IHT Left Unchanged by 2023 Autumn Statement

In the world of personal finance, few topics stir as much interest and debate as inheritance tax (IHT). Given its significant impact on estate planning and wealth transfer, the Autumn Statement 2023 was eagerly anticipated, with many expecting major reforms to IHT. However, the Chancellor of the Exchequer’s decision to leave IHT untouched has been […]

Wingate Distinguished in FTAdviser’s Top 100 Financial Advisory Firms of 2023

A benchmark of quality and client service We are pleased to announce that Wingate has secured a position in FTAdviser’s “Top 100 Financial Advisers” of 2023. This recognition serves as a testament to our ongoing commitment to delivering high-quality financial advice. The criteria: a reflection of the pinnacle of industry success FTAdviser, in conjunction with […]

Add a little more to your retirement pot

Most people will be aware of the tax incentives around paying into a pension such as income tax relief on contributions, tax free growth on the fund and a tax-free lump sum and replacement income in retirement. Many pension providers will bring a shutter down on pension contributions post age 75 as tax relief is […]

Where to allocate capital over the long term? Cash or the financial markets

Following the financial markets volatility of 2022, many people have wanted to seek out safer returns and, with numerous hikes in the base rate of interest, this is understandable. However, is this really in someone’s best interest? There is, of course, no “one size fits all” answer but some considerations to keep in mind are: […]

Question: Why save into a pension? Answer: Money for nothing

The recent changes to both the Annual Allowance and the Lifetime Allowance means that pension saving should be attractive for just about everyone and when saving for retirement, a pension will in most cases provide better net returns than an ISA, purely based on the tax mechanics.  In no cases will it provide a worse […]

Can I Rely on Advice and Information I’ve Obtained from HMRC?

Her Majesty’s Revenue and Customs (HMRC) recently updated its position statement regarding the reliability of the guidance it offers to taxpayers. This pivotal update highlights the circumstances when taxpayers can depend on publicly available guidance from HMRC, whether obtained directly or via the HMRC website. The updated guidance introduces an element of accountability for HMRC […]

Financial Planning Wisdom from David Copperfield: Wilkins Micawber’s Timeless Advice for a Happier, Debt-Free Life

In the Charles Dickens’s novel David Copperfield, Wilkins Micawber drops a gem about financial planning that has stood the test of time. “Annual income twenty pounds, annual expenditure nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty-pound ought and six, result misery.” In the quote, Micawber is essentially saying that it’s better […]

Summer is coming… things to do for free, now the sun is out!

The increases in the cost of living over the last 18 months (inflation) is making it difficult for many people to afford to do the things they enjoy. This could include holidays, eating out, cinema, the gym, etc. This is particularly true if you have a family where you may be adding up the costs […]

2023 could be the opportunity year for self-employed pension savers

The way self-employed profits are calculated for tax is changing. As part of HMRC’s tax administration strategy “Making Tax Digital”, the current 12-month accounting year is switching to tax years from April 2024. If your profits are calculated on a different basis (i.e. if your business year-end is not between 31st March and 5th April), […]