Continuing with our Tax Planning Tips for 2023/24. To see how we can help, please click here to get in touch. Maximise tax relief on your pension contributions by using all of your annual allowance. The annual allowance for 2023/24 is £60,000, but you can also use surplus allowance from the previous three tax…
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The third article in our series on Tax Planning Tips for 2023/24. To see how we can help, please click here to get in touch. Let rooms in your own home to one or more lodgers. Rent-a-room relief allows up to £7,500 of rent per property to be received tax free per year. The…
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Our second article in our series on Tax Planning Tips for 2023/24. To see how we can help, please click here to get in touch. Contribute up to £9,000 into your child’s Junior ISA. The fund builds up free of tax on investment income and capital gains until your child reaches 18, when the…
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Over the next few weeks, we will be running a series of articles on Tax Planning Tips for 2023/24. These general tips highlight ways in which you can currently use certain tax reliefs to your advantage, and how to avoid some of the tax penalties. It can help you navigate the complexity of certain tax…
Continue ReadingSimon Lewis joined the Discretionary Portfolio team at Thorntons Investments in May 2023 supporting its growth strategy in discretionary funds under management across a range of individual client and trust portfolios. Simon brings a wealth of experience to his role as Portfolio Manager with almost 20 years working as a stockbroker, private banker and investment…
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Shortly after his arrival in 11 Downing Street, Chancellor Jeremy Hunt announced a rather severe haircut to the amount of capital gains individuals can realise before creating a tax liability. Since then, there have been further changes to pension allowances, and this has undoubtedly caught the attention of savers and investors alike. It is the…
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The first Budget since October 2021 was widely expected to be an uneventful affair. Five months ago, the then new Chancellor, Jeremy Hunt, presented an Autumn Statement that was more of a Budget than many formal Budgets. Not only did his Autumn Statement result in a greater increase in the tax burden than most Budgets…
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The Scottish Budget arrived towards the end of a busy week for economic news and the Deputy First Minister, John Swinney, set out “four important factors” in arriving at the measures announced in the 2023/24 Scottish Budget. Subject to these major constraints, Mr Swinney set out three priorities for “a different path” from that taken…
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The Chancellor Jeremy Hunt’s Autumn Statement came against the background of a Spring Statement and a September ‘mini-Budget’ (which has now been substantially reversed). The overall context is a European recession and high inflation in the wake of the pandemic and the war in Ukraine. The Autumn Statement was presented as a difficult and necessary…
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‘The stock market is designed to transfer money from the active to the patient’ – Warren Buffett With headlines providing a steady stream of less than good news, we are writing to provide some illustrations which we hope will ease any concerns you have, and hopefully frame current volatility in the context of long-term…
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