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fmifa Review – 2025 Edition
A collection of articles created by our advisers for our clients. This edition covers a range of subjects; from financial wellbeing, a few tax tips and a financial roadmap to help parents with their children’s finances. Any clients who have visited Penn Barn might recognise a few of the featured artifacts scattered around the office!
Your Finance Matters Winter 2025
A great article on steps to avoid overspending in retirement. Also, it is worth updating yourself on the key tax changes. We could all do with a reminder about the dangers of financial procrastination.
News
Was it a big surprise when the Chancellor recently announced that pension funds will form part of our estates for Inheritance Tax purposes from 2027? I guess the answer is, not really.
During recent Cyber Security training at Penn Barn, all the staff found the Hive Systems Password Table insightful, so we thought it was worth sharing with our clients.
Act now to boost your State Pension? You have until the 5th April 2025 to fill in missing national insurance contributions, which could make a difference to your retirement. Normally, you can fill in gaps going back six years, but until the 5th April 2025, those who...
Millions of pounds still sit inside cash ISAs earning modest rates of return and this situation is likely to get worse as the expectation of lower interest rates becomes reality.
Following the long-awaited Labour Party Autumn Budget, please read our summary which we hope you find helpful.
There has never been so much choice available to homeowners looking to use the equity in their home, so taking independent financial advice is crucial.
Scams can take many forms and often appear to be a legitimate investment opportunity. Use the FCA’s Scam Smart to check investments and pensions.
The number of individuals caught by Inheritance Tax (IHT) is at an all-time high, so it is worth understanding the main exemptions.
Many people overestimate how much they’ll need to live on in retirement, thinking that they’ll spend the equivalent of their wages. Another common perception is that you’ll need between half and two-thirds of..
Many people overestimate how much they’ll need to live on in retirement, thinking that they’ll spend the equivalent of their wages. Another common perception is that you’ll need between half and two-thirds of..
Using Business Property Relief (BPR) to help provide relief from inheritance tax It allows certain investments to be left to your beneficiaries free from inheritance tax. BPR was introduced in the 1976 Finance Act. It was created to allow small businesses to be...
Is it wise to hold individual shares? A question we are often asked by clients is “Should we keep our share portfolio?” In the 1960’s and 70’s it was quite common to buy a basket of blue-chip shares, sit back and enjoy some consistent growth and useful dividends and...
How to recognise a financial scam UK fraud prevention groups are warning individuals to be extra vigilant in the run up to Christmas and New Year sales. As these scams increase in sophistication, we are all vulnerable. Fraudsters can be articulate and financially...
Your retirement journey starts right now! There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company pension scheme. For most people now, this route simply doesn’t exist. Saving for a...
Revisiting your Inheritance Tax strategy The latest data from HMRC revealed IHT receipts for April 2021 to March 2022 were £6.1bn, 14% (0.7bn) higher than in the same period 12 months earlier. Receipts have increased partly due to higher death rates during the...
A case for natural income Whilst capital values have been bouncing about in recent years, the natural income distributions from FM’s income portfolio have stayed incredibly consistent. ‘Natural Income’ is the phrase we use to describe the process of producing income...
Don’t let caution get the better of you.“A ship is safe in harbour, but that is not what ships are for” Until relatively recently, inflation wasn’t a serious concern. The UK hadn’t seen persistent price rises since the 1970s. Today, there are reasons to be more...
Financial Planning More clients are using our financial life planning service for a variety of financial scenarios. We use smart technology to help draw a picture of their current financial position and build meaningful plans for the future based on their goals....
Retirement options for high income earners In this world of ours very little stands still. The same can be said for the pensions landscape, as rule changes over the years have made retirement options for high income earners harder and harder to navigate. High earners...
Don’t experiment with your investments Product providers may lure investors with the promise of glittering returns and market outperformance. In reality, only a few achieve this. We believe investors are better served aiming for realistic and consistent long-term...
Saving the planet with our savings A more sustainable approach to investing is gaining momentum, moving from a niche, bespoke area to a more mainstream investment. It’s called ESG investing - the Environmental, Social and Governance factors that some Managers now...
Investing for children A case of tax efficiency versus control We have a silly phrase we use with clients which is: ‘don’t let the tax wag the dog’. The words don’t make a lot of sense but somehow the meaning is generally understood, and we use it frequently when...
Saying a little prayer This may be of little help if your loved one dies without a will… Aretha Franklin, Jimi Hendrix, Bob Marley, Amy Winehouse and Prince are some celebrities who have died intestate. It is a common misconception that if you die without a Will, your...
Buckinghamshire Building Society Being independent allows Financial Management to continue to form new professional partnerships to ensure we meet all our client’s financial needs and allowing us to provide bespoke, often preferential, terms for our clients. We are...
Savers should plot their escape from zombie funds? Over many years there has been a huge reduction in the number of product providers within the financial services industry, one of the major drivers for this has been the offloading existing policies by large insurance...
How fm can help make your life better We believe the best way we can help the happiness and financial health of our clients is by helping them to create a plan focused on their life goals. A recent survey by psychologist Robert Epstein found that 25% of our happiness...
How to recognise a financial scam UK fraud prevention groups are warning individuals to be extra vigilant following a huge increase in the number of scams seeking to exploit the pandemic. As these scams increase in sophistication, we are all vulnerable. Fraudsters can...
Budgeting for retirement “Many of our clients have been with us for decades. We have helped them through the evolution of their pension schemes, from inception to maturity. We understand each stage and the associated responsibilities.” Philip Harper Financial Planner...
How close are you to achieving your retirement goals? Download Your Retirement Options Factsheet via www.fmifa.com or contact us to discuss your retirement planning with our Lifestyle Cash flow modelling. We also move from a position saving for the future, to spending...
Are homes now retirement cash machines? Remember when a mobile phone was just that: a mobile phone? When it didn’t connect us to the internet, act as our diary or tell us when the next train is due? Much like our mobiles, the retirement world has changed. The old...
How can I boost my state pension? "Regardless of whether you're under the old or new state pension system there are ways you can boost the amount of state pension you'll receive. However, they need to be considered carefully." The new 'flat-rate' state pension was...
Ten lessons to teach your children about money When it comes to teaching your children about money there are some lessons that can’t be taught in the classroom. During global lockdown, this may be a good opportunity for them to learn about managing their finances....
Anyone who reads the papers knows that the world’s economies are going through a period of uncertainty. It’s natural at these times for some investors to get twitchy, which only serves to make the situation even less predictable. The truth is that share prices...
Not all gifts at Christmas need to be wrapped up A common question from our clients: If I give money to my children, will they be taxed on it? There is a misconception that you cannot give more than £3,000 in any tax year, but this is not the case. The fact is you can...
Wycombe Sound radio's interview with Vanessa Chris Phillips, afternoon show presenter quizzed Vanessa on many aspects of this increasingly mainstream area of lending. With interest rates now below 3% fixed for life, far from being a last resort, Equity Release has...
Money – why it’s good to talk Do you discuss your finances with your nearest and dearest? In many families, having a frank discussion about wealth still remains a taboo Please contact us if you require a copy of our When I’m Gone Guide, available as a hard copy or...
The lesser-known way to cut the tax on your family estate Investment gains and dividends received within an ISA are not subject to tax. While, not officially part of the ISA family, Inheritance ISAs have become a popular way of preserving wealth for the next...
Equity Release: How people are spending their tax-free cash Source: fmifa’s client 2022 Over the past 12 months we have seen a marked increase in the use of Equity Release funds for supplementing retirement income. Individuals want and expect more out of retirement...
What happens to my pension on death? This question comes up time and time again and it is hardly surprising because the government continue to tinker with the rules. Generally speaking, the rules on death benefits are improving and the diagram below displays the...
How close are you to achieving your retirement goals? Clients ask us a variety of questions about pensions and quite right too. The decision to retire is one of the biggest life changes we experience bringing feelings that range from excitement to uncertainty. We also...
The value of financial advice Research shows that those taking financial advice are on average £40,000 better off compared to those not taking advice. The International Longevity Centre and Royal London looked at the impact of taking professional advice on the...
Your retirement journey There was a time when retirement seemed to take care of itself. It was normal to work, retire and then receive the state pension plus a company pension scheme. For most people now, this route simply doesn’t exist. Saving for a “pension” can...