24 May We can help you plan your retirement, free of charge

Join us for our Pre-Retirement Seminar We understand that retirement planning is an extensive task, which is why Virtue Money has been working together with a number of specialists to offer that service to you, all in one place. What we provide Our Pre-Retirement Seminar provides you with an opportunity to hear from and speak to: Financial Advisers A local Solicitor A Tax Specialist Retirees sharing their own experiences. Our seminar will offer the support and expert guidance you need to help you make informed choices about your future. Book …

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14 Jul Brexit – Guide to how it could affect your finances

  Welcome to our Guide to how Brexit could affect your finances. The UK’s exit from the European Union after 43 years is now set to happen. The vote by a majority of British people to leave the European Union on Thursday 23 June represents a very significant decision for the UK, for the European Union and indeed for the wider global economy. The UK voted to leave the EU by 52% to 48%.   Click here for full document

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30 Jun Surviving a Critical Illness

More people could face financial hardship despite medical advances Most homebuyers purchase life assurance when they arrange a mortgage, but only a minority obtain another form of financial protection that they are five times more likely to need before they reach retirement. Although we’re four times more likely to claim on a critical illness policy than a life insurance policy before the age of 65[1], fewer than one in ten (8%) of us have critical illness insurance, and only a third (33%) have life cover, according to Scottish Widows[2]. Common …

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27 Jun Devils in the Detail

Taking stock of Budget 2016 The Chancellor of the Exchequer, George Osborne, delivered his eighth Budget speech on Wednesday 16 March, his third in 12 months. Now that we’ve had time to take stock of the key announcements, we consider how they could impact your finances both today and in future years. The Personal Allowance will increase to £11,500, and the higher-rate threshold will rise to £45,000 in April 2017 The Personal Allowance is the amount of income you can receive before you start paying Income Tax. This increased to …

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23 Jun Stamp Duty Rule Changes

What could the shake-up mean for you? A shake-up of the stamp duty rules took effect on 1 April 2016 in relation to anyone owning more than one residential property – this will affect those buyers funding the purchase of a new home with the sale of an existing home: if their buyer pulls out but they still want to go ahead – perhaps by using a bridging loan – they will be liable for the stamp duty surcharge because they will technically own two residential properties at completion. Stamp …

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22 Jun Brexit

Impact on financial markets ahead of the EU referendum With an increasing focus on ‘Brexit’, our investment clients will naturally be monitoring the impact on financial markets ahead of the referendum scheduled for Thursday 23 June. The nature of investment is long term. Constantly making changes to take into account short-term events often proves to be counterproductive in the long term. Movements in currencies and shares are often fairly short-lived, as the result of the Scottish referendum showed. Analysis, predictions and arguments In the run up to 23 June, we …

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20 Jun Hello LISA

Harnessing the simplicity and popularity of the ISA wrapper The introduction of the new Lifetime Individual Savings Account (LISA) next year is aimed at helping young people save flexibly for the long term throughout their lives, and simultaneously enabling them to save for a first home and for their retirement without having to choose one over the other. Simplicity and popularity LISA is designed to work in conjunction with existing ISA products and be simple for savers to use by harnessing the simplicity and popularity of the ISA wrapper where contributions …

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14 Mar Income Matters

Facing retirement with an annual income shortfall of £12,600! The UK’s mass affluent investors[1] face an average annual income shortfall of £12,610 in retirement. This jumps to a staggering £28,000 shortfall among the mass affluent millennial population, according to the BlackRock Investor Pulse survey. Nearly three quarters (73%) of mass affluent Britons say it’s important for them to earn an income on their investments, yet they still allocate more than 40% (41%) of their assets to cash. Perhaps unsurprising then that a third of mass affluent Britons are concerned about …

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10 Feb Open-handed Granparents

Generosity shows no sign of stopping Forget the headlines about post–pension freedoms with retirees spending their nest egg on a Lamborghini – new research shows that 2.4 million UK grandparents[1] have either withdrawn money from their pension to support their grandchildren or plan to in the future. According to new research from LV=, a quarter of generous grandparents (25%) who have already given away money to their grandchildren[2] have taken the funds from their pension. A further one in six (16%) plan to use their pension for this reason once …

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04 Feb Pension Credit

Cuts for people who go abroad for over a month People who go abroad for over a month will no longer be eligible for pension credit. At present, housing benefit and pension credit recipients can go abroad for up to 13 weeks while continuing to receive payouts. The spending review says: ‘The benefit system should not subsidise those on benefits to go abroad for extended periods. This reform will ensure the benefit system is not paying the rent of people who go abroad for more than four weeks at a …

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