Higher-rate taxpayers: Beware of the 60% tax trap
Around 1.35 million people were affected by the tapering of the Personal Annual Allowance in 2023/24. It could mean their…
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3 practical ways you could reduce your tax bill in retirement
As the Personal Allowance is frozen, more retirees are finding they’re liable for Income Tax. If you’re retired, there could…
Landlords: Could using a limited company reduce your tax bill?
More landlords are using limited companies to reduce their tax liability. It could be a useful way to boost your…
8.5 million over-65s are paying Income Tax. Do you need to consider your tax liability?
8.5 million over-65s are paying Income Tax – that’s a 10% increase compared to last year. Inflation and frozen tax…
Why it could pay to use your 2023/24 tax year allowances right now
If you’re preparing to take out a mortgage, working with a mortgage broker can be valuable. As well as helping…
The 2022/23 tax year ends on Wednesday the 5th of April
After this date, many allowances will reset, so it could be your last chance to use some of them.
National Insurance threshold change from 6 July 2022
Following the announcement in the spring that the National Insurance (NI) threshold will increase for the 2022/23 tax year, HMRC…
8 key tax allowances have shrunk by 6% in the last decade
Over the last decade, key tax allowances have been reduced. It means you could be paying more tax, so it’s…
Two-thirds of retirees are planning a flexible retirement, but many don’t understand the potential tax implications
More people are planning a flexible retirement where they continue to work in some form. It can help your income…
Why now is the perfect time to start thinking about the end of the tax year
While it might seem some way off, preparing for the end of the tax year now can help you make…
How a life insurance policy could help you preserve an inheritance for loved ones
If your estate could be liable for Inheritance Tax, taking out an appropriate life insurance policy could help your loved…
Dividend Tax rate rise: Could it affect you?
The Chancellor has announced a Dividend Tax hike. Find out if it affects you and what steps you can take…
Why rising house prices could mean you need to reconsider your Inheritance Tax plan
House prices have soared and could mean that you’re nearing the Inheritance Tax threshold. Taking a proactive approach can help…
Should you take a tax-free lump sum from your pension to celebrate retirement in style?
If you’re nearing retirement age, you may be thinking about taking a tax-free lump sum from your pension. While it…
Pension Lifetime Allowance is frozen until 2026: Will it mean your retirement tax bill soars?
The Lifetime Allowance is frozen until 2026. Exceeding the threshold could mean you pay more tax when you start taking…
Relief for savers as “tax day” sees government announce no significant tax reforms
There was great news for savers today as personal finances were largely untouched by reforms announced on “tax day”. Here’s…
What would an alternative to Stamp Duty look like?
The chancellor is facing calls to scrap Stamp Duty. While it’s an unpopular tax, it’s likely some alternative would needed…
Why planning for the 2021/22 tax year now is a fantastic idea
Have you thought about how you’ll make use of allowances and tax breaks in 2021/22? If you haven’t, you’re not…
Capital Gains Tax review: 2 things that could change
The government is currently reviewing Capital Gains Tax. It could mean that the allowances or tax bands change, potentially affecting…
Pembroke Financial Money Wise Winter 2021 newsletter
In another lockdown, it can difficult to find reasons to be optimistic, but if you look a little closer there…
6 tax allowances to use before 5 April 2021 to boost your finances
The current tax year ends on 5 April 2021. Some allowances will reset after this date. Making use of them…
Giving to charity: How it can be tax-efficient too
Giving to charity may be part of your financial plan now or in the future. Donations can provide tax benefits…
Our Guide to Individual Savings Accounts (ISAs) for 2020
ISAs, or Individual Savings Accounts, have been around for over 20 years. Back in 1999, then Chancellor Gordon Brown introduced…
12 things to do during lockdown to improve your financial well-being
These are strange and uncertain times during which the UK Government has advised its citizens to remain at home in…