This age represents a significant juncture in pension legislation that affects several aspects of your retirement planning, including how your pension is managed and the tax implications associated with it.
By implementing measures such as key person insurance, shareholder agreements, and relevant life policies, you can secure your law firm’s operations, protect stakeholders, and maintain business stability and growth.
Most political events have the potential to have a significant influence on market performance, investor confidence, and economic stability, whether that be a negligible ripple, short-term volatility or a longer-term decline in value.
The Chancellor Rachel Reeves has said previously that there would only be one major fiscal event in a year so that individuals and businesses would have stability. However, she will stand up in the Commons to make a statement in response to the latest forecasts from the Office of Budget Responsibility (OBR) on March 26 and potentially be in a very different situation to what she expected just a few months ago.
Life insurance could provide alternative proceeds to pay an IHT bill and preserve the farm and farm assets to pass to the next generation. It can also play an important role in the continuation of the business during your lifetime.
Life insurance has hit the headlines since the 2024 Autumn Budget as a possible antidote to the major changes proposed to Agricultural Property Relief, Business Property Relief and Inheritance Tax (IHT) on pensions.
Two of the most commonly held investment vehicles are ISAs and pensions. Both offer favourable tax advantages, with the funds in each benefiting from growth that is exempt from personal income and capital gains taxes. But could selecting one wrapper over the other result in a greater yield?
If you’d like to help causes close to your heart, setting up a charitable trust could be an effective way of managing your estate for the benefit of others. A charitable trust can be set up to make donations during your lifetime and as part of your inheritance when you die.