• Born between 1971 and 1973? You could lose up to two years of pension access. • Thought you could retire or pay off your mortgage at 55? You might need to wait until 57. • Even if you’re older, now’s the time to check your pension plans still work […]
Category Archives: Personal Finance
26
Aug
Aug
Winter Fuel Payment Clawback 2025/26 In June 2025, the UK government announced that, from Winter 2025, the eligibility for Winter Fuel Payment in England and Wales will be expanded so that more pensioners are eligible. All pensioners born before 22 September 1959 will receive Winter Fuel Payment automatically. However, if your annual taxable […]
Blog, Business, Financial Planning, Later Life, Personal Finance, Property, Protection, Tax
How Has Inheritance Tax Changed?
21
Aug
Aug
How Has Inheritance Tax Changed? On 21 July 2025 the draft legislation for the Finance Act 2025-26 was published and it confirms that the Labour Government wishes to proceed with its proposed Inheritance Tax (IHT) reforms, which come into place from April 2026. As a result of those reforms, the […]
Blog, Pensions, Personal Finance, Tax, Taxable Benefits
Underpaid State Pension: Check Your NI Record for Missing HRP
17
Apr
Apr
Errors in State Pension Due to Home Responsibilities Protection (HRP) The Department for Work and Pensions (DWP) estimates it has underpaid between £300m and £1.5billion of state pension because of errors with the recording of Home Responsibilities Protection (HRP). HRP was a scheme designed to help protect parents’ and carers’ […]
Blog, Financial Planning, Later Life, Pensions, Personal Finance
Why Should You Pay Into A Pension If You Are Self Employed?
26
Sep
Sep
As an accountancy firm we deal with lots of business owners who operate as a sole trader or in a partnership. A questions we get asked by a lot of our self employed clients is, ‘should I pay into a pension’? Here are a few of the reasons you […]
23
Sep
Sep
Dreaming of an Overseas Holiday Home? Consider UK Tax Implications… When summer fades into a distant memory and winter is on the horizon, many of us dream of the sand, sea, and sunshine an overseas holiday home can bring, without much thought to the UK tax implications of owning […]
15
Apr
Apr
What happens if you don’t file your tax return on time? You should have filed your 2023 Personal Tax Return and Partnership Tax Returns by 31 January 2024. If you did not file on time HMRC will charge an automatic £100 penalty to individuals. For a late submission of a […]
30
Jan
Jan
A Director’s Loan Account (DLA) is a financial account that tracks transactions between a company and its directors (or shareholders) when money is either borrowed by the director from the company or lent by the director to the company. It is essentially an accounting record that helps to keep track […]
30
Nov
Nov
What is a Personal Tax Account? The Personal Tax Account system is a handy little online resource HMRC has provided to enable you to view and make changes to your personal tax information online. You will be able to manage your tax affairs through the account rather than phoning or […]
23
Oct
Oct
As a business owner, mastering your finances is crucial for long-term success. In our comprehensive guide ‘Running a Limited Company: A practical guide for business owners’, we explore the essential elements of financial management that every business owner should consider. From budgeting and strategic planning to maintaining a healthy financial […]