The coronavirus (COVID-19) pandemic has prompted a desire to move into ethical and sustainable investing for more than half (51%) of advised UK adults, according a new report[1]. And while the trend is common across the generations, it’s Millennials who are leading the charge.
When it comes to retirement insecurity, one concern dominates all others, the fear of running out of money during retirement and with people living longer than ever before, it’s a very valid concern.
Saving for your retirement is one of the longest and biggest financial commitments you will ever make. Imagine you’re retiring today. Have you thought about how you’re going to financially support yourself (and potentially your family too) with your current pension savings? The pension freedoms introduced in 2015 provide even more of an incentive to look again at your retirement savings.
Inheritance Tax receipts reach £5.32 billion in 2020/21
Inheritance Tax is a tax on an estate (the property, money and possessions) of someone who’s died. Inheritance Tax receipts in the United Kingdom amounted to approximately £5.32 billion in 2020/21, compared with £5.36 billion pounds in the previous financial year, which was a peak for this provided time period[1].
Organise how much you could leave for the people you care about
Inheritance Tax can cost families thousands of pounds but there are various ways to legally avoid paying this tax. Without making suitable plans, your loved ones could face a tax bill of 40% on the value of everything you own above a certain threshold.
