Views

Our latest news, views and opinions for the business, financial and investing sectors, including personal finance.

Wealth management during volatile times – portfolio diversification is key

We're living in unprecedented times. With most of the world on lockdown and most economies on pause, now is the perfect time to be looking at your portfolio and assessing your risk, and more importantly, deciding whether your wealth management practices are ready for when we eventually emerge from the…

Making the most of your tax allowances this year

March 2020 will no doubt be looked back on as one of the most volatile in history. The coronavirus pandemic has affected our lives more than any other crisis in recent history, and its effects are likely to be felt for a long time yet. With the markets being rocked,…

Is it time to explore your ISA options?

An Individual Savings Account (ISA) enables you to save in a simple, tax-efficient way, while generally giving you instant access to your money. This gives you short, medium and long-term saving options, and with the end of the current tax year not too far away, it’s essential to make the…

What does wealth look like to you?

  Whether it’s stopping smoking, losing weight, eating more healthily or getting fitter, most of us have probably made at least one New Year’s resolution, but how many of us will actually go on to achieve it? We all have different financial goals and aspirations in life, yet these goals…

New National Savings 3-year Bond Confirmed

In the Budget last month, the Chancellor also confirmed the new National Savings and Investments (NS&I) bond, which will have a three-year term and will offer an interest rate of 2.2%. The maximum investment limit, however, is low at £3,000.  The bond will be subject to a minimum investment limit…

Capital Taxes: Inheritance tax v Capital Gains Tax

Inheritance Tax (IHT) was formerly known as Capital Transfer Tax. It is worth knowing that the capital gains tax (CGT) liability on an asset is usually extinguished on death and the beneficiary inheriting the asset is deemed to acquire the asset at probate value. This can lead to a dilemma…

Deduction of tax on Unit Trust interest payments

Since the introduction of the Personal Savings Allowance with effect from 6th April 2016, 95% of taxpayers have no tax to pay on their savings income, including interest.   Because of this, the obligation on banks and building societies to deduct tax at source from payments of interest on accounts…

Banning Pension Cold Calling

The advent of the Pension Freedom rules introduced in April 2015 has unfortunately led to an increase in the number of scams seeking to deprive clients of their pension funds.   Following a campaign launched by a Derbyshire-based financial adviser and which was supported by a number of industry bodies…

Self-Assessment First-Timers need to Register

HMRC is urging first-time Self-Assessment customers to register for a Personal Tax Account. The changes to the taxation of investment income (including dividends and bank interest) mean that many taxpayers will now no longer need to submit tax returns but those who are basic rate taxpayers and who have more…

Autumn Statement: Old News, New News, Bad News

The Old NewsThe new Chancellor’s first (and last) Autumn Statement contained little to interest us from a personal finance perspective. As usual, the Government confirmed several changes that had already been announced some time ago, including:The rise in the standard personal allowance to £11,500 and the increase in the 20%…