How could the government reform ISAs? Personal Finance The Labour government confirmed plans to make changes to the ISA system at its recent Spring Statement, in a bid to promote a culture of retail investment in the UK. City figures have welcomed the prospect of ISA reforms, which appear likely to be introduced at the next fiscal statement in the Autumn. It remains [...]
Should I consolidate my pension pots? Personal Finance The UK is reckoning with a proliferation of small pension pots, which is increasing costs for providers and making retirement planning challenging for savers. The cheapest Self-Invested Personal Pension (SIPP) providers According to research from the Institute of Fiscal Studies, in 2024 there were 12.1m defined contribution (DC) pension pots which held less than £1,000 [...]
How to avoid the 60 per cent income tax trap Personal Finance As more taxpayers have part of their earnings taxed at an effective rate of 60 per cent, financial advisers are working to help clients avoid the so-called income ‘tax trap’. A freedom of information request submitted by Bowmore Financial Planning to HM Revenue & Customs revealed that in 2023-24, 634,000 taxpayers earning between £100,000 and [...]
How to pick a financial adviser January 29, 2025 In a world of volatile markets and ever-changing regulation, having a financial adviser in your corner could be a shrewd move to protect your finances and ensure that you have enough money for a comfortable retirement. The use of financial advisers in the UK has slowly crept upwards in recent years. In 2022, 8.3 per [...]
