Give your children a head start with financial education
Posted by Andrew_Smith on Friday 3rd of July 2020
Financial literacy isn’t a skill that we are born with. Learning how to manage money effectively means acquiring a few important life lessons that parents can pass on to their children from a relatively young age. With home schooling on the agenda for many families at the moment, one perfect way to engage your children, a skill vital for everyday life, is financial education.
Money does not grow on trees
Encourage children to handle cash as soon as possible to help them recognise its value and to plan how to save some of their pocket money, ...
Estate Planning
Posted by Andrew_Smith on Tuesday 30th of June 2020
Estate planning encompasses not only preparing your finances to ensure your assets are protected for your loved ones once you are gone, but it’s also about ensuring you have enough money to live on.
It starts with obtaining a comprehensive view of your assets. Assessing the value of your estate and ensuring the right documentation is in place is a first port of call (such as Wills, Lasting Powers of Attorney (LPA), and the formation of any relevant Trusts).
Valuing your estate
In order to establish the value of your estate, first calculat...
2020/21 tax year know your numbers
Posted by Andrew_Smith on Friday 26th of June 2020
Whilst we would all probably agree that paying tax goes towards providing the important services we all rely on, no one needs to end up paying more than their fair share. Each year, the government announces the tax allowances and exemptions that we are entitled to and it makes sense to maximise their use in meeting our individual financial goals.
Here are a few figures worth knowing:
Personal taxation
At the Budget, the Chancellor’s main change to personal taxation was an increase in the National Insurance threshold to £9,500, which will ...
How secure is your business?
Posted by Andrew_Smith on Monday 15th of June 2020
Business protection is a crucial element in a company's financial future, but how many have cover in place?
You may have covered the tangible assets in your business, but have you protected the most important asset; the people who contribute directly to your bottom line?
If the answer is no, you could be putting your business at risk. After all, if you lost a key employee, this could impact the day-to-day running of the business, it could hit profits and create problems repaying an outstanding business loan.
Research by Legal & General in...