Chris Jones, Author at Autonomy Wealth

Taxing times ahead

6/12/19

Don’t be penalised by the tax system when you exercise your freedoms The ‘pension freedom’ reforms of 2015 were welcomed by consumers, as they vastly widened options available to most savers at retirement. Pension freedoms allow savers to have the flexibility on how and when to spend their money without…

A long life needs a smart retirement plan

25/11/19

Reaching the big 50 can be a financial wake-up call Your 50s are a crunch time when saving for your retirement. If you’ve already set a retirement savings target but have been neglecting it, the reality is that now you can’t afford to delay your planning any further – and…

Will I have enough money to last through retirement?

26/9/19

Research finds mismatch between retirement expectations and reality Retirement is a chance to do more of what you enjoy. When it comes to planning for your retirement, you need to think about what you’d like your life to be like. There is no set retirement age in the UK any…

Guide to later life care

27/11/18

Have you thought about the cost of care in later life? One of the biggest challenges of the 21st century is Britain’s ageing population. There is continually much talk about later life care in the media, and it’s a subject that is going to be one of the biggest social…

Beating the Child Benefit Tax Trap

15/2/18

As a reminder, where one parent earns above £50,000, a “high income child benefit tax charge” is levied on that earner with the effect that there is a 1% tax charge for every £100 that their income exceeds £50,000. By the time income reaches £60,000, the charge is equal to…

Why Make a Will?

24/10/17

Ahead of Will Aid in November, we look at the rules that apply on intestacy: where someone dies without making a Will, and some of the key reasons why it’s worth making a Will. In England and Wales, the rules on intestacy were amended in October 2014, so that when…

Deferring the State Pension – is it worth it?

20/9/17

With the decline in active membership of final salary pension schemes and with its inflation-based increases, the state pension is becoming a more important part of retirement income for many clients reaching retirement. Of course, some clients have stopped working some years before state pension age (SPA) and here our…

Lasting Powers of Attorney – Registration Fees to fall

17/4/17

On 1 April 2017 the registration fee for a lasting power of attorney (LPA) or enduring power of attorney in England and Wales will reduce from £110 to £82. The fee for a repeat application to register an LPA will also fall from £55 to £41. According to the Office of the…

New National Savings 3-year Bond Confirmed

17/4/17

In the Budget last month, the Chancellor also confirmed the new National Savings and Investments (NS&I) bond, which will have a three-year term and will offer an interest rate of 2.2%. The maximum investment limit, however, is low at £3,000. The bond will be subject to a minimum investment limit…

Capital Taxes: Inheritance tax v Capital Gains Tax

17/4/17

Inheritance Tax (IHT) was formerly known as Capital Transfer Tax. It is worth knowing that the capital gains tax (CGT) liability on an asset is usually extinguished on death and the beneficiary inheriting the asset is deemed to acquire the asset at probate value. This can lead to a dilemma…