A fifth of respondents to a survey1 have consistently spent more than they expected to during their retirement so far. Moreover, 11% of the over-55s surveyed also said their overspending had occurred early on in their retirement.
A couple of months have passed since the Autumn Budget, a significant milestone for the Labour government. A comprehensive set of measures impacting individuals and businesses were announced, featuring £40bn in tax increases. Key announcements involved Inheritance Tax, Capital Gains Tax, domicile status, VAT on private school fees, Stamp Duty and Income Tax thresholds.
The government is encouraging individuals to take advantage of the opportunity to maximise their State Pension by filling gaps in their National Insurance (NI) records for the period between 6 April 2006 and 5 April 2018.
As we head into a new year with hope and optimism – it’s a good time to reflect on your personal financial circumstances. With the 2024/25 tax year drawing to a close, don’t leave it to the last minute to get your finances in order – that includes using your tax-efficient allowances.
What to expect in 2025…
Property experts Savills are hopeful that 2025 will be a positive year for the housing market, despite some challenges.
Commercial property outlook for 2025
According to Savills, the outlook is for increased stability in the UK commercial property market for 2025, following a 20% rise in investment volumes for the office and industrial sectors in 2024.
As we step into 2025, now is the perfect time to set your financial plans in order. With changes on the horizon – like many pension pots becoming subject to inclusion in Inheritance Tax (IHT) calculations from April 2027 – it’s wise to prepare early.
As a new year dawns and we ponder what the next 12 months may hold for us as individuals and investors, one thing is for certain – some familiar challenges lie ahead.
In the latter part of 2024, the UK housing market experienced robust sales momentum, driven largely by higher disposable incomes and easing rates on some mortgages. What can we expect for the housing market as we enter 2025?
Purpose has lately become a buzzword for investors and companies. Whether ‘mission-oriented’ investing excites you or makes you want to run for the hills, aligning your wealth with your values and interests can bring rich rewards.
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