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We have updated our guide to actions that could be taken to minimise taxes here. Key points include: Income Tax: Strategies are suggested to reduce taxable income, such as making pension contributions and redistributing investments between spouses to effectively use personal allowances. Capital Gains Tax: The guide discusses annual exemptions and the importance of timing
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As you build an investment portfolio, you probably consider your asset allocation and how that relates to your risk tolerance. But don’t confuse asset allocation with asset location, a straightforward process that could minimise taxes. It’s a simple yet powerful strategy you can easily incorporate into your investment planning. What is asset location? Different types of
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Planning for retirement is essential but can be complicated. The key is finding the right strategy to ensure a comfortable retirement. In this post, I will look at two popular strategies for retirement planning: retirement bucketing and the standard portfolio approach. We’ll explore the pros and cons of each approach and see which might be
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“Loss aversion” is a bias that can significantly influence how you manage your money. This concept was developed by the well-known psychologist Daniel Kahneman, who, along with Amos Tversky, identified this phenomenon in 1979. Kahneman’s research has shown that people feel the pain of losses more acutely than the pleasure of equivalent gains. Understanding this
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Have you sold things like shares, rental property or valuable possessions and made a profit? If you sell something for more than you paid, you may need to pay Capital Gains Tax on the profit. The amount of money you can make each year before paying this tax has been reduced a lot recently. This
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Investing in private equity (PE) can seem like an exclusive club for the wealthy and well-connected. Let’s talk about private equity and its relevance to your investment strategy. We will explore the advantages and disadvantages in simple terms to showcase the impact of effective financial planning. What is Private Equity? Private equity involves investing in
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Summer is just around the corner, and with it comes an old saying in the world of finance: “Sell in May and don’t come back ’til St Leger’s Day.” This advice suggests that investors should sell their investments at the start of summer and reinvest in September. But is there any truth behind this adage,
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uThe Labour Party has highlighted stability as the foundation of its economic growth strategy if it were to come into power on July 4. At the party’s manifesto launch, Keir Starmer, the leader of the Labour Party, condemned years of Conservative ‘chaos’ and presented their vision for rejuvenating the economy. Addressing Economic Constraints Labour’s manifesto
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Dealing with the loss of a loved one is already difficult without the added stress of managing inheritance tax (IHT). If you have this challenging task ahead, you don’t have to worry, we’ve broken it down into simple, manageable steps. Whether you’re managing an estate or are receiving an inheritance, understanding the process can help
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We are now over halfway through 2024, so it’s a good time to look back at what’s been happening in the market over the past six months. Many concerns that worried investors at the start of the year, like inflation, interest rates, and the outcomes of key elections, are still not settled. There’s also ongoing
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