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How you can use a market correction to cut your tax bill
Thursday 08 Sep 2022Falling stock markets aren’t usually a reason for celebration, and the wild ride that many investment markets have seen this year has been unwelcome for many investors. What’s more, with a recession predicted to hit later this year, markets could hit a rocky patch once again. While no investor...
Which is better as a retirement investment: property or a pension?
Thursday 01 Sep 2022The property market has been in boom times ever since the end of the financial crisis. A chronic housing shortage, ultra-low interest rates and government stimulus schemes have all helped to deliver exceptional returns from bricks and mortar in the last 10 to 15 years. The average house price has...
How to use your pension to beat the sneaky 60% tax rate
Thursday 25 Aug 2022A sneaky quirk to the tax system means that some people pay a 60% tax rate on a portion of their income, but there is a way to beat it. Most people think income tax is charged at 20% for basic-rate payers, 40% for those earning over £50,270 and 45% for those on more than £150,000 (except those...
Want a guaranteed income for life? It’s worth noting annuity rates are going up
Thursday 18 Aug 2022There was a time when 90% of retiring investors bought an annuity with their pension pot, but in 2015, that radically changed. The pension freedoms swept away many restrictions and allowed retiring pension savers to access as much of their pension cash as they wanted. The result is that nowadays,...
How to transfer your nil-rate band and avoid a potential inheritance tax hit
Thursday 11 Aug 2022As a nation we’re paying a record amount in inheritance tax, as the value of property and has risen but the tax-free bands for inheritance tax (or IHT for short) haven’t. Government figures show that in the year to April 2022 we paid £6.1 billion in inheritance tax, a record sum and a 14% jump on...
Using a dealing account? You could be better off with an ISA or SIPP
Thursday 28 Jul 2022The surge in online brokers means that more and more people have opened trading accounts. But lots of newcomers to investing have opened the wrong account type that’s costing them hundreds (or even thousands) in tax that they could avoid. Many people who use online trading platforms will just opt...
Holiday reading for anyone who wants to learn more about investing
Thursday 21 Jul 2022The summer holiday season is upon us, and those who are brave enough to be risking travel disruption in search of more exotic climes will no doubt be thinking about what reading material to pack for whiling away the hours on the beach, or in the airport departure lounge. An engrossing bestseller...
Pension vs ISA: choosing between the two when it comes to saving for kids
Thursday 14 Jul 2022Lots of parents want to start a savings account for their child but are put off by the array of accounts on the market. From cash to investing, from Premium Bonds to regular savers, or an ISA versus a pension, there are lots of options. For the purposes of this article we’ll assume that you want to...
Parents: four things to consider before helping your child on the property ladder
Thursday 30 Jun 2022Parents are now financially involved in half of all property purchases for those under the age of 35, according to the latest estimates from Legal and General. This shows the importance of the Bank of Mum and Dad to the housing market. Estate agent Savills estimates that as of last year just shy of...
Discover how recent capital returns from Aviva are being taxed
Thursday 23 Jun 2022Investors are probably used to receiving dividends from companies, and the income tax that may be liable on those payments. But every now and then, companies choose to pay back some capital to investors, and that is taxed in a different way. Insurance firm Aviva ( AV. ) recently paid £3.75 billion...