Only recently, the UK government announced plans to ensure financial education becomes part of the school curriculum. In reality, elements of financial education have crept into other topics, such as maths, but this topic should stand alone. Even though the authorities are taking the lead concerning schooling, there is still a significant role for parents […]
Insurance policies are a critical component of both personal and business life. While public liability and professional indemnity policies are well-known and widely used, there is another policy that is often overlooked but can prove to be indispensable for your business: key person insurance. This type of insurance provides protection in the event of a […]
In light of the US subprime mortgage market crash of 2008/9, UK base rates fell to historic lows before beginning a relatively steep upturn and (hopefully) peaking at 5.25%. Consequently, the last 15 years have seen rates that do not reflect historical averages. To put this into perspective, between 1971 and 2023, UK base rates […]
Living today while planning for tomorrow is the eternal financial balancing act. But unless you know what you are trying to achieve, how will you know when you get there? How would you define financial success? From the beginning, it is crucial to recognise that your financial goals are not set in stone; they can […]
When looking to maximise your income and investment returns, it is essential to fully use tax allowances and tax breaks. While the government will often tweak and change various elements of the tax system, we have rarely faced the level of change seen since September 2022. In less than 18 months, we have had a […]
Before we look at ways of structuring asset ownership to minimise inheritance tax, it is essential to address one common misconception. People will often talk about tax evasion and tax avoidance (management) simultaneously. Tax evasion is an illegal method of minimising your tax liability, while tax avoidance is a legal method of reducing your potential […]
Life insurance and a spouse’s or partner’s passing are not subjects that are easy to discuss at the breakfast table. But unfortunately, many people put off these discussions only to find they are left financially exposed if the worst happens. The concept of using life insurance to pay off joint debts is not new – […]
When buying insurance cover, there is a temptation to renew continually, or some people may look to reduce their premiums. Very rarely do people stop to take account of the changes in their lives since they initially took out their cover, which can sometimes lead to problems in the future. What would you say if […]
As a business owner, staff retention has many benefits in terms of cost and the often unseen consequences of significant staff turnover. Therefore, it is essential to consider the cost of employee benefits against the cost of replacing low, medium and high-level staff. We have seen employers who have decided to cut employee benefits, pushing […]
While potentially struggling to cover general living expenses, many of the so-called baby boomers may have paid off their mortgage and find themselves sitting on a relatively valuable asset, their home. Consequently, there has been growing interest in equity release, but there are several pros and cons to consider before taking action. Two types […]