When long-term relationships split up, there are a host of implications for mortgages, savings, tax and Wills requiring careful consideration to avoid hardship. If you are contemplating divorce, are in the middle of divorce proceedings or dissolving a civil registered partnership, it’s important to understand how the current economic and financial situation could affect you.
Self-employment plays a vital role towards the UK’s economy. In recent years the number of people who are self-employed has risen steadily. But one of the main drawbacks is that the self-employed do not have the advantage of an employer to help arrange pension provision.
The Government has spent hundreds of billions on measures to support businesses and jobs, and fight the coronavirus (COVID-19) pandemic. But how will it pay for these? We won’t know the extent of the final bill until long after the crisis is over.
One paradox of the coronavirus (COVID-19) pandemic is that even as businesses have shut down and jobs have disappeared, some British households have on average been saving more money than they usually do, due to lower spending, according to new research[1].
Do you feel like your financial life has been turned upside down during the coronavirus (COVID-19) pandemic? Or, has the start of the new year focused you on getting your finances in order to make more of your money? Whatever the answer is, it’s important to adopt healthy financial habits.
There are many ways that you can save or invest. Individual Savings Accounts (ISAs) are an incredibly effective means of shielding your money from both Capital Gains Tax and Income Tax.
The UK has seen a rise in the number of people accessing their pension pots or enquiring about doing so. People accessing their pension as a flexible income has increased by 56%[1] according to research since the first lockdown last year. The increase is due to people withdrawing after holding off when stock markets were volatile.
At the start of every year we have great intentions, as financial promises are renewed. Getting our financial life in order will be a top priority for many as we enter 2021. Consider focusing on two key areas: goals related to being prepared for the unexpected this year, and those related to what you want to be different at the end of the year.
It is almost inevitable that taxes will have to rise to help meet the potential £391 billion bill the government has racked up in supporting the British economy through the coronavirus (COVID-19) pandemic.
Even as we hope to put the coronavirus (COVID-19) pandemic in the rearview mirror in 2021, uncertainty regarding both the virus and Brexit is likely to continue to weigh further on the UK and global economies as well as on our personal finances during this year.
