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Divorce and your pension – a supporting role

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 […]

Good to know – JISA to adult ISA transition period

Currently a Junior Individual Savings Account (JISA) can be held by a child until the day they turn 18, the annual allowance for which is currently £9,000. On their 18th birthday, the child can open an adult stocks and shares ISA, the annual subscription which is currently £20,000. All pretty straightforward. Now, for the interesting […]

News in Review

“These are challenging times” In a week where droughts were officially declared across England, the Office for National Statistics’ (ONS) latest assessment of the UK economy revealed tough economic conditions. In the second quarter, the UK’s gross domestic product (GDP) fell by 0.1%, largely the result of a 0.6% monthly dip in June. According to […]

Five common mortgage myths

Getting a foot on the property ladder is an aspiration that dates back generations. Unfortunately, some mortgage myths are just as old. If you’re looking to buy in 2022, it’s important to know fact from fiction. 1. MYTH: You need a perfect credit rating A bad credit history can have a negative impact on your […]

Know your pension numbers

With so many financial priorities to juggle, it can be hard to put your pension first, especially with spiralling household costs. Starting or maintaining your pension contributions is important. Whatever type of pension plan you have, you get tax relief at the highest rate of Income Tax you pay on all contributions you make, subject […]

Revisiting your IHT strategy

Latest data from HM Revenue & Customs (HMRC) revealed IHT receipts for April 2021 to March 2022 were £6.1bn, 14% (£0.7bn) higher than in the same period 12 months earlier. Factors at play Receipts have increased partly due to higher death rates during the pandemic, as well as due to the rise in property prices […]

Don’t give up your protection policy

With households facing the biggest squeeze on their incomes in many years, it’s understandable that families are looking for ways to cut costs. When looking to cut back, reviewing subscriptions and direct debits (for example, for streaming services, food subscription boxes or gym memberships) is often a good place to start, but there is one […]

News in Review

“It’s our job to get inflation back down to 2%, so we have raised interest rates” After five successive smaller rises, last week saw the Bank of England’s Monetary Policy Committee (MPC) up the ante and increase Bank Rate by 0.5 percentage points, the biggest rate hike since the MPC was established in 1997. At […]

News in Review

“The world’s three largest economies are stalling, with important consequences for the global outlook.” Last week saw the International Monetary Fund (IMF) release its latest economic assessment andforecast for the global economy. Following the effects of the pandemic and Russia’s invasion of Ukraine, the IMF now expects growth to slow to 3.2% in 2022, a […]

Economic Review – July 2022

UK economy expands in May The latest gross domestic product statistics show that the UK economy unexpectedly grew in May although forward-looking indicators still point to a deteriorating outlook. Figures released last month by the Office for National Statistics (ONS) revealed that the economy returned to growth in May after contracting during April. In total, […]