financial planning

What’s happening to the Tapered Annual Allowance ?

There has been much talk in the financial press recently of proposed changes to the threshold for the tapered annual allowance from £110,000 to £150,000. The taper was introduced in 2016 and gradually reduces the annual allowance for those on high incomes. For every £2 of adjusted income above £150,000 a year, £1 of annual allowance is lost. It has proved unpopular as individuals in that earnings bracket can have their annual tax-free pension savings allowance reduced from £40,000 to as little as £10,000. They are also at risk of  receiving a lifetime allowance tax charge on their benefits. The Read More

Why Directors and Business Owners fail to plan their retirement

Company directors and owners of SMEs make plans and do forecasts all the time. Cash flow forecasts, SWOT analyses, plans for renewals and refurbishment; there’s hardly a day when they’re not eyeball to eyeball with a spreadsheet. So why do so many of them fail to plan their own retirements properly? In our experience company directors and owners of SMEs are so wrapped up running their business that they often forget their own financial planning – or simply don’t see it as a priority. There is clearly a need for more directors to plan properly: why do so many of Read More