How to prevent misunderstanding and lay the groundwork for mutual financial success. Embarking on a financial journey with your partner can be both exciting and challenging. Whether you’ve been together for years or are at the start of a new relationship, planning your finances collectively can pave the way for a more secure future. A…
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As we approach one of life’s most significant transitions – retirement – many people do not engage in crucial conversations about the lifestyle they envision or assess whether they’re on track to achieve it. Recent research highlights that half of those aged 55 and over have not discussed their desired retirement lifestyle with a partner…
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Our November/December TIPS magazine is here. The amount of Inheritance Tax (IHT) paid by families has dramatically increased over the past decade, increasing from £3.1 billion in the 2012/13 tax year to £7.5 billion in the 2023/24 tax year. This rise is attributed to growing asset values and stagnant IHT thresholds, coupled with many families…
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What we do collectively this decade – including how we invest – could mark the difference between starkly different futures. Our actions now will determine whether we face a future plagued by environmental degradation or one where we have successfully mitigated some of the most pressing ecological concerns. The urgency of addressing climate change cannot…
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Thousands of mothers who have missed out on their full State Pension entitlement due to calculation errors have begun receiving letters from HM Revenue & Customs (HMRC) to address this oversight. These letters are being sent to women who have taken time off work to raise children since 1978, following the identification of underpayments in…
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The latest research reveals a significant disparity in perceptions regarding retirement experiences of the past and potential future scenarios. Over the past 50 years, a ‘hard stop’ or ‘transitional’ retirement has been the predominant way people have transitioned into retirement. A ‘hard stop’ refers to an abrupt end to working life, while a ‘transitional’ retirement…
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All of our August financial guidance factsheets are available to download below. Each one focuses on a different financial aspect to help guide you when setting and reaching your financial goals. If there is anything you are unsure about, or would like further information please contact your local Truly Independent Adviser to arrange your free…
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With 2.81 million people in the UK now away from work due to long-term sickness, ensuring employers offer comprehensive health benefits is becoming increasingly critical. This approach is essential for preventing employees from becoming too ill to work, as well as for attracting and retaining staff in a competitive job market. By providing the right…
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On 30 October, Chancellor of the Exchequer Rachel Reeves will deliver the Autumn Budget Statement 2024 accompanied by a comprehensive fiscal statement from the Office for Budget Responsibility (OBR). This significant event comes as the new government, elected to boost economic stability and growth, takes its first important step in addressing the nation’s financial health.…
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Our September/October TIPS magazine is here. On 30th October, Chancellor of the Exchequer Rachel Reeves will deliver the Autumn Budget Statement 2024. It will be a critical indicator of the government’s approach to managing the economy, aiming to foster an environment conducive to sustainable growth. The outcomes of this Autumn Budget will have far-reaching implications,…
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Given the ongoing economic pressures of rising living costs, over 55s were asked how they find the overall retirement experience. The research found that four in five (79%) of over 55s who have retired did so without the help of financial guidance or advice, preferring to opt for a DIY approach to managing their finances.…
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Effective planning minimises the burden of Inheritance Tax (IHT), allowing your loved ones to benefit more from your accumulated wealth. If the value of your estate is above the £325,000 threshold (2024/25 tax year), the part of your estate above it could be liable for tax at the rate of 40%. Fortunately, various strategies can…
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