Your Future.
Your Way.
Insightful, cost effective advice tailored to you
Your Future.
Your Way.
Insightful, cost effective advice tailored to you
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You may remember that, in our last email ahead of the Budget, we suggested you should take much of the media noise with a pinch of salt. The warning was simple: don’t believe everything you hear. As it turns out, that was sensible advice (if we say so ourselves).Rachel Reeves’ second Budget as Chancellor was
Posted by: Jon Lawson
Paying tax on savings interest is more complicated than you might think. Due to factors such as frozen personal savings allowances, high inflation and higher interest rates, more people than ever are finding themselves with an unexpected tax bill.Those who earn more than £10,000 from savings and investments are required to complete a self-assessment tax
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
Making important financial decisions based on pure speculation is rarely a good idea. With the Autumn Statement approaching next month, it would also be unwise to do anything drastic with your money based on what the media rumour mill is saying.Here at FiveWays we do expect to see some changes to tax policy on 30
In this week’s King’s Speech, which outlined Labour’s plans for the coming year, the 40 pieces of legislation announced by His Majesty were underwritten by a promise to promote ‘economic stability’. The new Chancellor Rachel Reeves has described ‘sound money’ as the cornerstone of Labour’s policy for government.Therefore one should not expect a raft of
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
Your pension is going up -but will you need to pay tax on it?Things are happening at present which could soon mean your tax situation is more complicated than it was in the past. Two particular factors are worth consideration. Firstly, interest rates have gone up in recent times – 14 times since December 2021; the
In recent years, property has been viewed as an ideal investment asset. In 1980, the average house sold for just £19,273. That compares to £239,927 in 2020 – a staggering 1,145 percent increase. Against that backdrop some investors have begun to assume that property prices only move in one direction: up.And this seemed true, for
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,
New Year, New Taxes:How to Navigate New Capital Gains Rules Benjamin Franklin famously said ‘Nothing is certain except death and taxes.’ Tax is a part of life, and this year most of us are all going to be paying more of it. Britain has entered a high tax era and it is important for financial
At the start of 2020, many commentators predicted flat or slightly declining house prices over the year as we waited to see what kind of Brexit trade deal the government struck with the EU. When the pandemic struck and we entered lockdown, the consensus was that prices would fall. Yet as soon as the market opened up in July, when viewings and transactions were permitted again, prices started to rise and in some areas it seems they have risen quite strongly.
