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Armstrong Watson’s top-rated financial planning team continues to grow

Armstrong Watson’s top-rated financial planning team continues to grow with the appointment of another experienced hire.

The Triple Lock State Pension – what does it mean for pensioners?

The ‘triple lock’ was introduced in 2010 and its purpose is to ensure that state pension benefits rise by the highest measure of price inflation (CPI), earnings growth or 2.5%.  

How do I plan for retirement?

The key is to try and get a picture of what your retirement might look like. From the outset, it is important to understand what level of income you will require after tax in today’s terms, or looking at it from another angle, what your outgoings will be

Win-Win for employers & employees

It's well known that emotional and financial wellbeing are connected. Difficult financial situations can lead to feelings of stress, worry, and sleepless nights, and have a negative impact on performance at work.

Is 2023 the time to give your finances a health check?  

As the cost of living crisis continues to put pressure on budgets across the country it is worth looking at ways to get more for your money and review different areas of your personal finances. 

Not only has the cost of all areas of living soared, but Jeremy Hunt’s tax threshold freezes mean more people will end up being dragged into a higher tax bracket.  

Good financial planning, especially in light of the chancellor’s Autumn Statement, could put you in a stronger position during these uncertain times. 

Cash is back! How can you get the most from your savings as interest rates continue to rise?

Interest rates have rapidly increased since the start of the year, with the most notable indicator being the base rate which has increased from 0.10% to 3% since December 2021.

How good financial planning can help offset the impact of the Chancellor’s Fiscal Drag

It is likely that The Chancellor will continue to freeze a number of thresholds and allowances meaning that many people will be dragged in to paying more tax in one way or another. This is called “fiscal drag”.

With inflation rising, should you rethink investment returns?

From January 2000 to the start of 2022, inflation averaged 2.3%. It has now (May 2022) jumped to 9% in the 12 months to April, up from 7% in March the highest for 40 years. That means that if you were born after the early 1980’s, you have not experienced the sort of economic environment we are now experiencing.

Autumn Statement 2022 - Personal Taxes and Fiscal Drag

As expected, the Chancellor did not make changes to the rates of income tax, national insurance, inheritance tax or capital gains tax (CGT), but what he did do is freeze the threshold on each one of these except CGT, meaning the rates everyone is paying today will be the same rates that will apply after April next year.

Autumn Statement 2022 - Head of Tax Initial Reaction

As anticipated due to the economic deficit, Jeremy Hunt today announced measures that will see tax increases amounting to a cost to taxpayers of tens of millions of pounds.