GUIDE TO REVISITING YOUR FINANCIAL PLAN IN 2023
Here's our useful guide to revisiting your financial plan in 2023
Analysis of the Key Tax Changes
Outlining the Practical Implications For You, Your Family And Business
COLERIDGE CAPITAL MODEL PORTFOLIO SERVICE
We are delighted to announce that we have formed an Investment Committee and Model Portfolio Service with M&G for the benefit of our clients.
Given the dynamic nature of the market at this time we want to make sure our clients benefit from making revisions to their portfolios on a regular basis. Our Model Portfolio Service will allow for automatic changes to fund managers and investment allocation to manage the level of risk and returns agreed with you. Our existing clients can opt for this service without incurring costs for the revision.
Economic factors as well as fund managers should be closely monitored. We believe that leveraging the resources, scale and research teams of M&G, who manage £370 Billion, will further improve our services.
Of course we continue to retain our status as an Independent Financial Adviser so can make and tailor any solutions to suit your individual requirements, preferences and objectives.
THE NOT SO MINI BUDGET
Kwasi Kwarteng definitely hit the ground running with the largest tax cuts in a Budget since Anthony Barber 50 years ago!
He’s scrapped the 45% top rate of income tax, reduced the Basic Rate of tax (from 20% to 19% from April 2023) abolished the cap on bankers’ bonuses and reversed the recent National Insurance rise which was proposed to fund health and social care. There will also be cuts to Dividend taxes. A lot of the changes favour higher earners.
This has led to a slide in the value of the Great British Pound, and the cost of borrowing looks set to increase. The idea is that the mini-budget stimulates the economy. Let’s wait and see.
We know you’ll have different priorities for your wealth at different points in your life. Whatever your financial aims, we can help you achieve them.
PUTTING LIFE ON HOLD COST OF LIVING CRISIS DELAYS HOME OWNERSHIP, HAVING CHILDREN AND RETIREMENT
In this issue we cover a number of matters – including how to navigate the higher rate tax freeze, why making plans for Inheritance Tax is so important, retirement planning, rising living costs and much more
Only by recognising and meeting your individual requirements can we have a positive impact on your life and business. This is why we provide an extensive range of services, plus the ability to tailor solutions based on your specific needs.
DON'T ABANDON PENSION CONTRIBUTIONS AS PRICES RISE
As the cost of living continues to soar, with inflation reaching a 40-year high, the impact on household finances is taking its toll. But it is essential to try to maintain a savings habit even in the current climate. Among several topics, on page 10 we look at the impact breaks in pension contributions could mean to savers by missing out on thousands of pounds in future that will mean less income during retirement.
SHOW ME THE MONEY
HOW TO INVEST YOUR MONEY AND AVOID COSTLY MISTAKES
It’s not surprising that the world of investing can seem complex, especially in the current global economic climate. Investors face an endless supply of market news, many investment choices and often-changing market conditions. There are a number of key principles that every investor should follow with the aim of building an effective long-term strategy designed to achieve their financial goals.
On page 6 we look at ten principles that every investor needs to know. A full list of articles featured in this issue appears on Page 2.
Are you Fed up with your 9-to-5?
There are many factors that can influence when someone decides to retire. Please see inside for more on this.
Most taxpayers started to see their tax bills increase from April 2022.
As we move into the new 2022/23 tax year, now is the time to review your tax affairs to ensure that you have taken advantage of all reliefs available and have considered some planning opportunities to help reduce your tax liabilities.
NEW YEARS TAX SAVINGS RESOLUTION
Inside, we look at New Year’s tax saving resolutions to make sure you are fully utilising your relevant tax planning opportunities.
With the tax year end (5 April) on the horizon, taking action now may give you the opportunity to take advantage of any remaining reliefs, allowances and exemptions.
Autumn Budget Statement 2021
Our guide
The Chancellor of the Exchequer, Rishi Sunak, delivered his Autumn Budget and Spending Review 2021(SR21) to Parliament on Wednesday 27 October 2021.
This Budget follows another year of extraordinary economic challenges as a result of the ongoing pandemic.
In our guide, we look at what the key announcements could mean to you, your family and business.
