Have you checked your National Insurance (NI) record lately? This summer, a key “window” will be closing for a little-known rule about State Pensions. After 31 July the chance will be gone to fill more “gaps” in certain individuals’ NI records. Missing the opportunity may lead some people to lose out on hundreds…
Few people like to see their savings eroded by inflation, fees or taxes. A cash ISA can help you protect your money from the third by allowing you to earn tax-free interest. In principle, this may sound attractive. Yet cash ISAs may not be as useful as they appear. In this article, our Burnley financial planners explore the state of cash ISAs in 2023 and how they might fit…
Inheritance tax (IHT) stands at 40% on the value of your estate over £325,000 in the 2023-24 tax year. This could significantly undermine your goal to pass down wealth to your loved ones after you die. Fortunately, IHT can be mitigated with some careful planning. In this guide, our Burnley financial planners…
Earning over £50,271 (the higher rate) or over £125,140 (the additional rate) certainly offers an attractive income. Yet the taxes at these income levels can also be punitive. In some cases, a household’s “real” income (after tax) can be lower than another household where salaries are not as high. For instance, sometimes two parents working part-time can be more tax-efficient than a household with one breadwinner…
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