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Archive: Nov 2019

Readers Question: Can I use my spouse’s tax allowance?

Readers Question: Can I use my spouse’s tax allowance? | November 15, 2019

The first £12,500 of any income we earn is free of income tax, what seems unfair is that if one of you stays at home and does not have any earnings, then their £12,500 of tax-free allowance is left unused.
Many people don’t realise that since April 2015 you can apply to get a refund in these circumstances whree you could save £1,149 of income tax.

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Good-bye Help to Buy

Good-bye Help to Buy | November 8, 2019

If you want to open a Help to Buy ISA, you will need to be quick because the Help to Buy ISA is due to close to new customers on 30th November. However, don’t despair the successor to the Help to Buy ISA was launched back in April 2017 and is well underway, so until the end of the month, you have two options to help you save for your first home, the Help to Buy ISA and the Lifetime ISA, often referred to as the LISA. So, what’s the difference between these two ISAs?

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Styles of Investing; Active or Passive

Styles of Investing; Active or Passive | November 8, 2019

Before I became a financial planner, investing was all about making money and buying a ‘hot stock’, 25 years later, I reflect on my naivety and appreciate how others may also be thinking this and asking themselves what is the right way to invest?

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Early retirement with a defined benefit pension

Early retirement with a defined benefit pension | November 3, 2019

A defined benefit pension is the gold standard of pensions, the scheme promises you a guaranteed income at your agreed retirement age for the rest of your life, the amount of income you receive will rise in line with inflation and the amount you receive is based on the number of years you were a member of the scheme and your pensionable salary.

These schemes offer benefits, which for the majority of cases mean that they are best left alone until your scheme retirement date, however, if you wanted to retire early, should you take benefits early?

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The taxing decision of pension withdrawals

The taxing decision of pension withdrawals | November 1, 2019

A reader recently emailed in with a question about his and his wife’s SIPP pension. The question surrounded the readers’ wife, who is a nontax payer now, and is likely to remain a nontax payer. Find out how this could affect your own pension withdrawals.

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