from image rights paid into offshore accounts, avoiding paying tax in the process. This has implicated 43 players, 8 agents, and […]