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Living in Scotland? Do you know who your assets will go to when you die?

Inheritance rules differ between the UK nations. Here we explain what the intestacy rules are in Scotland and how this might affect your beneficiaries.

Can I reduce my family’s Inheritance Tax bill?

Of all the various taxes levied in the UK, Inheritance Tax (IHT) is one of the most peculiar.

For a start, its name is misleading. In other countries that levy inheritance taxes, the tax is usually based on the inheritor (or the beneficiary) and the amount that they inherit.

The Fiscal Statement and Financial Planning

From a financial planning and advice perspective, the major significance of the “mini-budget” is less about what was announced and more about what wasn’t and remains the same. Take-home pay is set to increase for many with the announcement that the additional levy on National Insurance is to be cancelled from 6^th November and the top rate 45% income tax was due to be removed from 6^th April 2023 but was instead scrapped due to political and social pressure. 

How to ensure your assets go to the right people and save potential inheritance tax

The majority of us are guilty of procrastinating. More often than not, when faced with dealing with something we don’t want to do, or we find difficult to talk about.

Can pensions be a tax-efficient way of passing on your wealth?

Pension legislation dramatically changed back in 2015. Gone are the days where your pension savings automatically die with you or your spouse/civil partner.

Building a secure financial future: The importance of early pension savings for younger workers

Many younger people now rely on the bank of Mum and Dad to help get them on the housing ladder. As well as being a useful source of funds, they may also have some important life lessons to impart when it comes to saving towards a more secure financial future.

Has Contributing to a Pension become even more important?

The COVID pandemic has seen unprecedented support for many people and businesses in the UK over the last 2 and a half years. Enforced lockdowns around the world has led to supply chain issues with many goods being delayed for months. The global economy initially saw a sharp downturn and thankfully has then seen a recovery as we all came out of our houses last year.

Protecting your income for an unexpected future

Managing your income for an unexpected future - Hayley Towlson explains the benefits of Income Protection

Pension flexibility – understanding the benefits and the risks

Financial Planning Consultant, Marcus Dodds, looks at the consequences of making early pension withdrawals during these unsettled and challenging times.

Higher and Additional rate taxpayers – is this still a select club?

The number of people paying higher rate is rising sharply. If that’s you, then independent financial advice could be more important and valuable now than ever.