Telling ‘white lies’ about money and salary Almost half of British adults (48%) have ‘fibbed’ when it comes to their finances. The research shows that from a given list, Britons would be most likely to tell financial ‘white lies’ to their partner than anyone else (15%), according to a survey from Standard Life.

What will feature in your top New Year’s resolutions?

As we enter a New Year, setting clear goals is critical for the success of any financial resolutions. Year after year, achieving financial health and wealth is likely to feature in your Top 10 New Year’s resolutions. So what should you consider?

Letting properties on the side boosts income

Britain is seeing a boom in ‘part-time’ landlords where people are letting properties on the side to boost their main income, according to new research from LV= landlord insurance.

What are the hopes of last year’s university leavers?

2014′s university leavers expect to have bought their first home by the age of 30, according to research published by Endsleigh. The research also reveals that, by the age of 30, the university leavers also expect to be married (average age 29), established in their career (average age 27) and to have a child (average age 30).

The first concise picture of current and changing sources of retirement income

Current retirees are satisfied with 47% of pre-retirement income according to a recent report that reveals those approaching retirement are expecting to receive £23,700 per year when they retire. The Retirement Income Uncovered report by Old Mutual Wealth also shows that the average income in retirement today is currently just £19,000 – a shortfall of £4,700 per year, or 25%.

How future retirees may take advantage of their pension lump sums

Research showing how retirees use their pension lump sums to pay off debt provides an insight into to how pension cash unlocked following the new freedoms available from 6 April 2015 could be used.

Report shows the proportion of people preparing adequately for retirement is on the up

The number of women saving adequately for retirement has shifted from a record low to a four-year high in the last 12 months, according to Scottish Widows’ annual Women and Retirement Report.

Providing financial support for adult offspring – what are the implications?

Parents with adult children living under their roof are spending £1,200[1] more than their Empty Nester counterparts each year on everyday household expenditure, bringing the total annual cost of ‘Full Nest Syndrome’ in the UK to £3.2 billion[2].

Many people do not yet fully understand the significance of the new retirement income choices

Many of Britain’s over-55s say the massive changes to retirement income announced in last year’s Budget 2014 will have no impact on them, research from Aviva’s latest Real Retirement Report shows.

12 strategies to keep your tax liability to a legal minimum

The run-up to the tax year end on 5 April 2015 is the perfect time to consider tax planning opportunities and to put in place strategies to minimise tax throughout 2015/16.

New workers face a significantly longer working life than past generations

The typical Briton entering the workforce today can expect to have nine jobs, including one major career change, across 48 years of working[1].

The key announcements at a glance

Chancellor George Osborne delivered his Autumn Statement 2014 to Parliament on 3 December last year. Much of the commentary focused on weak public sector finances data in the context of strong GDP and employment growth.

The freedom to do as much or as little as you want with your pension

Within the next decade, nearly half of those people (44%) due to retire will require professional financial advice to help them make financial choices, according to research[1] published by insurer Zurich.

Take your pension to the max

Pensions have long been seen as a tax-efficient form of investment. The contributions that you pay into your pension will benefit from tax relief and aren’t subject to tax while they’re invested in your pension pot (although the tax credit paid with dividends can’t be reclaimed by your pension scheme). Contributions to your employer’s pension scheme (including any additional voluntary contributions you make) can be made from your gross pay before any tax is charged.

From 6 April 2015, there will be no restrictions on how much income you can withdraw from your defined contribution pension pot, but any income that is withdrawn (and it is possible to withdraw your whole remaining pension pot in one go) may be subject to income tax.

Tax-deductible expenses

If you’re self-employed, you can claim expenses against your tax bill, but not all business expenses qualify so it’s important to make sure your claim is valid. Unless something you buy for your business is a capital asset, for example, a computer or machinery (which you claim for under different rules), you can deduct its full cost when working out your taxable profits. You receive immediate tax relief for the full amount.