When making contributions to your pension, it’s important to keep in mind that there’s a limit to how much you can contribute each year without incurring additional taxes. This limit is known as the pension Annual Allowance. On 6 April 2023, new pension legislation came into effect, presenting significant opportunities for various individuals. Among other…
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Are you concerned about the impact of Inheritance Tax (IHT) on your estate? It’s natural to want to leave behind a legacy for your loved ones, but, without the right plan in place, a significant portion of your wealth could be subject to Inheritance Tax. With IHT affecting more and more families, it’s crucial to…
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Semi-retirement is an option to consider for individuals who may not be ready to fully retire, but still wish to reduce their work hours and gradually phase out working life. By choosing to semi-retire, you can maintain a good work-life balance while still earning an income. Many people choose to semi-retire as it allows them…
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If you are a UK resident planning for your retirement, it’s important to be aware of the State Pension changes that have taken effect in the new tax year. From April, the amount you can now receive as part of the UK State Pension has risen, which will be welcome news to those who have…
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Many adults understand the need for financial resilience and taking out insurance to protect their incomes in case of sickness or accident. However, too many self-employed people do not have any cover to help them should they be unable to work and are increasingly likely to choose to carry on working despite illness or injury….
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No matter what stage of life you’re in, it’s never too early or late to start planning for your retirement. By taking a personalised approach, you can develop a retirement plan that will work for you throughout your life. At every stage of our life it can be difficult to take time to think about our…
Continue ReadingOur Aberdeen team moved offices over the weekend, we are now at 1 Rubislaw Place Aberdeen AB10 1XN Its looking good!
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Financial planning can be a daunting and uncomfortable conversation for many, but thankfully attitudes towards talking about money are changing. Wealth succession should be an integral part of your financial plan as early as possible – because the right preparation now can have positive long-term impacts on future generations. Despite the uncertain economic climate, families…
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When it comes to managing your finances, the wealth of resources now available can make it easy to try and go it alone. However, obtaining the right advice from a qualified professional financial adviser will ensure you are able to plan ahead by including expectations for items such as inflation, market declines and your protection…
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February 2023 has marked the end of an era at Thorntons Investments when our original team member, Graeme Young, retired after 24 years’ service. He was instrumental in creating the Investment team within Thorntons Law, where he worked as a financial adviser until 2014, and after, when Thorntons Investment Management Limited became its own entity. …
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