Your Future.
Your Way.
Insightful, cost effective advice tailored to you
Your Future.
Your Way.
Insightful, cost effective advice tailored to you
Latest Article
What is long term care? As we live longer, the number of people requiring long-term care is steadily rising. Up to 70 per cent of people who live beyond the age of 85 will at some point require assistance with daily tasks. Social care is intended to provide help with the activities of daily living. These
Posted by: Jon Lawson
Last October the chancellor Rachel Reeves announced that from April 2027, pensions would form part of a deceased person’s taxable estate. This means that savers may no longer be able to pass on pensions to beneficiaries tax-free on death.How exactly inheritance tax (IHT) will apply to pensions is still being finalised by the government. The consultation
November’s budget saw some important changes to inheritance tax (IHT) rules. The IHT threshold of £325,000, which had not changed since 2009, was extended for a further two years until April 2030.There were other more complicated changes announced by the chancellor Rachel Reeves. Whereas previously pensions had sat outside of a person’s estate for IHT purposes,
Last week the chancellor Rachel Reeves unveiled her Autumn Budget – Labour’s first major fiscal event in 14 years. The Budget had three main goals: to generate economic growth; to plug a £22 billion hole in the country’s finances; and to pump money into flagging public services.Not all of the announcements in the Budget will
In Britain anyone can write a Will for payment. It doesn’t take any specialist qualifications or training to do so and Will writing isn’t regulated. In effect, there is nothing to prevent somebody from claiming to be an ‘expert’ in estate planning and charging for their services. Even some of the big banks have gotten in on
Most people won’t pay inheritance tax, but the number of people who will is rising.In 2009/10 just 2.6% of deaths gave rise to IHT. Yet according to the Institute for Fiscal Studies this figure is set to rise to more than 7% over the next decade.You might gift excess income to: Basic allowancesFor those who
WHAT ARE MY OPTIONS? Inheritance tax aka iceberg tax Here at FiveWays we sometimes refer to inheritance tax (IHT) as an iceberg tax. You don’t always see it coming, but there can be a whole lot of trouble hidden beneath the surface.The first rule of IHT is that you do not usually have to pay it
Analysing the…Budget for GrowthThe Chancellor Jeremy Hunt’s Budget last Wednesday (15 March) had one overarching goal: to steady the ship of the British economy amidst banking turmoil in the United States.Hunt’s Budget also provided an opportunity for the Chancellor to distance himself from the disastrous ‘mini’ budget of his predecessor Kwasi Kwarteng back in September.Therefore,
Changes to Social Care FundingHow to Navigate New Capital Gains Rules In September 2021, the Government set out plans to reform adult social care in England. It said that £5.4 billion would be used to fund the reforms between 2022/23 and 2024/25:The funding was initially planned to come from the new Health and Social Care
In our current state of enforced isolation, many of us have more time on our hands than usual. It’s a time when we actually get round to doing those things that we tend to say ‘I will get around to it’ but never do. Apart from all the DIY, two activities have suddenly become much more popular: writing or updating a Will, and creating a Lasting Power of Attorney.
We arranged a SOLLA/SFE joint event on 24th January 2019 at Exeter Racecourse, to listen to several speakers and to help IFAs and Solicitors to work together. The event was attended by 45 delegates and was generally regarded as extremely successful with excellent feedback.
Almost any day some news programme or newspaper carries an item about the crisis in care. NHS chiefs complain about bed-blocking by patients who cannot be discharged because social services cannot find accommodation for them. Care homes teeter on the verge of bankruptcy because the rate local authorities pay them is barely enough and costs have risen due to the Minimum Living Wage. Local authorities’ increasingly desperate pleas for more money from the government have had no response.
