News
Improving Cash Flow for Small Business Owners
Posted in Corporation Tax, Financial Planning (+7 more), on 10.05.24 Read Maintaining steady cash flow is imperative for any business, but especially small companies with limited financial cushions.When cash gets tight, it impacts your ability to cover payroll, pay vendors on time, and fulfill other obligations. By regularly monitoring cash flow and taking steps to control it, UK small business owners can improve financial stability.
Know Your Cash Flow Position
You can’t manage...
Steps to Take When Managing An Estate
Posted in Financial Planning, Financial Advice (+3 more), on 03.05.24 Read Receiving an inheritance can be a life-changing event that provides you with new opportunities. But it also requires some careful planning and decision making to ensure that this wealth is handled wisely.Follow these best practices when acting as an executor and beneficiary of a will in the UK.
Pay Any Inheritance Tax Due
If the estate exceeds the current inheritance tax (IHT) threshold of £325,000, any...
Inheritance Tax Rules You Should Know
Posted in Financial Planning, Financial Advice (+6 more), on 26.04.24 Read Inheritance tax (IHT) in the UK is a 40% tax on the value of the estate exceeding £325,000 when passed on after death.Understanding how IHT works and planning accordingly allows your family to maximise the wealth passed tax-efficiently to your heirs. This guide covers the most important IHT rules and exemptions to factor into your estate planning.
IHT Taxable Estate DefinitionIHT applies to your total taxable...
Financial Steps When Going Through Divorce
Posted in Financial Planning, Financial Advice (+5 more), on 19.04.24 Read Divorce can be a very difficult time. This makes it all the more challenging to agree a mutually agreeable financial arrangement. We cover the essential financial actions to take when going through a divorce in the UK.1. Review Personal Finances Thoroughly
Before making any division of assets or financial agreements, comprehensively catalogue all existing assets and liabilities:
Tally all savings in...Financial Planning for Singles vs Couples
Posted in Financial Planning, Fiducia News (+9 more), on 12.04.24 Read Financial planning looks quite different whether you are managing money as a single person or as a couple. From income and living costs to insurance needs, investments, and retirement.Relationship status impacts many aspects when crafting an effective financial strategy. In this article, we’ll break down the key differences and considerations for singles and couples for major planning areas in the...
The Pros and Cons of Annuities
Posted in Financial Planning, Fiducia News (+6 more), on 05.04.24 Read Annuities allow retirees to receive a guaranteed income for life in exchange for a lump sum payment from your pension fund. Understanding both the potential benefits and limitations of annuities can help UK retirees decide if making them part of their retirement strategy makes sense.What is an Annuity?
An annuity is a financial product issued by an insurance company that provides fixed payments to a...
Saving for Retirement vs Paying Off Mortgage Debt
Posted in Fiducia News on 27.03.24 Read Common scenarios are a promotion leading to greater surplus income, inheritance, or a noticeable reduction in costs, such as paying off unsecured debt. Whether that newly found surplus income should be allocated to building your retirement fund or eliminating your mortgage sooner is a common financial dilemma.
There are pros and cons to each choice depending on your situation. Here is an in-depth look at...
How Inflation Impacts Your Savings & Investments
Posted in Financial Planning, Financial Advice (+3 more), on 26.03.24 Read High inflation has become a growing concern for both consumers and investors in the UK. It has been a prominent subject in the media and has been noticeable at the supermarkets and petrol pumps.Rising prices erode the purchasing power of money left in savings accounts and impact investment too. So, an understanding of the impact of inflation is key when we are considering wealth creation.
What is Inflation and...Optimal Asset Allocation in your 50’s
Posted in Financial Planning, Residential Nil Rate Band (+13 more), on 07.02.24 Read Reaching your fifties can represent a shift in outlook towards investments. The aggressive growth strategies of younger years are influenced by a desire for preservation of that hard earned wealth.At this age, there is still a reasonable amount of time before retirement. However, removing too much risk too soon can inhibit returns for what should often be seen as a lifetime investment strategy.
In this article,...
Evaluating Early Retirement: Pros and Cons
Posted in Financial Planning, Financial Advice (+4 more), on 26.01.24 Read The dream of retiring early to pursue your passions and freedom is appealing to many. But it requires both financial and lifestyle planning to evaluate your ability to support your lifestyle for what could be half a century or more.There are many pros and cons to early “retirement”, which is increasingly being referred to as your “second life”:
Pro: More Time for Leisure & TravelRetiring...
A Pillar of Excellence: Fiducia’s Chartered Status Renewed
Posted in Fiducia News, Awards (+2 more), on 11.01.24 Read At Fiducia Wealth Management, we are honored to announce the renewal of our prestigious Chartered Financial Planner status by the esteemed Chartered Insurance Institute (CII) in late 2023.Earning the respected Chartered designation signifies our steadfast commitment to the highest pinnacle of ethics, education, and client service within the financial planning profession. Rigorously obtained qualifications,...
Developments in Dedham – December 2023
Posted in Fiducia News, Charity on 08.12.23 Read As another eventful year comes to a close, we at Fiducia Wealth Management want to wish all our clients and professional connections warm tidings this festive season.It’s been a difficult year for many, aided by rising inflation and subsequently, interest rate rises from BofE. At Fiducia, like our peers, we are not immune to these increases. However, our growth journey has continued throughout 2023 and we are...
Bite sized bits – Inheritance Tax (IHT)
Posted in Financial Planning, Financial Advice (+3 more), on 15.08.23 Read IHT stands for Inheritance Tax and is a tax that is levied on the estate of deceased individuals in the UK. The tax is based on the value of the assets that are left behind by the deceased, including property, savings, investments and possessions.The current threshold for Inheritance Tax is £325,000, which means that if the value of the estate is below this amount, then no tax is payable. However, if the value...
Developments in Dedham – August 2023
Posted in Fiducia News, Awards (+1 more), on 03.08.23 Read We hope this message finds you well. It’s been some time since our last update, so we wanted to provide an overview of the key developments and activities happening at Fiducia.In alignment with our mission to be a disruptive, growth-oriented company making a difference for clients and our local community, we have made great progress on multiple fronts.
We are pleased to welcome three new team members – (from...
Is An Interest Rate Rise Good For You?
Posted in Financial Planning, Fiducia News on 03.08.23 Read The Bank of England raised interest rates to 5.25% on Thursday 3rd August 2023, that’s now the 14th consecutive month that rates have risen. Ahead of the monetary policy decision, Fiducia Co-Owner and Chartered Financial Planner Susie Laws was asked to make several appearances on the BBC.First up was an appearance on BBC 5Live’s radio program with Nicky Campbell. The debate throughout the show heard the audience...
5 reasons to have a Financial Adviser
Posted in Financial Planning, Final Salary Pensions (+8 more), on 31.07.23 Read In today’s uncertain and volatile economy, succumbing to financial stress has become all too common. In such a scenario, having a financial adviser in the UK is becoming increasingly essential. Financial advisers are professionals who can provide you with practical advice and guidance on all aspects of finance, including investments, savings, mortgages, and retirement planning.
Below we highlight 5 reasons...
Bite sized bits – Retirement Needs
Posted in Financial Planning, Financial Advice (+2 more), on 24.07.23 Read Retirement is a crucial stage in life that requires careful planning and preparation. It’s a time when you are no longer working, and your income may decrease, but your expenses may increase. Therefore, it’s essential to plan for your retirement needs in advance to ensure you have enough money to support your lifestyle.1. Living Expenses
Living expenses are the most significant retirement need that you need...
Understanding Business Relief
Posted in Financial Planning, Tax Planning (+2 more), on 17.07.23 Read Business Relief (BR), formerly known as Business Property Relief (BPR) is a tax relief in the UK that can help to reduce the Inheritance Tax (IHT) liability on a business owner’s estate when they die. BR was introduced to encourage entrepreneurship and to ensure that family businesses and other businesses can continue to operate after the death of the owner.BR is available at two rates: 100% relief and 50%...
How to reduce your income tax bill
Posted in Financial Planning, Annual Allowance (+5 more), on 10.07.23 Read Income tax is a necessary component of living and working in the UK, but it can also be a significant expense. There are, however, ways to reduce your income tax bill and keep more of your hard-earned money.Here are some strategies to consider:
1. Make use of tax-free allowances: There are a number of tax-free allowances available in the UK that can help reduce your income tax bill. These include the personal...
Using Pensions & ISAs to provide liquidity in times of property market stress
Posted in Financial Planning, Financial Advice (+4 more), on 23.06.23 Read The property market can be unpredictable at the best of times, and during times of stress, it can be difficult to liquidate property assets quickly. However, pensions and ISAs (Individual Savings Account) can provide liquidity and different tax benefits during these times, alongside any property investments, making them a valuable tool for investors to consider.During the property market selloff of 2007/08 ,...
Q&A with Economist and Fiducia Consultant Michael Hughes
Posted in Investing, Fund Manager Q&A (+4 more), on 09.05.23 Read During a busy period despite the 2022/23 Tax Year ending, our team managed to catch up with leading Economist and consultant to the Fiducia Investment Committee, Michael Hughes in a live Q&A.Michael shared his thoughts on current economic events, financial market performance and areas of interest when seeking future investment success.
You can watch the Q&A by clicking the button below.
***UPDATED*** After the UK Budget, should I pay into my pension again?
Posted in Financial Planning, Financial Advice (+6 more), on 22.03.23 Read “Following the budget, should I pay into a pension again? And what about if I have existing transitional LTA protection”These are questions that I have been asked a few times since Wednesday!
In short, there is no simple answer and it will depend on a number of different things, such as; your circumstances; what your longer term goals are with regards to your pension funds; affordability and so on.
For...
Do you need a Trust to protect your wealth?
Posted in Financial Planning, Bare Trusts (+7 more), on 22.03.23 Read Determining whether you need a trust requires careful consideration of your personal and financial circumstances. In this article we explain what Trusts are, what trusts are available and how you can go about setting one up…should you feel it is the right route to go down to protect your wealth.Under no circumstances are we suggesting you use the information within this article as advice to set up a Trust to...
Silicon Valley Bank Failure
Posted in Fiducia News on 13.03.23 ReadOn Wednesday 8th March, Silicon Valley Bank (SVB) informed the markets of its $2 billion shortfall of capital. Within 48hrs, US regulators had closed the bank due to a run by depositors to withdraw funds.
Our Economist, Michael Hughes, has provided the following comment:
This is another example of the distortions caused by zero interest rate policies for many years. That policy encouraged investing in risky...
Austyn Johnson – Helping your children to buy property? No cash? No problem!
Posted in Financial Planning, Financial Advice (+1 more), on 06.03.23 Read When it comes to helping your children hop up onto the property ladder, it’s always been the same, ‘give them some money’. But what does that really mean? Well, put frankly, it means you give them money you know you’ll never see again!In a period where the cost of living crisis is taking hold for many and cash isn’t as readily available as it once was, what if there was a way to help your children onto...
Be More Tax Aware
Posted in Corporation Tax, Financial Planning (+15 more), on 02.03.23 Read It’s not exactly a huge secret…but the end of the 2022/23 tax year is fast approaching. What can you do to ensure you are making best use of the allowances afforded to you by HMRC in the UK?According to Gov.uk, HMRC collected £715.5 billion in taxes in 2021 to 2022, an increase of 22.5% from the year before. There’s no denying that’s a huge sum of money. Whilst taxes must be paid, there are ways...
Developments in Dedham – December 2022
Posted in Fiducia News, Awards (+1 more), on 09.12.22 Read With Christmas only a couple of weeks away, it’s sad to say this will be our last Developments in Dedham blog for 2022. But fear not, we’ll be back in early 2023 to share all the latest news from our offices with you, our followers, our clients and our friends in business.Time flies when you’re having fun and despite some village confusion with a tree falling down and damaging the church wall, we have been...