Altus Financial

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A self-confessed pensions nerd, my deep technical knowledge of and interest in pensions and retirement planning sets me apart from other advisers and planners in the area.

11 years’ experience in financial services.

Do Dementia Sufferers Have to Pay Care Home Fees?Dementia is a devastating condition that can have a huge impact on both...
16/05/2023

Do Dementia Sufferers Have to Pay Care Home Fees?

Dementia is a devastating condition that can have a huge impact on both the person who has it and their loved ones. One of the biggest concerns for families of dementia sufferers is the cost of care.

In the UK, people with dementia who need residential care are eligible for NHS Continuing Healthcare funding if their needs are assessed as being "substantial and permanent". However, this funding is not always available, and families can be left facing large care home bills.

There are a number of things that families can do to help reduce the cost of care, such as:

➡️Ensuring that the person with dementia has a good financial plan in place
➡️ Looking into alternative care options, such as home care or live-in care
➡️ Applying for financial assistance from the government or charities

If you are concerned about the cost of care for a loved one with dementia, there are a number of resources available to help you. The Alzheimer's Society has a wealth of information on its website, and there are also a number of specialist charities that can offer advice and support.



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Pensions...A pension is the most tax-efficient vehicle available to UK savers, subject to certain limits, because the go...
04/05/2023

Pensions...

A pension is the most tax-efficient vehicle available to UK savers, subject to certain limits, because the government typically adds relief to your contributions. This boost essentially increases the value of every pound you pay into a pension. If you’re a basic-rate taxpayer, for example, an £80 contribution into your pension becomes £100 through tax relief – an immediate 20% gain on your contribution. And for active members of workplace pension schemes, your employer also contributes at least 3% of their qualifying earnings.

You can contribute up to £40,000, or 100% of your earnings, in 2023/23 rising to £60,000 for the 2023/24 tax year, whichever is lower, each year, and access your pension pot from age 55 onwards, with this age set to rise to 57 in 2028. When you are ready to access your money, the first 25% can often be taken as a tax-free lump sum, with the rest taxed at your marginal rate.

You are also able to choose who receives your pension fund after you die, and pensions fall outside of your estate for Inheritance Tax planning.

ISAs...

When you save into an ISA, you don’t receive tax relief on your contributions. But they do have other benefits, namely that there’s no age limit on when you’re allowed to access your money. This makes them more flexible – for example if you do need to cover any unexpected expenses. And, like pensions, the growth you earn isn’t subject to Income or Capital Gains Tax.

This tax year, you can put up to £20,000 into a Cash ISA or Stocks & Shares ISA. Your spouse or partner can also maximise their own ISA allowance. That could mean as much as £40,000 invested tax efficiently.

Get in touch to find out more...

The key difference between ISAs and pensions is how the money going in and money coming out is taxed, as well as how and...
27/04/2023

The key difference between ISAs and pensions is how the money going in and money coming out is taxed, as well as how and when you can take that money out. Pensions end up the most tax-efficient savings option, while ISAs are simple, flexible and can be accessed at any time.

Figuring out the right combination of savings vehicles isn’t always straightforward – you’ll need to think about income in retirement as well as estate planning, for example – so taking financial advice can make a real difference.

Get in touch to find out more

Looking for long-term opportunity amid short-term volatility...In times of market uncertainty, selling shares could mean...
13/04/2023

Looking for long-term opportunity amid short-term volatility...

In times of market uncertainty, selling shares could mean missing out on long-term opportunities. According to Baillie Gifford fund manager Milena Mileva, market volatility presents great opportunities for savvy fund managers to exploit. Instead of selling, investors should take a long-term view and look for attractively priced companies. Despite recent negative headlines, some UK companies are world-leading and present exciting opportunities for investors. Dividends, which have been out of fashion, could become more important to total returns as the markets shift in a post-pandemic world. Ian Lance of Redwheel suggests that the energy sector and digital enterprise IT spend are areas where investors could find emerging opportunities.

Get in touch to find out more

Wishing you and your loved ones a very happy Easter! May your day be filled with blessings, joy, and the warmth of famil...
09/04/2023

Wishing you and your loved ones a very happy Easter! May your day be filled with blessings, joy, and the warmth of family and friends. 🌷🐰🐣

Are you a startup owner and wondering whether to hire employees or contractors for your business?There are pros and cons...
07/04/2023

Are you a startup owner and wondering whether to hire employees or contractors for your business?

There are pros and cons to both, depending on your role and sector. Freelance and contract workers can help plug skills gaps quickly and flexibly, with fewer commitments and liabilities. On the other hand, employees are more loyal and may be more cost-efficient for regular tasks. But there are tax and legal implications for both, so it’s sensible to take advice before hiring anyone and ensure your contracts are up to date. It's essential to consider the work relationship carefully to avoid legal trouble, and employment tribunals will consider the actual working relationship, not the paperwork.

In conclusion, there's no one-size-fits-all solution, and each option comes with its own set of benefits and challenges. Make sure you weigh up all the factors before making a decision.

Fraud cases increased by 151% between 2021 and 20221, and SMEs are often seen as a soft target.Types of fraud SMEs are v...
05/04/2023

Fraud cases increased by 151% between 2021 and 20221, and SMEs are often seen as a soft target.

Types of fraud SMEs are vulnerable to include phishing scams and frauds involving invoices and payroll. Threats can come from email systems and human vulnerability.

Having up-to-date security systems and separate portals for supplier and client communications could be beneficial. But even simple steps, such as calling relevant parties to verify transactions, can make a difference.

When everything suddenly changes – why protection matters We never know what’s just around the corner. The combination o...
24/03/2023

When everything suddenly changes – why protection matters

We never know what’s just around the corner. The combination of inflation and rising taxes is leaving UK households worse off, with disposable incomes predicted to fall by 7%1.

This means that any rainy-day savings will likely be shrinking or even vanishing due to the need to cover living costs. According to Legal & General research, the length of time households could cover basic living expenses if they lost their income has fallen to 19 days2.

What’s more, almost half (43%) of adults worry about losing their income because of illness or injury. That makes the need for protection insurance policies, such as Income Protection, all the more important.

Get in touch today to discuss the best protection options for you.



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Let's work together to create a plan that will set you up for success both personally and professionally!
20/03/2023

Let's work together to create a plan that will set you up for success both personally and professionally!

Ready to take control of your finances? I'm here to help you navigate the complex world of money management and achieve ...
17/03/2023

Ready to take control of your finances?

I'm here to help you navigate the complex world of money management and achieve your financial goals.

Let's get started today!

According to a study by Vanguard, working with a financial advisor can add an average of 3% in net returns to an investm...
13/03/2023

According to a study by Vanguard, working with a financial advisor can add an average of 3% in net returns to an investment portfolio over time.

At a glancePromoting employees and hiring new recruits externally both have benefits and downsides, but many SMEs can st...
21/02/2023

At a glance

Promoting employees and hiring new recruits externally both have benefits and downsides, but many SMEs can struggle to find the balance between the two.

Offering employees opportunities to develop their skills and progress their careers is vital, plus promoting internally can be quicker than hiring externally. However, be careful not to over-promote people beyond their capabilities.

Take the time to review your business plan regularly, looking at your current employees and their skills to highlight any expertise you may need to bring into the business from outside in order to achieve your strategic goals.

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