Time for an inheritance tax rethink
Estate planning is something many of us put off for understandable reasons. However, procrastination has become an expensive option following the changes to inheritance tax (IHT) introduced by the Chancellor in her last two Budgets.
What does The 2025 Budget mean for your pension?
The Chancellor’s Budget introduced a significant change to workplace pensions, with National Insurance (‘NI’) relief on salary sacrifice pension contributions to be capped at £2,000 per year from April 2029. This measure could have far-reaching consequences for employees, employers and the pensions sector.
Are you heading for retirement poverty?
In April, the New State Pension increased by £9.05 (4.1%) a week to £230.25. Almost simultaneously, the National Living Wage (NLW) rose by 77p (6.7%) an hour to £12.21. That NLW rate equates to £427.35 for a 35-hour week, just short of £200 a week more than the State Pension. The gap between the two underlines the need for private provision to make retirement affordable.
Think long term to achieve your goals
We all have tendencies and biases that creep into our everyday lives, these apply to the investment decisions we make too. Understanding some of your behavioural biases can help you make better investment decisions and keep you from falling into some basic behavioural finance traps.
The 8th Wonder: Compound Interest
Chris Green, Head of Financial Planning at City Asset Management shares a new prospective on compound interest.. The 8th Wonder of the world!
AI-Powered “Hi Mum” Scams: The growing threat to UK retail consumers
It’s a simple text message that many UK mums will recognise all too well: “Hi Mum, it’s me. My phone’s broken – this is my new number.” Most parents would quickly respond, reassured by a message they’ve likely received from their child before. However, scammers are increasingly exploiting this familiarity to manipulate unsuspecting victims into sending money. And with the rise of artificial…
Market Commentary: Post Liberation Day
City Asset Management’s Chief Investment Officer, James Calder, chats with Jason Armstrong-Butler and James Ross-Russell from our Investment Committee about the recent market volatility. After discussing what’s driven volatility across markets, the team highlight the resilience of our multi-asset portfolios in these challenging conditions.
Inheritance Tax Relief on Business Assets and AIM Shares
According to HMRC’s latest statistics, Inheritance Tax (IHT) receipts for April 2024 to December 2024 were just over £6.3 billion, which is more than £0.6 billion higher than the same period last year, of just over £5.7 billion. And, for December 2024, receipts were £620 million, which is considerably higher than the receipts for December 2023 of £547 million.
Tax planning early is key
You may be aware that HMRC have published the latest figures on tax receipts from April 2024 to May 2024. Whilst tax cannot obviously not be completely avoided, the latest short term figures highlight that early and ongoing planning will help to mitigate taxes in a sensible way, which are compounded over a person’s lifetime.
Junior Pensions - the under-rated, compounding powerhouse
Gifting to children or grandchildren is an excellent way to set them up for a brighter future. But there is one option that often flies under the radar - the Junior Pension. We look at the benefits and drawbacks to this investment option.
Financial First Aid Kit: Tips to help protect yourself against financial crime.
Sadly there are a large number of scammers targeting investors. We have therefore put together a ‘Financial First Aid Kit’ to help you avoid becoming a victim.