Wealth Management News

Simple paperwork error could see thousands of parents miss out on pension contributions - 12 February 2019

The Chair of the Treasury Committee, Nicky Morgan MP, has highlighted that more than 200,000 parents may face a smaller state pension due to a simple error involving child benefit. In order to receive the full state pension, workers need

Pension withdrawal amounts hit a record low - 12 February 2019

The number of pension withdrawals made by over-55s using the pension freedoms has hit a record low, according to new figures from HM Revenue & Customs (HMRC). The latest data from the tax authority shows that the average withdrawal fell

Bereaved spouses may be paying unnecessary tax on ISAs - 12 February 2019

A new Freedom of Information request has revealed that last year only 21,000 people took advantage of a tax scheme that allows a surviving partner to expand their ISA allowance to include funds from their deceased spouse’s accounts. It is

UK tops international retirement savings index with Japan - 15 January 2019

According to a new global study, pensions savers in the UK and Japan do not have to put away as much of their regular household income for retirement as the majority of developed nations. The research found that savers in

Proposed pensions dashboards will create informed retirement planning, according to Government - 15 January 2019

Millions of taxpayers will be given access to information about their pensions via an online pensions dashboard under Government plans. The free tool will allow people to access information from most pension schemes in one place online for the first

Financial illiteracy blamed for growing pensions tax take - 15 January 2019

The Organisation for Economic Co-operation and Development (OECD) has revealed that the lack of knowledge surrounding the current pension freedom arrangements has allowed the UK Government to collect more taxes than anticipated. The OECD Pensions Outlook 2018 found that financial

One in five Britons have no savings to fall back on - 5 December 2018

According to a new study, three-quarters of people in the UK – from across various social and economic backgrounds – are worried about their current financial situation. The research, put together by Salary Finance, revealed that 20 per cent of

UK mortgage approvals on the rise - 5 December 2018

The latest data on UK mortgages show that British banks have approved more mortgages for house purchases than they have done in any of the previous four months. UK Finance’s latest figures show that in October the number of mortgages

Over 50s would need £500,000 windfall to consider seeking advice - 5 December 2018

According to the London Institute of Banking and Finance, the majority of over 50s would not consider consulting a financial adviser unless they had more than £500,000 in the bank. Women were more reluctant than men are to consult an adviser,

Research reveals Inheritance Tax hotspots across the UK - 21 November 2018

New research has revealed that the affluent area surrounding Guildford in Surrey has the highest proportion of people paying Inheritance Tax (IHT). The study showed that 658 estates were subject to the tax the town in 2015/16, paying on average