Chartered Independent Financial Adviser, Richard Higgs, takes you through the tax outlook for 2024 in the UK.
We first see a recap of the economic landscape of 2023 including the impact of the Autumn Statement.
Richard discusses the potential implications of the Spring Budget on 6th March and General Election which is also due this year.
If you have an interest in inheritance tax, tax allowances and potential tax cuts, this video is for you.
Read MoreSOLLA Accredited Independent Financial Adviser, Richard Higgs takes you through an introduction to NHS Continuing Health Care (CHC).
He covers:
What is CHC?
Why is it important?
Who qualifies for CHC?
Once obtained, how long will I receive CHC for?
Can I top up the amount awarded?
Can NHS CHC only be provided in a nursing home?
Can I receive CHC if I have dementia?
We are thrilled to have been shortlisted in three categories in the upcoming Professional Adviser Awards!
As well as being shortlisted for ‘Adviser Firm of the Year for South West and Wales’, we are also in two national categories, ‘Best Adviser Firm for Vulnerable Client Care’ and ‘Best Consumer Duty Initiative.’
Read MoreUnderstanding what a Lasting Power of Attorney (LPA) is and how it functions can be a bit confusing for many people. Simply put, an LPA is a legal document that allows you (the donor) to handpick and appoint one or more individuals (attorneys) to make decisions on your behalf in the event that you lose mental capacity at some point down the line.
There are many reasons people put off making an LPA but the reality is it is vital to get organised - it’s never too early.
Read MoreA Power of Attorney (POA) is a legal document that grants someone the authority to make decisions on behalf of another person. This legal arrangement becomes crucial in various situations, particularly when an individual is unable to make decisions for themselves due to illness, disability, or other incapacitating circumstances.
Understanding when a Power of Attorney comes into effect is essential for both the donor (the person giving the authority) and the attorney (the person receiving the authority).
Read MoreIf you have been asked to act as an attorney for an individual’s Lasting Power of Attorney (LPA), you should know that it is a position that carries significant weight and responsibility. LPAs are legal documents that grant an individual the authority to make decisions on behalf of another person who may be unable to do so themselves due to incapacity or other circumstances.
Read on to gain an understanding of the scope of the role of the attorney and your obligations.
Read MoreIf you find yourself in the position of being asked to be an attorney for someone under their power of attorney – whether it's for handling finances or decisions about health and welfare – congratulations, you've been entrusted with a significant responsibility. This trust also extends if you're appointed by the Court of Protection as a deputy in the absence of a power of attorney.
Navigating decisions such as whether a person should be cared for at home or in a nursing home, which medication they should receive, or whether their house should be sold can be quite challenging.
Read MoreAlmost 30,000 Lasting Powers of Attorney (LPA) applications were rejected by the Office of the Public Guardian (OPG) between 2022-2023. 60% of which were applications for Financial and Property LPAs.
Here are 5 reasons an LPA might not be successfully registered by the OPG.
Read MoreResearch conducted by retirement specialist Just Group revealed a worryingly high proportion of older retirees have not yet organised a Power of Attorney (POA), a crucial document that protects their interests in the event of illness or loss of mental capacity.
Almost 60% of retirees aged 75 and above, totalling around 3.4 million people, indicated that they had not taken steps to establish a Power of Attorney. Of those, 35% cited a belief that they were not at the appropriate life stage as the primary reason for not having one.
Read MoreCharitable giving has a long history in the UK, with people choosing to support the causes that matter to them in many different ways. Every donation can have an impact, but it’s gifts in Wills that now form the largest source of voluntary income for charities.
Still, there’s often a lack of awareness around this form of charitable giving, with uncertainty around how it works, how much to give and how to fit donations around gifts for family and friends. That’s why we’ve signed up to Remember A Charity’s campaign charter, working together as part of this national network to help everyone understand the options open to them when writing their Will.
Read MoreYou may have seen the term ‘Consumer Duty’ mentioned in recent financial articles, in particular highlighting the dubious practices and charging structures of some firms.
Consumer Duty refers to an important new set of rules that have been put in place by the Financial Conduct Authority (FCA), designed to enhance transparency and accountability within the financial services industry and ensure that firms act in the best interests of their clients. It’s all about being able to have trust in the industry, which is extremely important when it comes to your hard-earned nest egg!
Read MoreThe Autumn Statement was made in the House of Commons by Jeremy Hunt today. A summary of the economic state of the country by Hunt indicated that the economy has grown... ‘But the work is not done.’
The Statement seemingly focused on putting more money in the public’s back pocket with announcements about abolishing ‘Class 2’ National Insurance, reducing the National Insurance rate, benefits increasing and a freeze on alcohol tax among the 110 measures.
Read MoreLegacy Giving has become a significant part of estate planning for many. Leaving a lasting impact that aligns with your values and aspirations is something many people find appealing. This infographic provides an insight in to the impact of legacy giving for charities.
Please don’t hesitate to get in touch if you would like a relaxed chat about incorporating legacy giving in to your estate planning, we are happy to advise and explore options with you.
Read MoreAs part of Lisa Dicker’s role as Community Development Manager at Bristol Dementia Action Alliance, she has been working with community leads in Shirehampton on a pilot project to make it the first ‘Dementia Aware Village in Bristol.’
‘We have had a great response to the project and 23 of the high street retailers pledged to become dementia aware. Part of this involved an advisory audit of the premises to see what small adjustments could be made to make it more welcoming and accessible for people living with dementia and other conditions.’
Read MoreWe are delighted to announce Harold Stephens has been awarded the ‘Company of the Year – up to 5 advisers’ in the Just Group Vulnerable Customer Award for 2023 after also winning it in 2022. Amy Wood, responsible for Community Engagement, has won the ‘Vulnerable Customer Champion’ award this year.
These national awards, voted for by peers in the industry, recognise outstanding progress within individual firms in helping people in vulnerable circumstances. For a firm with a small but passionate team, this is a huge achievement.
Read MoreOn Monday 30th October, we gathered in the Hall at St Peter’s Church, Henleaze to enjoy an afternoon of talent!
We were lucky to hear poetry read by Pearl, enjoy the excellent songs from the Greenway Community Singers, sing along with Disney soundtracks and finish off with some brilliant folk from Geoff Woodward's Ramblin’ Thyme trio. We also heard track from singer/songwriter Patrick Small who offered to perform on the day!
Read MoreThere are plenty of good reasons to think about leaving a gift to charity in your plans. Not only does it support a great cause, but it can also help ease the burden of inheritance tax.
Without some thoughtful planning, you might end up giving away more of your estate than you'd like.
Find out more here.
Read MoreOn Wednesday 13th September, 28 people gathered to take part in our annual Charity Lawn Bowls Afternoon to raise money for St Peter’s Hospice.
We were thrilled to raise £257 for St Peter’s Hospice on the day and would like to thank everyone for their generosity!
The money is going to a fantastic cause and will enable the Hospice to continue their vital work both at the Hospice and within the community.
Read MoreInheritance Tax can impact the assets passed on to loved ones, currently taxed at 40% above certain thresholds. However, strategies like legacy giving can reduce inheritance tax. Legacy giving involves allocating a portion of assets to a charitable cause in your Will, reducing IHT from 40% to 36% when donating at least 10% of your estate to charity. Find out more about your allowances and how legacy giving could become part of your estate plan.
Read MoreThe annual Later Life Summer Fair took place on Friday 14th July at Newman Hall in Henleaze. Despite the torrential rain, the event was a great success, with a wide range of stalls, entertainment and activities enjoyed by all!
Read More![[Video] UK Tax Outlook 2024](https://images.squarespace-cdn.com/content/v1/5a28dc56b1ffb68fa0a35a19/1706022994324-SMPHQQ5TRL6MMDS1N41U/UK+Tax+Outlook+blog.jpg)
![[Video] NHS Continuing Health Care Introduction](https://images.squarespace-cdn.com/content/v1/5a28dc56b1ffb68fa0a35a19/1706022608083-89K54F8SDNK6R3997NBC/NHS+continuing+healthcare+blog.jpg)
![Legacy Giving in 2022/2023 [Infographic]](https://images.squarespace-cdn.com/content/v1/5a28dc56b1ffb68fa0a35a19/1700558886269-HK246Y97W4UR329ACLXV/Hands+infographic.png)
