Welcome to our latest edition.
We aim to help you create the
lifestyle you want and believe
that anything is possible if you manage
your finances in the right way.
Inside this issue, we look at why it’s important to
consider the tax implications of making financial
decisions. The 2018/19 tax year is now upon us, and
a raft of new changes have come into force. The
good news is that there is little change in the overall
tax burden for basic-rate taxpayers. However, there
are number of areas that have changed that should
be taken note of. On page 08, we look at what you
need to know about the 2018/19 tax year changes
and new initiatives.
By the time we have been working for a decade
or two, it is not uncommon to have accumulated
multiple pension plans. There’s no wrong time to
start thinking about pension consolidation, but you
might find yourself thinking about it if you’re starting
a new job or nearing retirement. Turn to page 12 to
read the full article.
If you struggle to navigate the UK’s Inheritance
Tax regime, you are not alone. Whether you are
setting up your estate planning or sorting out the
estate of a departed family member, the system
can be hard to follow. On page 04, we look at
how getting your planning wrong could also mean
your family is faced with an unexpectedly high
Inheritance Tax bill.
Forget the Lamborghini – 2.4 million UK
grandparents have either raided their pension to
support their grandchildren, or plan to in the future.
On page 11, we look at research that shows a
quarter of generous grandparents have already
given away money to their grandchildren and have
taken the funds from their pension.