Professional Financial News
What is better, overpaying my mortgage or investing?
With the Bank of England expected to cut interest rates this year, we have looked at some studies to see whether it is more beneficial to overpay on y…
Only 7% of people seek financial advice during divorce
Recently, Legal & General teamed up with Opinium and did a study that showed only 7% of people seek advice from a financial adviser during a divor…
What we can take from Labour’s first Budget in 14 years?
Yesterday, Chancellor Rachel Reeves, delivered Labour’s first budget in the House of Commons since 2010. Before the announcement, a lot of rumou…
25 Years and counting for ISAs
Since being launched on 6th April 1999 as the successor to PEPs and TESSAs, the Induvial Savings Account (ISA) has become an integral part of the of s…
Which is better to help with your retirement, property or pension?
When approaching retirement, where you invest to deliver an income is a tough aspect to comprehend. One of the most common questions is whether to inv…
Brighter days are ahead
This year has brought hope of a better financial future as inflationary pressures recede and as the economy continues to grow. Therefore, it could be …
What are the rules of a Junior ISA
Junior ISAs or JISAs were originally launched in November 2011 to replace Child Trust Funds. JISAs are becoming increasingly more popular for parents …
The many facets of Financial Wellbeing
According to research from Arbuthnot Latham, 81% of the UK’s wealthiest individuals are ‘stressed’ about their finances, suggesting …
Summary of The Spring Budget 2024
On March 6th, the Chancellor of the Exchequer, Jeremy Hunt, presented his 2024 Spring Budget to parliament. Here are the main takeaways and how …
Advice for first time buyers
Getting a foot onto the property ladder has always presented challenges. Research suggests that first time buyers could currently experience the most …
The importance of a Will and Power of Attorney
If you do not have a Will in place, you should consider making one to set out your wishes after your death and ensure that your assets go to the inten…
Cash vs Real Return
A key part of any financial plan is to consider how you can protect your hard-earned savings from the ravage of inflation. Keeping your cash ‘un…
How will the Autumn Statement affect you?
On 22nd November, Chancellor Jeremy Hunt delivered a tax cutting Autumn Statement. Despite rumours of a lacklustre statement the Chancellor said publi…
It is good to talk
A pandemic followed by a cost-of-living crisis has undoubtedly created a challenging financial backdrop for us all and inevitably heightened money- re…
The increased cost of raising a child
Cost of raising a child soars Recent research has found that the cost of raising a child has increased by 10% over the last year, with the average UK…
Could equity release work for you?
What is equity release? Equity release lets homeowners aged 55 and over release tax-free cash from the value of their home. The amount you can releas…
What is ESG?
ESG stands for Environmental, Social and Governance. ESG, also known as sustainable investing, is used to screen investments based on corporate polici…
Receiving a windfall
Receiving a windfall Life throws many things at you which can have a significant impact on your financial needs and plans for the future. The phrase…
What is Capital Gains Tax?
What is Capital Gains Tax? Capital Gains Tax (CGT) is due when you sell, transfer, gift or exchange all or part of an asset such as property and inve…
What you need to know about the Spring Budget 2023
Chancellor Jeremy Hunt abolishes the pension Lifetime Allowance, raises the annual allowance for pension contributions to £60,000 and raises the…
What is the state pension triple lock and how does it work?
The Chancellor’s decision to protect the state pension triple lock was one of the most headline-grabbing aspects of the recent Budget. What is…
How high could UK interest rates go?
UK interest rates: How will the rise affect you and how high could it go? Following the easing of restrictions with Corona Virus, Interest rates have…
Pensions Round Up
Recently released research suggests UK consumers are becoming more knowledgeable about pensions and prepared to take a greater role in preparing for r…
Valuing financial advice
In recent times the importance of expert financial advice has become greater than ever, as people seek reassurance that their pensions, investments an…
Tax year 2022/23 – get your ducks in a row
Effective tax planning strategies can help shield you from the chill this spring. While there's minimal change in the operation and structure of …
Huge numbers risking a double tax hit on their pension
Data from the Financial Conduct Authority4 shows that the number of pension pots accessed for the first time in 2020–21 totalled 596,080; the nu…
£5.4 billion received by HMRC in IHT payments in 2020-21 tax year
In late July, HM Revenue & Customs (HMRC) published its annual statistics on Inheritance Tax (IHT). These revealed that IHT payments received by H…
Balancing money and mindset to become a financial wellbeing ‘all-rounder’
A new study4 has found that people with a financial adviser are over four times more likely to display high levels of financial wellbeing than those w…
‘Noise’ blocking – good for your portfolio
It’s easy to feel bombarded by the constant cycle of negative news headlines or ‘noise’, which can add to your anxiety about how you…
National Insurance and dividend tax rises
A new health and social care tax will be introduced across the UK from April 2022. The tax will initially begin as a 1.25 percentage point increase in…
The financial basics you wish you’d learnt at school
A survey of British employees reveals that a significant proportion of working adults wish they’d been taught more about basic financial topics …
Work for yourself? Make your pension work for you
Self-employment offers many benefits: being your own boss and having the flexibility to choose your working hours being but a couple of examples. But …
Why it pays to update your pension expression of wish
An expression of wish tells your pension provider who you would like the beneficiaries of your pension to be in the event of your death. Multiple…
How a lick of paint could add up to £4,000 to the value of your property
Research has found that something as simple as the colour of your front door can make a big difference to the value of your property. Sell House Fast…
The mortgage guarantee scheme and what it means for you
The government have introduced a scheme to help many get on the property ladder as it is designed to increase the number of 95% loan-to-value mortgage…
Savings increase during lockdown
37% of the UK population have managed to put away more money during lockdown, as daily expenditure on commuting and leisure activities dramatical…
Supporting family in retirement
Third of retirees financially supporting family A third of potential retirees continue to financially support their families, with regular han…
Spring 2021 UK Budget Summary
Chancellor Rishi Sunak has unveiled the details of his Budget in the House of Commons and here are some key points. What you need to know: &nbs…
How being married can save you money in the long run
With Valentines fast approaching here are some financial advantages to tying the knot. Although the average cost in the UK of weddings is now over &po…
New year financial checklist
Getting financially fit for a new way of life. With millions of people having been affected financially by the pandemic, it is possible that your fin…
Power of Attorney potential refunds!
1.3 million people are owed refunds from Power of Attorney applications. Only 400,000 refunds have been claimed so far, leaving over a million people …
Rediscovering what you already have
In recent weeks, there has been an 800% rise in Brits searching for ‘Staycation UK’, as the uncertainty surrounding international travel d…
Emergency Job Scheme Announced
As the furlough scheme draws to an end on the 31st October, Rishi Sunak has announced a new support package. The Job Support Scheme will come into for…
Minimum age to access private pensions set to increase from 55 to 57
It has been confirmed the minimum age for accessing a private pension will increase from 55 to 57, in 2028. The current age to access your retirement …
Top tips for first time buyers
How to make purchasing your first home that little bit easier. Stay at home. Continuing to live with parents may be a cheaper alternative to …
Stamp Duty Changes
On the 8th July the Chancellor unveiled that stamp duty on house purchases up to £500,00 would be temporarily removed. In addition, house prices…
Income Protection – why is it worth considering?
If you were unable to work due to sickness or ill health, how far would your savings go? What is Income Protection? Income protection is a t…
Coronavirus Job Retention Scheme
On 20th March, Rishi Sunak announced a Coronavirus Job Retention Scheme to prevent thousands of job losses due to the global pandemic. The furlough sc…
Intestacy Rule Changes
On the 6th February 2020 the Government decided to increase the amount a spouse will receive should their partner die without making a Will. This amou…
LF Woodford Income Focus Fund Suspension lifted
Link Fund Solutions have now confirmed that they will be lifting the suspension on the LF ASI Income Focus Fund (formerly known as LF Woodford Income …
Why saving into a pension in your 20s is important
We have put together a list of 5 helpful tips to consider to make sure you get the most out of your retirement: 1. Start saving as soon …
New Year Financial Resolutions
Firstly, Happy New Year from all at Red IFA and we hope that 2020 is your best year yet! Here are some points to consider as we begin a new year: &nb…
Suspension of M&G Property Portfolio
One of the UK’s biggest property funds M&G Property Portfolio that is worth £2.5bn has been temporarily suspended. The firm have said …
The deadline to open a Help to Buy ISA is approaching
Calling all first-time buyers! On the 30th of November the Help to Buy ISA will be closed to new investors. All you need is a mini…
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