How would you like an extra £250 each year.

There are various tax allowances that can be claimed, in this edition I want to highlight the Marriage & Married couple’s allowance.I quite often encounter married couples who have different levels of tax due to their earnings. Let’s start with the level of tax someone would need to pay Income £0 – £12500 no income tax due  £12,500 – £50,000 income tax due at 20% £50,000 – £150,000 income tax due at 40%…

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Do You Pay Higher Rate Tax?

A report was conducted in 2017 to see how many U.K. adults were paying higher rate tax (someone now with an income in excess of £50,000).  The report concluded that broadly 14% of all tax paying adults are higher rate tax payers. The next question is, who enjoys paying that level of tax? If you are paying into a pension you receive something called tax relief.  Tax relief is automatically added on…

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State Pension

Have you thought about retiring? Have you thought what the state pension might provide you as an income in later life? You’d be glad to know your not the only one. In order to achieve the full state pension, current legislation states you need a maximum of 35 years national insurance contributions. With this you can expect to receive an amount of £175.20 per week (£9110.40 pa) To qualify for…

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What underpins your goals

I’m sure over time we all have goals, or something we want to achieve or perhaps do. For me I like enjoy experiences either with my better half and with the children, I even have a mental list of things I want to do /see / experience.  This stuff is day to day, but what about the bigger picture, helping my children with their first car, university costs, getting on…

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Accessing your private pensions at 57 rather than 55.

Every client’s financial journey is different, but did you know about the government’s plan that was set out in 2014 to raise the minimum age you can access your private pension benefits will be increasing from age 55 to 57 in 2028 has now come into fruition.  The increase in access age 55 to 57 has been put in line with those who are to receive their state pension at the…

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