One way of ensuring that your loved ones receive assets is to pass them over while you’re still alive. However, this needs careful thought as you may not want to relinquish control and you need to make sure you keep enough yourself to live off – a difficult balancing act. The first stage As a [...]
Here are a few figures worth knowing in 2020–21 to help maximise your tax allowances and exemptions: Personal taxation The National Insurance threshold is £9,500 and the Personal Allowance remains the same as last year, at £12,500. Pensions The Annual Allowance for pensions is £40,000 and begins to taper (to a minimum of £4,000) for [...]
Coronavirus has affected every aspect of our lives, particularly our financial stability. The crisis has acted as a stress test for the nation’s finances, highlighting the fragility of many people’s financial safety nets. It has compelled individuals to take a closer look at their finances to see how they can reduce their expenses and become [...]
