Lemont Financial Planning

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Lemont Financial Planning

Lemont Financial Planning is an Appointed Representative of and represents only St. I've even had the privilege of leading a fantastic team of 35 advisors.

James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority). I started my journey in financial services when I was only 19 years old, and honestly, I've never looked back! Over the years, I've been lucky enough to explore different areas like consultancy, compliance, training, systems, and processing. Now, I'm proud to run my very own practice, Lemont

Financial Planning, as a financial advisor. You might wonder why I've stuck with finance all these years. Well, it's pretty simple, I genuinely love helping people make the most out of their money. There's nothing more rewarding than seeing my clients’ faces light up when they discover better ways to handle their finances! After spending years in the corporate world, I decided to create a more relaxed, friendly, and comfortable environment for my clients. I firmly believe that dealing with money doesn't need to be stressful or intimidating. And that's exactly the kind of approachable, easy-going service I aim to deliver!

15/05/2025

📈 UK Economy Grows Faster Than Expected

The Office for National Statistics (ONS) has just announced that the UK economy grew by 0.7% between January and March, which was more than expected compared to the 0.6% growth economists had forecast.

This boost is largely thanks to strong performance in the services sector, even though we saw declines in areas like education, telecoms, and legal services.

It’s also a big step up from the 0.1% growth recorded in the final quarter of last year.
Looking ahead, economists are expecting growth to slow for the rest of 2025.

Ongoing uncertainty around Trump’s tariffs and last year’s budget changes are likely to cause some drag.

As of 2:39 pm today, the FTSE 100 is up 0.26% on the news and has now returned to levels last seen on April 2nd, just before the markets were shaken by tariff talk.

Across the pond, the Dow Jones is also catching up and is now just 50 points shy of its early April standing.

12/05/2025

📉 Interest Rates Drop & Trade Talks Boost Markets 📈

Last Thursday the Bank of England cut interest rates from 4.5% to 4.25%, thanks to a steady reduction in inflation. BoE Governor Andrew Bailey said he still expects a gradual and careful path downwards from here. This is already starting to filter through, with lenders beginning to reduce variable mortgage rates,which means some borrowers on discounted mortgages may see their repayments reduce in the coming months.

🌍 On the global stage, also last week, the UK and US have agreed a new trade deal:

✅ No more US tariffs on British steel
✅ UK exports to the US see tariffs drop from 25% to 10%
✅ Better terms for agricultural exports both ways

Today it has also been announced that the US and China have agreed a 90-day pause on their ongoing tariff battle. For the next three months:

🔻 Tariffs on Chinese goods heading to the US drop from 145% to 30%
🔻 US exports to China fall from 125% to just 10%

As of 14:45 today, the Dow Jones was up 2.5% on the back of the latest Tariff update.

02/05/2025

📉 Markets Dropped... But Should You Have Panicked? 📈

Since 2nd April, when the US slapped a minimum 10% tariff on 57 trade partners (effective from 5th April), markets have been on a rollercoaster 🎢

Between 2nd and 7th April, both the Dow Jones and the FTSE fell by around 11%, a sharp reaction to global trade tensions. But just two days later, on 9th April, President Trump hit pause on most tariffs, excluding the baseline 10% and those on China. He's even hinted at easing tariffs on electrical goods.

The UK chose not to retaliate, which looks like a wise move as trade talks with the US are underway.

So what did investors do?
Many moved towards gold and government bonds in search of safety.
But here’s the key bit: if you had a medium-risk managed portfolio (40–85% equities) and stayed calm, you'd be down only around 2% as of 28th April*.

That’s impressive given the headlines.

Looking ahead, there’s cautious optimism. A big week of US company earnings could shape the next market move.
Sometimes the best strategy is doing nothing, as long as your plan is solid!

*Data from Trustnet.com as at 28/04/25

11/04/2025

Higher or additional rate taxpayer? Already submitted your 2024/25 Self Assessment?

If you’ve made personal pension contributions (outside of Final Salary, CARE schemes, or Salary Exchange), don’t forget to claim your extra pension tax relief, it’s not automatic!

You can go back and reclaim for up to 4 previous tax years, but here’s the catch:
⛔ You can’t do it via your Self Assessment return!
⏰ Once that 4-year window closes for a tax year, the opportunity is gone for good!

This is money that’s rightfully yours and many miss out simply because they didn’t know.

Claiming these four years of Tax Relief is very easy!

10/04/2025

📈 Over the past week, markets have experienced some turbulence due to US tariff plans announced by Donald Trump, likely affecting our savings and pensions. 😬

However, history shows emotional reactions can lead to poor investment decisions. Staying calm and focused on your long-term strategy often proves to be your best move!

This was highlighted yesterday, as President Trump's administration announced a freeze on all US tariffs above the basic 10% for 90 days, except for tariffs on China, Mexico, and Canada.

Markets reacted positively! 🚀 The Dow Jones closed up 7.87%, and as of this morning, the FTSE 100 is up 3.9%, with global markets also showing strong gains.

Moments like these remind us that patience and perspective are key. How are you feeling about your investments? Drop your thoughts below!

05/04/2025

As we approach the end of the 2024/25 tax year, it's already time to start thinking ahead to 2025/26!

If your income might push you over the threshold for the Government free childcare support, now is the time to plan!

With the right strategies, you could reduce your adjusted income and still qualify, but waiting until the last few days of the tax year can leave you with limited options.

This Government support can make a big difference for families, and it's often lost simply due to a lack of planning.

Smart tax planning can also help some regain their Personal Allowance — another valuable benefit that can quietly slip away without the right advice.

So don’t wait until the deadline is looming. Start planning early and make the most of what’s available to you!

03/04/2025

Got extra cash sitting in your Limited Company?

You're not alone! Many directors aren’t sure how to take money out of their company without paying tax.

✅ Under the right circumstances, you can:
- Withdraw funds tax-free
- Even have it count as a business expense
- Avoid both personal and corporation tax

This isn't a loophole, it's smart planning that can make a real difference!

29/03/2025

Are you a Higher or Upper Rate taxpayer paying into a pension?

You could be entitled to extra pension tax relief, but many people miss out.

✅ If you contribute to a pension scheme, you can:
- Reclaim your tax relief through Self Assessment
- Claim for the previous tax year
- And if you’ve never claimed before, you can go back up to four tax years

⚠️ This doesn’t apply to those paying into Final Salary or CARE pension schemes.
Don’t leave money with HMRC, it could make a real difference to your future.

26/03/2025

Rachel Reeves – Spring Statement Highlights

The Chancellor has delivered her Spring Statement. Ahead of the announcement, annual inflation has fallen from 3.0% to 2.8%.

Key Points at a Glance:
💰 Tax & Benefits
- No further tax rises confirmed.
- Basic rate of Universal Credit to rise from £92/week to £102/week by 2029/30.
- £3.4B in savings expected from benefit reforms (incl. PIP changes).

📉 Economy
- OBR downgrades GDP growth forecast for 2025 from 2% to 1%.
- Inflation is projected to fall to 2.1% by 2026.

🛡️ Defence
- Defence spending to rise to 2.5% of GDP by 2027, funded by cuts to overseas aid.
- Boosts to UK defence industry, incl. upgrades to Portsmouth Naval Base and military
housing.
- Aim: Make the UK a “defence industry superpower.”

📊 Other Announcements
- £7.5B recovered from tax evasion; another £1B allocated to fight it.
- Civil service workforce to be reduced by 100,000
- Disposable income set to rise this year, average household to be £500 better off.

29/09/2024

Thinking About Retirement? Start Here.

When it comes to planning for your future, one of the first steps I always look at for my clients is checking your State Pension forecast.

It helps you understand:
✔️ How much guaranteed income will the state provide you
✔️ When that income will start

With that knowledge, we can then work together to build a clear retirement plan, looking at what additional income or savings you might need and how to reach those goals.

Check your State Pension forecast here: https://www.gov.uk/check-state-pension

It’s a small step that can make a big difference in your long-term planning.

27/11/2023

Are you worried about retirement?

22/11/2023

Today, the Chancellor has delivered his Autumn statement. Below is an overview of the key points.
State Pension - The State Pension will increase by 8.5% in April 2024
Benefits
• Some benefits including universal Credit and disability benefits will increase by 6.7% per annum from April
• New measures will be put in place to urge people with certain disabilities to work from home
• Other measures will be in place to censure benefits if people do not look to fInd work or are not in work within certain time periods.
National Insurance
• For the self-employed Class 2 NI has been abolished
• Also for the self employed Class 4 NI has been reduced by 1%
• For employees, NI has been reduced from 12% to 10% from 6th January 2024 (between £12571 and £50271)
Duties
• Cigarette duty will increase
• Hand rolled to***co will increase
• No increase to alcohol
• No increase to petrol
Miscellaneous
• National Living wage will increase by £1.02 to £11.44 from April 2024. It will now apply from age 21
• For hospitality, the 75% Business Rates Discount is extended for another year
• Extensions to incentives for Businesses to invest in the UK

THIS IS A POST OF THE FACTS AS GIVEN TODAY BY JEREMY HUNT, CHANCELLOR OF THE EXCHEQUER, AND ARE NOT A POLITICAL OPINION

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Sheffield

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http://www.lemontfp.co.uk/

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