Last week in the City City Talk This week, China warned the US that it is not afraid of engaging in a trade war, the Federal Reserve hiked interest rates again, and Facebook shares plummeted after allegations that millions of users' profile data had been harvested. The FTSE 100 was down 3.5% over the course of the week by mid-session on Friday. [...]
Divorce and financial planning City Talk Going through a divorce is a stressful transition but there are some important considerations which can be taken into account early in the separation process in order to minimise complications down the line. The process will probably be overseen by a family lawyer but, given the complexity of any given person’s finances, consulting a financial [...]
Lasting power of attorney and IHT planning City Talk An essential part of financial planning is ensuring that a trusted representative can continue to manage a person’s affairs in the event of the worst happening. Establishing a lasting power of attorney, however, can set limitations on inheritance tax (IHT) planning. A lasting power of attorney (LPA) is a legal document that gives trusted appointees [...]
Last Week in the City: Trump signs order for tariffs March 9, 2018 This week US President Donald Trump signed off on new tariffs on steel and aluminium imports, Trinity Mirror revealed plans to rebrand, and the European Central Bank took a further step towards ending stimulus measures. The FTSE 100 rose 1.9 per cent over the week by mid-session on Friday. Economics China will pursue annual growth [...]
Pension planning is more important than ever March 7, 2018 Research from the Organisation of Economic Co-operation and Development (OCED) has shown the UK to have the least generous state pension of all advanced economies. Private pensions are playing an increasingly vital role in providing an adequate income in retirement. The OECD published a report in December which claimed that the UK state pension is [...]
Saving for school fees March 6, 2018 A good education can be predictably expensive. Parents can now expect to pay upwards of £200,000 in order to secure their children a private education, from nursery to upper sixth. The onset of autumn is synonymous with the start of the new school year and parents of young children, or prospective parents, might be looking [...]
Access Denied: The fight against cyber criminals March 5, 2018 Cyber-attacks defy borders and jurisdictions and are recognised as a Tier One threat to national security by the UK government. As the world becomes more connected, the attacks are becoming stronger, more frequent and more sophisticated. Nearly half of UK businesses identified at least one cyber security attack in 2016, according to UK government data, [...]
Beat the shrinking dividend allowance February 23, 2018 Changes to the way dividends are taxed stand to leave investors exposed to an unwelcome tax charge from April. Investors can mitigate this risk by making the most of all their available tax-free allowances. The government has been tweaking the rules surrounding dividend income for a while now. In 2015, it was announced that the [...]
Is inheritance tax too complicated? February 22, 2018 The chancellor has requested a review of the “particularly complex” UK inheritance tax regime. What is it that makes inheritance tax so complicated? Chancellor Philip Hammond recently wrote to the independent Office of Tax Simplification (OTS) in order to call for a review of inheritance tax to make sure the system is "fit for purpose". [...]
Claim your refund on power of attorney applications February 21, 2018 The UK government is offering a refund of up to £54 to individuals who have previously applied to register a power of attorney. A lasting power of attorney (LPA) is a legal document that gives trusted appointees the ability to make decisions on the behalf of someone no longer able to do so, such as [...]
