10 reasons to make a will

What do Abraham Lincoln, Howard Hughes, Pablo Picasso and Jimi Hendrix all have in common? Apart from being famous, they all died without making a will. However it’s not just the rich and famous that don’t get around to making a will. Recent research indicates that more than 50% of UK adults don’t have a will. I often remind clients to make or update their will to ensure that their estate is left to the people they want it to go to. This is advice which cannot be repeated too often.

Here are ten good reasons to make a valid will:

Why Cash May Not Be King For Businesses

There is considerable evidence of a trend for UK companies to hold larger cash balances than previously.

Over one Million UK Savers Embrace Relaxation of Rules

How the investment landscape has changed

The government’s announcement on the relaxation of pension rules changed the investment landscape, and pension freedoms show no sign of losing their popularity. 

HM Revenue & Customs latest figures [1] on the flexible withdrawals from Pensions shows that the number of Savers who have embraced their freedoms now exceeds one million (1.04 million).

Individual withdrawals

IR35 Reforms or Changes to Off Payroll Working Rules Coming into Play from April 2020

Changes to IR35 Off Payroll Working Rules for the private sector come into force from April 2020.

Nicki Hutchinson joins Armstrong Watson Northallerton as Accounting Senior Manager

Nicki Hutchinson joins Armstrong Watson's Northallerton team as Accounting Senior Manager and will offer accountancy and tax advice to family and owner managed businesses.

Tracing a lost pension - Nearly £20 billion unclaimed money and growing

The Pensions Policy Institute found 800,000 lost pensions worth an estimated £9.7 billion and 1.6 million pensions pots worth £19.4 billion are still unclaimed.

Employees contribute higher pension payments

On 6 April 2019, the minimum level of auto-enrolment contributions increased to 8% of earnings, made up of at least 3% from employers and the balance from employees making workplace pension saving the default option.

7th August Making Tax Digital VAT Deadline is Looming

For many VAT registered businesses the 7^th of August will be the deadline for the first filing of VAT returns under the new Making Tax Digital (MTD) regime.

Building a Diverse Investment Portfolio

Time, patience and making informed decisions

Making sense of today's market headwinds and building a diverse portfolio should be key priorities for all investors. Whether you have a lump sum to invest or want to invest regularly each month, it’s important to know your money is working hard for you.

Growing your wealth is not something that happens automatically. It takes time, patience and making informed decisions. Whatever your long-term wealth priorities are, planning and successful investing of your wealth can help you get there.

Where next for Inheritance Tax?

The Office of Tax Simplification (OTS) has made several announcements around tax legislation which could adversely affect farmers and other rural businesses in the coming years.