Keep it in the family with smart tax planning

At a glance If you’ve spent your working life building up your assets, you’ll want to protect them for the benefit of future generations. Pensions sit outside your estate for Inheritance Tax (IHT) purposes, giving them a big role to play in passing on your wealth. There are a number of ways to reduce the […]

Why higher taxes make Pension and ISA planning crucial

At a glance For many people in the UK, pensions and ISAs are the most attractive savings vehicles available. Pensions are the most tax-efficient savings option, while ISAs are simple, flexible and can be accessed at any time. It’s wise to use pensions and ISAs together to reduce your tax liability, and the end of […]

Stop price rises damaging retirement spending power

At a glance Rising prices could damage your spending power in retirement, so review your pension plan to make sure it can still meet expectations. The longer your money is invested, the more it can potentially grow, thanks to the power of compounding – so maximise your pension contributions today. You get an automatic 20% […]

What the new government cap on care fees will mean for you

At a glance: From October 2023, the cost of long-term care will be capped at £86,000 per person. But this figure covers only the cost of ‘care’ – it doesn’t include accommodation, food or utility bills, so people will pay far more. A financial adviser can help you navigate the complex social-care system and understand […]

Make 2022 less taxing: The financial habits to get into now

At a glance: With pandemic-related uncertainty stretching into another year, getting into some good tax habits can give you valuable peace of mind. Are you missing out on important benefits? Don’t wait until the tax-year end to find out. From organising your paperwork and downloading the HMRC app to making an appointment with an adviser, […]

Be tax smart to boost your retirement savings

At a glance: Retirement can seem a long way off when you’re in your 20s or 30s, but there are opportunities available now to make life much easier later on. Tax isn’t just about money that we lose out on; pensions are a way of making tax work in our favour too – provided we […]

5 things you need to know about Inheritance Tax

At a glance Much of the tax paid on estates after death can be avoided with meticulous planning. It’s important to take maximum advantage of the exemptions, allowances, gifting and other investments summarised here. Taking advice from your St. James’s Place Partner will help you navigate the complexity of Inheritance Tax. Inheritance Tax (IHT) is one of […]

Autumn Budget and Spending Review 2021 – a summary

Our electronic Budget Report provides further analysis on the changes, key facts and figures, and useful financial planning tips. Please note that, if viewing the report on a desktop computer, you will need to have Adobe Flash Player installed. In the Autumn Budget and Spending Review this afternoon, the chancellor announced that the Office for Budget Responsibility […]

The Tax Jargon Buster

At a glance: There’s no shame in not understanding financial jargon – after all, research shows many people struggle to make sense of basic financial terms. It’s particularly useful to know what the various tax terms and acronyms mean, such as ISAs, IHT, CGT and the different pension allowances. Even if you do understand most […]

Paying for long-term care: What are your options?

At a glance: Almost half the UK population – wrongly – thinks the NHS will fund their care if they need it There are many options for paying for your own care, including income, savings, investments, immediate needs annuities and property However, it’s easy to make the wrong decisions and even risk running out of […]