The cost-of-living crisis caused many individuals and their families to review and prioritise their outgoings, which may also have led to them thinking whether it is a good idea to remain in a workplace pension. Here, we challenge some of the reasons people might give when choosing to stop their pension contributions.
For context, this is my 20th year working as a financial planner, the last 12 and half of them spent here in the team at Armstrong Watson. In my opinion, the current and planned changes in legislation are the most seismic and impactful of my working life.
David Firth has taken up his new role at the firm’s Leeds office and brings a wealth of knowledge and expertise, having worked in the financial services industry for more than 30 years - 25 of which have been dedicated to providing financial advice.
By understanding and implementing a decumulation strategy, you can help ensure your retirement savings last and provide the income you need throughout your retirement.
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.
Armstrong Watson is among a group of accounting firms across England and Scotland who have raised concerns about the wider impact of Rachel Reeves’ proposals to cap Inheritance Tax (IHT) reliefs for agricultural and business property.
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.
There are two clear headlines for financial planners and our clients from the Autumn Budget - unused pensions are to become subject to Inheritance Tax, while Capital Gains Tax rates have increased and the ISA allowance was ignored.