The rules around Capital Gains Tax (CGT) are complex and they differ depending on your financial situation. It’s a complicated tax and, as a result, some people may get confused about how much they should expect to pay. WHAT IS CAPITAL GAINS TAX? Capital Gains Tax is a tax payable on the profits (or ‘capital gains’) you make from selling certain assets. These assets include some property, items of value such as art, jewellery or collectables, company shares or other…

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Product providers may lure Investors with the promise of glittering returns and market out performance. In reality only a few will achieve this. I believe investors are better served aiming for realistic and consistent long-term investment returns. What is a reasonable goal for your investments? The answer for many investors is market returns aligned with their risk profile. Understanding your personal risk profile is the cornerstone of constructing a suitable long-term investment portfolio. Conversely numerous academic studies have shown that…

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Have you received a financial windfall? Where are you fortunate enough to save more during the lockdowns? Here I compare different types of investment accounts in order to make the most of extra savings. Use your ISA allowance.Every adult can contribute £20,000 into an individual savings account (ISA) each tax year.You can also contribute up to £9000 into a junior ISA each year for under 18s.And ISAs has the advantage that all income and gains are tax-free.You should maximise your…

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ARE YOU CLAIMING ALL OF THE GENEROUS TAX RELIEF YOU’RE ENTITLED TO? The unique combination of tax breaks and flexible access available to pensions make them a compelling choice when saving for retirement. One of the key benefits of saving into a pension rather than another type of savings or investment vehicle is the generous tax relief you’re entitled to receive. Making the most of pension saving involves maximising tax relief and allowances which could substantially boost your retirement savings….

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UNDERSTANDING THE WARNING SIGNS TO KEEP YOUR MONEY SAFE Being online more means criminals have a greater opportunity to approach unsuspecting victims with their scams. Online scams can have a devastating financial and emotional impact on victims. Pension scammers are bombarding the public with scam calls, texts and emails and it can be easy to fall victim to such a scam. Anyone thinking about making an investment should always do their research first, visit the Financial Conduct Authority’s (FCA) website…

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PLANNING TO ACHIEVE YOUR RETIREMENT GOALS SOONER Are you ‘mid or late career’ or planning to retire within ten years? If the answer’s ‘yes’, then you probably want to know the answers to these questions: Will I be able to retire when I want to? Will I run out of money? How can I guarantee the kind of retirement I want? But, for many different reasons, planning for retirement is a commonly overlooked aspect of personal financial planning and this…

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SHARING YOUR WEALTH DURING YOUR LIFETIME CAN MAKE A BIG DIFFERENCE With all of us leading longer lives, you might be considering how you can help your family when it matters most. Sharing your wealth during your lifetime can make a big difference and bring you a lot of joy, particularly when helping younger generations who are dealing with rising house prices and university fees. After you’ve determined how much you can afford to give, there’s a simple starting point….

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HOW TO STAY WITHIN THE LIMIT TO AVOID A TAX CHARGE If you’ve been diligently saving into a pension throughout your working life, you should be entitled to feel confident about your retirement. But, unfortunately, the best savers sometimes find themselves inadvertently breaching their pension lifetime allowance (LTA) and being charged an additional tax that erodes their savings. If you are a high-income earner or wealthy individual, you could be putting too much into your lifetime pension and risk exceeding…

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Inheritance Tax is payable in the UK on death, and sometimes when you give away certain assets during your lifetime.  It can be a great concern for individuals with wealth exceeding the current £325,000 nil-rate band (2020/21 tax year). Naturally, you’ll want to pass on as much as possible to your loved ones, rather than paying 40% to HM Revenue & Customs (HMRC).  Are you worried your family could be left with an Inheritance Tax bill after you’re gone? HERE…

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