Using Individual Savings Accounts (ISA) has always been a very tax-efficient way of investing, with no liability to either income tax, or Capital Gains Tax on the invested funds. These days ISAs offer the opportunity for every individual to invest up to £20,000 per annum. Unlike pension allowances, ISA allowances cannot be reclaimed from previous…
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We are delighted to welcome Meg to the Foresight Team as our newest Client Manager. Meg is working towards her Diploma and brings a wealth of knowledge over with her from her previous roles. Meg is already settling in to the team and we look forward to supporting her through this next stage of her…
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Industry experts, the Pensions and Lifetime Savings Association (PLSA) suggest that, to have a moderate standard of living in retirement, a couple needs a net income of around £30,600 a year or £36,200 for those living inside London. Yet only about 42% of UK households are on track to achieve this. They have done a…
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King Charles III has avoided paying millions in inheritance tax on the Duchy of Lancaster estate due to an old rule designed to protect the Royal Family’s wealth. His Majesty automatically inherited the estate, worth over £652 million, following the death of his mother, Queen Elizabeth II. Under UK law, Inheritance Tax is levied at…
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When people move home, only around 1 in 25 remember to tell their pension providers their new address. This has led to over £19.4 billion of unclaimed pension pots, equating to 1.6 million pensions with an average fund size of £13,000. National Pension Tracing Day is on Sunday, 30th October, an unhelpful date as all…
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The Financial Times recently reported that the UK Future Fund, a government-run venture fund set up during the pandemic, has mostly invested in zombie businesses that have no long-term viability. This is not surprising given the apparent confusion over whether the fund was focused on growth or simply providing a backstop for high-risk businesses. The…
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A good education can be invaluable, but also requires significant investment and long-term planning. Last year the average cost for parents getting a child from birth to the age of 21 came in at £231,843, according to a recent study compiled by the Centre for Economics and Business Research in London. Although the total includes…
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It has been calculated that couples will need to find an extra £2,200 a year to maintain their standard of living post-pandemic, according to the pension’s industry research. The estimates show that a basic standard of living for a couple now costs £16,700 per annum, a moderate lifestyle requires £33,600 per annum, and a comfortable…
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In August 2022 we welcomed Harry to do a week of work experience with us, Harry has never worked in an office before and wanted to get an idea of what to expect before he heads off to university. Let’s see what he got up to while he was with us… For a college student…
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The latest HMRC data reveals that Inheritance Tax (IHT) receipts for the period April 2021 to February 2022 stood at a whopping £5.5 billion, £700 million higher than the corresponding period in 2021. The average amount paid per estate was around £209,000 and this amount can often be mitigated by various well-accepted financial planning techniques,…
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