Category: News

Budget 2020 – Winners and Losers

12.03.2020

Yesterday, Rishi Sunak has delivered the first Budget of the new Conservative government. With a large majority behind him, the theme of the Chancellor’s speech was to deliver the promises made in the party’s election manifesto or, as Sunak himself repeatedly said, to ‘get things done’. Of course, the coronavirus outbreak has significantly changed the Chancellor’s plans. Opening his speech, Sunak said: “We will rise to this challenge -...

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Your 2020 Budget summary

12.03.2020

After delays and the appointment of Rishi Sunak as Chancellor just weeks ago following the resignation of Sajid Javid, the Budget was finally delivered yesterday. It’s the first to be given since the UK left the EU on 31st January 2020, with the country now in a transition period, and comes amid the coronavirus outbreak. Both featured in Sunak’s address, with coronavirus being named as the key challenge facing the country, noting that there is...

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5 ways you could raise money for charity in 2020

13.02.2020

Do you want to plan an event this year to do your bit for charity? There’s more than one way to help the causes that are close to your heart to raise money to continue their good work. We’ve been inspired by Red Bull’s charity challenges that are good for the body and soul too. But if you’re looking for something a little less extreme than canoeing 125 miles along the Avon Canal and River Thames or the 1,000 km Mongol Derby, there’s...

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Insurance: Why are we more likely to protect pets and possessions than ourselves?

13.02.2020

Did you know that people are twice as likely to insure a pet than they are to take out protection for themselves? It’s a decision that could leave some people financially vulnerable. According to a study, over a third of UK employees said they have, or would take out, pet insurance. It’s a step that can reduce the chance of unexpected pet bills by paying regular premiums instead. Yet just 17% would take steps to protect themselves through...

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7 tips for securing a mortgage if you’re self-employed

13.02.2020

Millions of people are now self-employed, and it could provide more flexible opportunities for those that are traditionally employed. But, as your income may fluctuate, it can be more difficult to secure a mortgage from high street lenders. If this is something you’re struggling with or have concerns about the future, there are things you can do to improve your chances. More than 4.8 million people are self-employed in the UK. This accounts for...

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Financial wellbeing: How do you score?

13.02.2020

Ministers have launched a financial wellbeing scheme with the goal of turning Britain into a nation of savers over the next ten years. How do your finances stack up? The most recent figures from the Office for National Statistics measuring household debt cover from April 2016 to March 2018. In total, household debt was £1.28 trillion, with 91% of this being attributed to property debt such as a mortgage or Equity Release product. Not counting...

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The clever tactics criminals use to scam you

13.02.2020

Criminals are coming up with increasingly sophisticated ways to get you to hand over your money. From fake calls purporting to be from HMRC to emails claiming you’ve not made a TV licence payment, avoiding scams can be a minefield. Being vigilant is essential for protecting your wealth. Technology and internet access have made our lives far more convenient in many ways, but it's also given fraudsters more ways to scam you. A look at some of the...

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Pocket money: Passing on financial skills to children and grandchildren

13.02.2020

Knowing how much pocket money to give children or grandchildren can be difficult. Yet, for many, it’s an important part of growing up and their first taste of handling money. So, how much should you hand over? Whilst it’ll be a decision that depends on your financial situation and attitude to pocket money, understanding the average can be useful. According to Charter Savings Bank, the average amount of pocket money children in the UK...

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4 ways you can efficiently pass wealth on to the next generation

13.02.2020

Do you intend to pass on wealth to loved ones? If you want to help children and grandchildren become more financially secure, you need to consider more than just the sum you’ll be giving them. Tax rules may mean you need to think carefully about how you do so, as well as the impact it will have on you. If you want to pass on a portion of your wealth to loved ones, you essentially have two options: do it during your lifetime or as an...

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3 things to keep in mind when accessing your pension at 55

13.02.2020

For most people, their pension becomes accessible from the age of 55. If you’re nearing your 55th birthday, you might be tempted to make a withdrawal, whether as a one-off lump sum or regular income. However, using your pension as soon as you can, may have a greater effect on your retirement lifestyle than you anticipate. If turning 55 is still some way off, keep in mind that the pension age will rise to 57 in 2028. However, the same...

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