In the 2023 Autumn Statement, Chancellor Hunt announced that the State Pension would receive an 8.5% increase in April 2024. By doing so, he confirmed the continuation of the “triple lock” system (which was suspended in the 2022-23 tax year), much to the relief of many pensioners. However, what will pensioners…
Investing can, admittedly, be an intimidating topic for many newcomers. The jargon can be confusing and the volume of information can be overwhelming. Fortunately, learning to invest does not need to be this way. By grasping the essentials of how to build a portfolio, you can empower yourself…
Are you set to keep as much income as possible in 2024? With the end of the financial (tax) year looming in April, January is a great time to get your affairs in order – avoiding the last-minute panic that can arrive in February and March (when accountants get swamped!). Fortunately, optimising your tax plan…
A stealth tax is a clever way for the government to raise money from taxpayers without overtly calling it a “tax rise”. A direct tax rise – e.g. increasing the Basic Rate from 20% to, say, 25% – risks drawing a lot of negative headlines and potential punishment at the polls during the next election…
What is a 0% credit card and how does it work? Are they a good idea and can they have a legitimate place within a broader financial plan? Financial planners tend to encourage clients away from credit cards because the interest payments can be very punitive – eroding your income and undermining your progress…
When, exactly, should you start that next exciting stage of life – retirement? This is a very personal, often complex decision influenced by many factors. Indeed, there is no single form of retirement. It can look different from person to person. Below, our financial planners in Padiham offer some ideas…
Suppose you suddenly find yourself with a cash windfall – possibly from an inheritance or from selling your stake in a business. If you want to invest the money, how should you do this? In particular, is it best to invest everything at once; or, “drip feed” it gradually into a portfolio? There are pros and cons…
A lot of attention is given to people who want to build a financial plan for their estate. Yet what about those who potentially stand to inherit it (the “beneficiaries”)? Receiving a large sum of money and/or valuable assets could be transformative to your finances if used prudently. However, without planning…
If you have recently received a large bonus, then first of all – congratulations! It is a great feeling to be financially rewarded for hard work. However, a high tax bill on your new-found money is a less pleasant experience. Are there ways to protect your reward from the tax man? How can you invest a bonus…
Do you dream of owning a second home, perhaps to let out or occasionally use for holidays? Maybe you already hold such a property. In any case, being a second homeowner carries risks as well as opportunities. Tax erosion, in particular, can be an example of the former. In this guide, our Padiham…
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