BlogGifting rules and inheritance tax
Following an in depth study conducted by the National Centre for Social Research (NCSR) and the Institute for Fiscal Studies (IFS), it has been discovered that only one in four people making financial gifts are aware of the risks of inheritance tax. Further to this, they found that only 45% of gifters reported being aware
Make the most of diversification.
Diversification is a word that seems to get tossed around a lot in conversations around savings and investment. We hear it often, but what does it mean? Put simply, diversification is a risk management strategy that mixes a variety of investments within a portfolio. Through having different kinds of assets in a portfolio, the goal
“UK Tax system is unfair,” say small businesses
The British Chamber of Commerce (BCC) conducted a tax survey throughout January and February of 2019 that produced some interesting findings. The survey covered more than 1,000 businesses across the UK, 96 per cent of which were SMEs with fewer than 250 employees; 68 per cent of the businesses were in the service sector and
Defined Contribution vs Defined Benefit
As defined contribution pension plans overtake defined benefit (in terms of money paid into schemes) for the first time ever, more and more people are taking an interest in how the two differ and the relationship between them. The Office of National Statistics (ONS) has reported that in 2018, employee contributions for defined contribution pension
Auto-Enrolment changes put pressure on SMBs
April 2019 saw the increase of minimum contributions to auto-enrolment pensions from 5 per cent of wages to 8 per cent. With employers now required to contribute 3 per cent, rather than their previous 1 per cent, the Federation for Small Businesses (FSB) has warned that this could put “substantial” pressure on small businesses. The
House of Lords urges Government to scrap triple lock
The triple lock guarantee currently secures the rise of state pension payments at the beginning of each tax year. However, after an investigation by the Select Committee on Intergenerational Fairness and Provision, a case has been made for the removal of the guarantee. In its report, Tackling Intergenerational Unfairness, the committee outlined that the maintenance
6 bad habits to avoid during retirement
Planning for retirement can be complicated, as anyone approaching the end of their working life will tell you. However, navigating the myriad of choices, both financially and socially, doesn’t have to be such an enigma. Here are a few tips to help you avoid common bad habits that retirees often fall into: 1. Spending your
April markets in brief
April was, on the whole, a positive month for global stock markets. All major stock markets gained over the month, with the notable exception of China. The thawing of Chinese-American trade relations and the expectation of a recovery of growth in China has meant that global markets saw a largely buoyant month overall. UK Despite
The UK is struggling to save; what are the implications?
A study found in 2018 that one in four adults have no savings. Many residents in the UK wish that they had cash to save, however high monthly outgoings and debt clearance seem to take priority. Saving for the little curveballs that life throws your way is a good way to maintain a sound mind, but poor
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May markets in brief
June 12th, 2019• Comments Off on May markets in brief• Posted By Greenwood
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