Ways to potentially reduce your Capital Gains Tax liability
Capital Gains Tax (CGT) is a form of taxation imposed on profits earned from the sale of certain types of assets. Gains are calculated by subtracting the purchase price and related expenses (such as sales charges) from the selling price. They are generally taxed at a rate higher than income taxes in order to discourage speculation.
The professional advice received from a financial adviser can make it easier to understand your financial situation and help you create strategies for better money management. They will be able to provide tailored advice that considers your individual circumstances, goals and needs.
How inflation could be impacting on your retirement plans
Inflation can affect your retirement savings depending on what you do with that money. Leaving your money in a bank account with low interest is a risk, as your money will not outgrow the rate of inflation.
It is essential that employers provide clear information regarding their commitment to a pensions scheme. Many employers do already work hard at improving an understanding of pensions among their workers, but research shows that people want to know the level of commitment even before they start their first day[1].
Would you be able to carry on paying the bills using statutory sick pay or your savings?
Consider how you would cover your usual monthly costs if you were ill or injured and couldn’t work for a while. Would you be able to carry on paying the bills using statutory sick pay or your savings? If not, it’s worth thinking about.
