Richard Hanney Financial Advisor

28/06/2023

The average man is set to receive £19,000 in income per year after they retire, compared to £12,000 for women, the report by Scottish Widows said.

28/06/2023

Retirement crisis !!!

This is an article on how 1 in 3 of us will not have enough money in retirement to live. Its a topic I'm passionate about for a number of reason.

1. You work hard all your life and should enjoy retirement and not worry about money

2. It the most tax efficient way to save for both businesses and personal taxation

3. Very good for the self employed.

4. If you plan early enough you can reach you retirement targets

Get in touch for a chat to discuss your options

[email protected]

www.shp.uk.net/richardhanney

07590333036













https://news.sky.com/story/one-in-three-may-struggle-to-make-ends-meet-in-retirement-report-warns-12910789

The average man is set to receive £19,000 in income per year after they retire, compared to £12,000 for women, the report by Scottish Widows said.

06/06/2023

YOUR PESONAL SAVINGS ALLOWANCE EXPLAINED.

Basic-rate taxpayers - £1,000
Higher-rate taxpayers - £500
Additional-rate taxpayers - £0

Basic rate taxpayers get an allowance of £1000 !!

Basic rate taxpayers
You earn £20,000 a year and get £250 in account interest - you won't pay any tax because it's less than your £1,000 allowance.

You earn £20,000 a year and get £1,500 in account interest - you won't pay tax on your interest up to £1,000. But you'll need to pay basic rate tax (20%) on the £500 above this.

Higher rate taxpayers get an allowance of £500 !!

Higher-rate taxpayers
You earn £60,000 a year and get £250 in account interest - you won't pay any tax because it's less than your £500 allowance.

You earn £60,000 a year and get £1,100 in account interest - you won't pay tax on your interest up to £500. But you'll need to pay higher rate tax (40%) on the £600 above this.

There are ways to save in a more tax efficient way. We are here to help advise you with your savings and investment needs

Give me a call to discuss any of your financial needs

[email protected]
07590 333 036

02/06/2023

https://www.ftadviser.com/your-industry/2023/05/23/rise-of-iht-intake-seems-to-be-unstoppable/

Unbelievable statistics reported by the Financial Times

'Rise of IHT intake ‘seems to be unstoppable’

The latest figures from HM Revenue and Customs, show that the government’s intake of inheritance tax has continued to expand.

The figures released (May 23), show that IHT receipts for April totalled £0.6bn - a year-on-year increase of £0.1bn.

Forecasts by the Office of Budget Responsibility published alongside the Spring Budget in March, predicted that between the tax years 2022 and 2028 the Treasury will collect £45bn in IHT receipts.

This is up from the £42.1bn estimated only last November.

IHT and estate planning can be planned for to try and reduce your IHT Liability

Get in touch for a chat to see if you fall into the IHT bracket.

[email protected]

07590333036

27/06/2022

16/06/2022

A little bit of R & R after a busy week