Carry Forward could allow an individual to benefit from up to £45,000 of income tax relief on previous years’ unused pension contribution allowances, provided they have adjusted income of £210,000 or more.
In this Briefing Note we explain in general terms how Carry Forward works.
They say it’s wise to not put all your eggs in one basket. For investors, that often means looking for opportunities abroad. But when it comes to investing overseas, good performance is not just about how well the underlying companies or bonds perform. Foreign exchange rates can significantly impact returns – in either direction.
We explore how this mechanism works and what can be done to mitigate the impact of currency fluctuations on portfolios.
"I was part of a management buyout and when the sale happened, my financial position changed substantially. So, I wanted to appoint a wealth manager that could help me and my family plan our future."
The 6th April will re-set the clock on the annual pension contribution allowance. It’s therefore the time of year to work out what additional income tax relief may still be available from pension contributions. Relief at higher rates of income tax can be significant. But those on higher earnings are subject to a tapering of their Annual Allowance. It’s not a straightforward calculation, with plenty of blind spots which could lead to penalties on excess contributions.
Most businesses offer death in service benefits as part of their overall remuneration package. What can often be overlooked is that these schemes are usually set up on a similar basis to a registered pension scheme and could result in additional tax charges of up to 55% in the event of a claim.
Here we highlight how a relevant life policy could be an effective alternative to group life assurance cover.
"I was coming towards the end of my divorce and I needed someone to help manage the settlement sensibly. It was a very turbulent stage of my life where I was having to make huge decisions."
Life assurance has proved to be a dependable and non-controversial way to fund future UK inheritance tax liabilities. Can it be as simple as getting through the medical and paying the premiums?
This briefing note looks at the advantages and disadvantages of life assurance and how it can be used to help mitigate UK inheritance tax.
It has been hard to miss the term “trade war” over the last year or so. It has featured regularly in the headlines to describe the ongoing dispute between the US and China. Wars sound ominous, so should we be worried?
We explain why the two nations are now arguing over trade, what the impact might be, and the significance of a 200 year-old history lesson from Thomas Jefferson.
"I found myself responsible for the family business. After a couple of years, the levels of profitability in the business had significantly increased. That is when we turned to Edison."
Defined Benefit (DB) pensions provide secure index-linked income for life. So why are so many people tempted to give up this guaranteed income for life?
Here we highlight some of the reasons why it could be suitable to transfer benefits from a DB pension to a defined contribution (DC) arrangement.
The value of investments and the income arising from them can go down as well as up and is not guaranteed, which means that you may not get back what you invested. Past performance is not necessarily a guide to the future. The information contained in this website does not constitute advice. The FCA does not regulate tax advice. The FCA does not regulate advice on Wills and Powers of Attorney. The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.