Pension freedom gives you full access to your pension pot from the age of 55. Technically, this means that you could withdraw the whole sum at once. But there are some big reasons why in most cases you wouldn’t want to do this. Article by Armstrong Watson Financial Planning.
Holiday homes are exempt from the new buy-to-let tax treatment, so if you have a cottage going spare then there could be sunny days ahead.
They should really offer classes in tax at school – after all, it affects everyone. But perhaps the government doesn’t mind if you accidentally pay more tax than you need to? You, on the other hand, definitely should mind – so Ajay Naik of Bankfield is back with another valuable lesson. (If you missed part
We pick out the most interesting morsels from the Chancellor’s summer Budget and serve them up in easily digestible portions. Bye-bye inheritance tax (well, sort of) Most married couples and civil partners will no longer have to worry about paying inheritance tax (IHT) on their family home, as of 2017. An additional £175,000 threshold per
The dilemma: no business wants to pay more tax than it needs to. But no business wants to be accused of improper tax avoidance. Is there a safe path between these opposing hazards? Adrian Murphy, partner at Murphy Wealth, offers up some legitimate possibilities. One of the most popular questions that business owners ask us
Inheritance Tax has been described as a ‘voluntary’ tax, and with careful planning it’s possible to reduce or even eliminate the amount your beneficiaries have to pay. But even in the wake of government reforms, don’t assume it’ll no longer affect you, says financial advisory firm, Armstrong Watson. The newly elected Conservative government has promised
To general amazement, the UK elected a Conservative majority to form a new government. What could this mean for your money? Here’s a run-down of what’s happening now, what’s likely to happen, and what might. A pensioner in Glasgow staked £30,000 on the Conservatives winning a majority in the General Election, and duly raked in
What does George Osborne’s latest Budget mean for the type of people who seek financial advice on unbiased.co.uk? We consider consumer reactions from four points of view. Esme Esme is 28 years old and five years into her career in recruitment in London. She is fast climbing the career and salary ladder, single and thinking
More and more people are finding an ingenious way to beat the taxman – and the government’s doing nothing to stop them. In fact, they’re actively encouraging it. Welcome to one of the world’s safest and most profitable tax havens: your pension. Every so often we hear about another celebrity or public figure who’s been
It seems a far cry from Wall Street, with young city men eating, sleeping and drinking money. New research suggests young men are a lot less enthusiastic about finance than their female peers. We can reveal that women under 35 are more likely to do their financial homework and financial planning ahead of time. This
Fitting a ‘spousal bypass’ may sound like an uncomfortable procedure, but it’s actually a very simple way to pass on more of your wealth to the younger generation. Minesh Patel of EA Financial Solutions explains. Last year, George Osborne announced his plans to remove tax on lump sum death benefits. Such a move is broadly
Today is Tax Freedom Day! The theoretical date at which the average earner will have paid all of their taxes leaving the rest of their earnings available to spend on themselves. Simon Torry explains.