Research1 suggests that nearly one in five people are, or will be, financially worse off due to their divorce, and that many divorcees struggle to make ends meet after separating from their partner. The statistics make for worrying reading. A third of divorced respondents said they were forced to take money from their savings to […]
Category archives: Pensions & Retirement
Trust Registration Service update
The Trust Registration Service (TRS) opened in 2017 with the aim of digitalising the trust registration process. Following the UK’s adoption of the EU’s Fifth Anti-Money Laundering Directive (5MLD) in 2020, changes to the TRS were required in order for HMRC to fulfil its obligations under the new regulations. The new rules require all UK […]
Your retirement – no two are the same
The Class of 2022 retirement report1 provides a riveting insight into the plans and thoughts of those either planning to retire this year or recent retirees, really highlighting the changing face of retirement in the UK. The last couple of years have impacted people’s plans, with people reassessing what retirement looks like to them. Less […]
Wealth – In the news
Numbers of those exceeding pension Annual Allowance on the rise In the past five years, the number of individuals whose yearly pension contributions breached the Annual Allowance (£40,000) has soared by more than 675%1. In the 2015-16 tax year, 5,460 people reported pension contributions exceeding the Annual Allowance in their self-assessment forms. For the 2019-20 […]
Investor sentiment and super trends
A new investor sentiment survey1 shows that, while investors are concerned about both the economic impact of the war in Ukraine and rising inflation, they remain confident about the stock market outlook and are not adjusting their portfolios just yet. Two thirds of investors surveyed said they expect the ongoing conflict to result in higher […]
Purposeful wealth – understanding your ‘why’
Most people would agree that wealth is not about hoarding money but the financial freedom and flexibility it affords to help us achieve our passions and goals. Wealth essentially has the capacity to create a powerful purpose within our lives, provided we are able to unlock its true value. A good starting point for unlocking […]
Your retirement – you reap what you sow
Hindsight, they say, is a wonderful thing and that is certainly true for many retirees struggling financially. Diligent planning at the earliest opportunity, however, can make all the difference between enjoying a comfortable retirement and enduring a regretful one. Retirement regrets Research constantly shows that people typically leave retirement planning too late and regret not […]
In the driving seat
Many people have used the last couple of years to make positive life changes. Three in five people have questioned what is important in life, while half feel their priorities have changed1. Two in five credit the pandemic with encouraging them to build more long-term savings. However, one in four now feel less comfortable about […]
IHT reporting – all change
Keeping up to date with tax changes can be challenging and you may have missed this one in relation to the reporting of Inheritance Tax (IHT), especially as it’s not something most of us will deal with very often. ‘Excepted estate’ The changes came in at the start of the year and apply to the […]
Pensioners sitting on cash ISAs
An alarming set of data has come to light. Over three million pensioners are holding all of their ISA savings in cash!1 The analysis highlighted that during the most recent year for which figures were available (2018/19), there were 5.8 million over-65s holding ISAs, valued at just over £305bn in total, the average amount held […]