As the end of the 2023/24 tax year approaches, here’s what you need to know to get your finances in order, plus a heads-up on some key tax changes coming in the 2024/25 tax year. What to Do Before the End of This Tax Year: Consider using Your ISA Allowance: You can put up to…
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The chasm between generations regarding retirement prospects is glaringly apparent, as 78% of individuals believe their predecessors had more favourable pension plans or brighter retirement futures. According to recent research, this data highlights a stark revelation that underscores the urgency for younger generations to access improved financial education[1]. This will help address the inequitable distribution…
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The gender pension gap is an issue that extends beyond just the disparity in earnings between men and women. It also encompasses other aspects such as financial confidence, engagement with financial products and socio-economic factors. According to new research, women are 33% more likely than men to say they do not understand how their pension…
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We arranged for a photographer to attend our Dundee office in December to take a team photograph as we wanted to help clients see the support that is available to them across our team. Not everyone was available to attend for the photograph due to remote working or holidays however we managed to capture most. …
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Transferring wealth within a family is a delicate process that requires clear communication and effective planning. Otherwise, it could lead to a potentially large tax bill and bad feelings in the family. This narrative was depicted in the hit American HBO series ‘Succession,’ which centred on the Roy family, the owners of global media and…
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Have you recently evaluated your personal tax situation? Is your tax structure optimised for efficiency? As we approach the end of the tax year on 5 April 2024, it presents an ideal opportunity to assess and leverage the various allowances and reliefs available to enhance your tax profile. Allocating time for this review can provide…
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Embarking on the journey of investing can seem intimidating initially, but with a long-term perspective, it can significantly accelerate the achievement of your financial goals. It’s normal to feel a mix of excitement and apprehension as a first-time investor. There’s a lot to navigate – stocks, bonds, mutual funds, market trends and a sea of…
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From all of us here at Thorntons Wealth, we would like to wish you a Merry Christmas and Happy New Year. We wish you and your loved ones a very safe & happy festive period. Thank you for your continued support over the past year, and we look forward to working with you in 2024.
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Retirement is often envisioned as a time to unwind and indulge in our passions after years of hard work. However, recent research indicates that many individuals feel apprehensive about retiring due to financial and emotional concerns[1]. The rise of ‘retirement anxiety’ The escalating cost of living is putting a strain on income and savings, leading…
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As we approach the end of the year, taxpayers should begin assessing their tax obligations. This is not a task to be left to the eleventh hour, especially considering tax changes coming into effect in 2024. This is also particularly true for 2023, a year already marked by several tax changes that impact higher rate…
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