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Many people have heard of the term, but don't understand what it is or how it works. Equity release is an option for homeowners to release tax-free cash from their property. It is becoming an increasingly popular way for people in or approaching...
In simple terms, Capital Gains Tax (CGT) is a tax charge applicable to the gain/profit on the sale of an asset, caused by an increased value in comparison to the purchase price. Most commonly this applies to second properties, shares, investments, the sale...
More and more, individual investors are feeling a greater social responsibility and a desire to protect our planet’s resources, they want their investments to do some good rather than focusing on maximising returns. They are choosing to put their money...
As we move into the new tax year, we are reminded that 2022/23 may be particularly tough on our finances. It is essential to look ahead and be prepared for changes to the law and how these might affect your tax and other financial circumstances. In this...
The combined pressure on the UK’s economy from the coronavirus pandemic and the war in Ukraine took centre stage in the Chancellor’s 2022 Spring Statement, as he outlined his planned support for households and businesses. Keeping a tight...
There is still much uncertainty about the true impact of coronavirus on all aspects of our lives. Inheritance tax is no different, with the fallout of the pandemic affecting the value of estates, inheritance tax planning, and the valuation of business assets...
Premium Bonds have just turned 65 years old and are still a firm favourite with savers. From humble beginnings Premium Bonds have gone from strength to strength and are as popular as ever with the chance of winning the top prize of £1m. How good are...
Talk Money Week 2021 takes place on 8-12 November. The annual awareness week is an opportunity to help people have more open conversations about money and increase their sense of financial wellbeing - from pocket money to pensions. Research shows that the...
Inheritance Tax (IHT) is payable on everything you own with a value on your death, including your home, your savings and investments, your jewellery, your car, and any other property or land. It is most commonly paid on death, however there may be some...
Pension Awareness Day aims to highlight the importance of pension savings. The pensions industry comes together to help the public and employers understand pensions and how to achieve the retirement they want. Pension Day will help focus your mind and what...
To say that 2020 has been a challenging year is an understatement. Some people have faced ill-health (physical and / or mental), others have lost their job and the rest of us are coming to grips with the readjustment of our daily lives. A silver lining...
Over the last few years families have found that with the increase in the value of property and other assets they may potentially be facing an inheritance tax liability upon the passing of parents and other near family members. The nil rate band for...
Premium Bonds are operated by NS&I which, rather than being a bank, is backed by the Treasury, this means your capital is as safe as it gets compared to the £85,000 protection afforded under the Financial Services Compensation Scheme (FSCS) You...
Many parents and grandparents are keen to pass on their wealth to loved ones, but there is little understanding about how this can be done in a controlled and tax-efficient manner. When someone dies, their estate becomes liable for inheritance tax . In...
What is Equity Release? Many people have heard of the term, but don't understand what it is or how it works. Equity release is an option for homeowners to release tax-free cash from their property. It is becoming an increasingly popular way for people...
Retirement – The Road Ahead We may have to work for 40 years to enable us to enjoy the retirement we dream about. Although everyone's vision of retirement is different, they all require the same thing – enough money to fund it. As...
Chattertons Solicitors are open for business. However we are following government recommendations and would encourage you not to visit any of our offices except by prior arrangement. We are closely monitoring the developments of COVID-19 and are...
When George Osborn, then Chancellor of the Exchequer, announced the launch of Innovative Finance ISAs (IFISAs) back in 2016 there was much hype about how they would be an exciting new way to invest, bringing investments previously only open to the ultra high...
HM Revenue & Customs (HMRC) has reported a new record high for Inheritance tax (IHT) receipts in 2017/18 with around £5.2 billion being received, a £400 million year on year increase in the amount received in 2016/17 last tax year,...
A recent report by the UK’s National Cyber Security Centre (NSCS) shows that millions of us are using passwords, on sensitive accounts, that are almost laughably easy to crack. The NSCS conducted an analysis of passwords found in public databases...
Beware of Pension Scams Pension freedom has enabled those approaching retirement to consider a much wider choice of alternative options as to how to employ the pension funds that they have accumulated through their careers. However, unfortunately the...
UK Personal Debt The media has recently given considerable coverage to the issue of personal indebtedness in the UK. In this article we consider the latest data available on the extent of personal debt in the UK, the impact that such personal indebtedness...
Your first meeting will be free of charge. We will tell you the regulatory information and also tell you about our background in financial services. We will go through what is called a fact find. This is a gathering exercise to establish your income,...
The City of London Police Economic Crime Directorate is recognised as the national policing lead for fraud and is dedicated to preventing and investigating fraud at all levels. According to their figures, some £51 million worth of investments was lost...
A Financial Times report in June revealed that many thousands of people have been receiving the wrong amount of state pension. The errors have resulted in both under and over-payments so that some pensioners will see a fall in the amount they receive...
Premium bonds are an incredibly popular savings vehicle with over 21 Million bond holders and around £72 Billion ‘invested’. And yet, they really aren’t a savings vehicle at all. There is no interest rate although NS&I...
WHAT IS EQUITY RELEASE? Equity release allows individuals aged 55 and over to release money from the property they live in without having to make any monthly repayments. There are two types of equity release; Lifetime Mortgages and Home Reversion...
Are you someone that likes to see the bigger pictures, that builds schemes and frameworks for, or are you someone that likes to see the detail and likes to build a clock rather than tell the time? Top Bottom What? This area is actually a lot more simple...
When you go into a clothes store, do you immediately head for the offers section to see if you can hunt out a bargain – or do you go to the new releases aisle to get the best quality? Value / Growth These are two sides of the same coin. There is...
People think differently. I was in a coffee shop the other day and, like most people in the bewildering setting of a coffee shop, was stunned by the sheer variety on offer. If you think a coffee shop can be confusing, there are only normally 6 different...
What can I buy with my pension? Read on to find out… Can I buy my house? No. Can I own my house with a company and buy the company with my pension? No. Can I buy a buy-to-let with my pension? No – not ever have or will you ever be...
After the success of the last five ‘money basics’ articles we are continuing this theme with a series of articles on focused subjects. The next five will be covering the overly complex subject of pensions in a little more detail. So, we’ve...
After the success of the last five ‘money basics’ articles we are continuing this theme with a series of articles on focused subjects. The next five will be covering the overly complex subject of pensions in a little more detail. Last week we...
After the success of the last five ‘money basics’ articles we are continuing this theme with a series of articles on focused subjects. The next five will be covering the overly complex subject of pensions in a little more detail. Last time we...
After the success of the last five ‘money basics’ articles we are continuing this theme with a series of articles on focused subjects. The next five will be covering the overly complex subject of pensions in a little more detail. As these...
Money basics is a series of short articles where we will explore several themes that confuse and bewilder and try to break down all the legalistic jargon into plain English. Previous articles have covered pensions bonds/endowments ISAs Life insurance. The...
Money basics is a series of short articles where we will explore several themes that confuse and bewilder and try to break down all the legalistic jargon into plain English. In the first article we covered pensions, covering ISA accounts in the second and...
Money Basics – Investment Bond / Endowment Myths Money basics is a series of short articles where we will explore several themes that confuse and bewilder and try to break down all the legalistic jargon into plain English. So far we’ve...
Money basics is a series of short articles where we will explore several themes that confuse and bewilder and try to break down all the legalistic jargon into plain English. Last week we discussed the best tax wrapper to hold your investments in, this week...
Money basics is a series of short articles where we will explore several themes that confuse and bewilder and try to break down all the legalistic jargon into plain English. Tweet us your article suggestions @ChattertonsLaw – literally anything in the...
You’ve done well, investing and growing your money in your pensions, LISA and ISA accounts and now you are wondering what investments will work best for you to provide a sustainable income in retirement. The current generation of retirees are the...
Click the image to read or download our Economic Review (December 2016)...
Click the image to read or download our newsletter on the 2016 Autumn Statement...
This month the Chattertons Financial Services newsletter covers the stance taken by HM Revenue & Customs on closing tax loopholes, tax assisted cycling and the pension advice allowance. Download and print your own copy of our Financial Services...
Pensions underwent the most far reaching changes in modern times in 2014 which mean that pension savers now have significantly better flexibility and control. The changes have been very positive but it can also seem overwhelming with such a wealth of...
In a press conference today Governor of The Bank of England sought to reassure investors and economists as to the security of the UK banking system. In his initial statement he had this to say: “Major banks hold four times the amount of high quality...
With his fourth Budget in under twelve months getting underway shortly, George Osborne certainly seems to want value for money! I’ll be settling down at 12.30 for “Lunch with George”, but to be honest I’m struggling to...
