Blog
Check out our latest thoughts and insights on a variety of financial topics
Earth Day 2023: ‘Invest in our Planet’ with ESG
April 22nd marks Earth Day, the anniversary of the birth of the modern environmental movement. The theme of Earth Day 2023 is ‘Invest in our Planet’ - so naturally it caught our attention. As a firm of Independent Financial Advisers, ‘investing’ is core to our business. But did you know that you can invest in a sustainable future?
Pension tax rules change in Spring Budget
New measures affecting pension allowances announced in the March Budget could mean your retirement planning strategy needs to be reviewed.
If Jeremy Hunt did produce a ‘rabbit-out-the-hat’ in his Spring Budget, it was the announcement of the effective abolition of the pensions lifetime allowance (LTA) from 2023/24.
Suits to soup kitchen: Our Helping Hands takeover
Helping Hands Community Project is a charity based in Leamington Spa, who do essential work providing support for the homeless and vulnerable in our local areas.
When the team here at Simpson Financial Services heard there was an opportunity to get stuck in and help, we lay down our calculators and donned our aprons.
Automatic enrolment and pension contribution reforms
A new government bill indicates that a change to the automatic enrolment minimum age, and increases to workplace pension contributions, could be on the horizon.
Private members’ bills rarely get far in the parliamentary process. They all too easily fall by the wayside, as second and any subsequent readings of a bill must take place on a Friday – a back-to-constituency day for most MPs – and be concluded before 2:30pm. For a bill to stand much chance of success, it therefore needs the support of the government.
A trio of Budget measures for childcare
The Budget announced three important changes to childcare provisions in England, but one trap remains.
The cost of childcare has become a hot topic in recent years. Despite increasing demand, in March 2022 the number of childcare places available had little changed since August 2015.
Looking forward to a Happy New Tax Year?
The new tax year starts on 6 April, heralding a raft of changes that will make an early tax review of the year ahead a wise move.
There is always plenty of attention given to planning for the end of the tax year, making use of allowances that are otherwise lost at midnight on 5 April. A March Budget normally adds to the focus as speculation mounts about what might change even before the tax year ends. Much less attention is paid to planning for the start of the new tax year, but that can be just as valuable an exercise.
Hannah Stanley wins Young Achiever of the Year Award
We’re thrilled to announce that Hannah Stanley, a dedicated and passionate member of our team, has recently been honoured with the Chartered Insurance Institute’s Young Achiever of the Year Award.
Every man for himself? Or are we finally challenging the patchwork effect of rising inflation?
Recently, we wrote about the rising rate of inflation, and how we saw 2021 coming to a close with inflation sitting at its highest level in almost 30 years, at 5.4%. What was not so clear, though, is just how much the effect of rising inflation in real terms is having, and will continue to have, on your individual financial circumstances.
The ‘2021 Inflation Components’ otherwise known as the Office for National Statistics (ONS) “basket of goods,” are included within the overall inflation calculation.
How is the rising inflation rate going to affect your financial planning?
From an all-time low of just 0.1% in March 2020, to its highest figure in decades, it is fair to say that the security blanket around the inflation rate has been well and truly pulled from under us.
Our team at Simpson Financial Services often finds that changes such as the rate of inflation and cost of living are not fully understood. Nor is the impact that increasing inflation can have on long-term savings and overall financial planning.
Personal Tax Planning: Are you making the most of your tax allowances?
It’s hard to believe that we are a month on from Christmas and New Year already. Other than when the next Bank Holiday and this year’s Jubilee celebrations are, where else are your thoughts drifting this year? Well, sorry, but you are going to have to come back from dreaming about your long hot summer holiday for now, because the tax year-end is almost upon us. And whilst it might not be top of your favourite things to do, if you are not already forging ahead, personal tax planning and efficient financial calculations now could be more beneficial than you may think.
Positive signs of a global dividend recovery to wrap up 2021
We certainly choose our moments to bring some slightly more upbeat financial updates! Yes, we are coming to the end of another year in which we have continued to see the ongoing financial impact of the COVID-19 pandemic, furloughed staff, panic hitting the petrol forecourts, and fear of potential food shortages during the festive season for various reasons. But research from Q3 2021 shows that dividend payments are headed in the right direction once again in all major markets. Indeed, there is evidence of a global dividend recovery, with dividends expected to reach pre-pandemic levels before the clock strikes midnight on New Year’s Eve.
Autumn Budget and Spending Review, 2021
Still taking on board some of the announcements coming out of the Autumn Budget and Spending Review? Are you wondering what the updates will mean to you and your family for the coming months and years?
Well, with this first Autumn Budget in three years, there is certainly some positive news. And although not completely post-pandemic, there were hints that the dramatic economic impact felt during the past 18 months might be, in some way, eased.
Will we ever bridge the gender pension gap?
Since our recent post about saving for retirement and pension planning, the office for National Statistics (ONS) has released further information highlighting how the retirement income gap has been dramatically impacted through COVID. Although it may be decreasing slowly, as long as the gender pay gap continues to live on, so too the gender pension gap will also continue.
All you need to know about a Lifetime Mortgage
Are you heading for your older years, but want to free up some equity to enjoy life while you are still fit and healthy? Or even an ‘elderpreneur’ (indeed, that word does exist!) who wants to start your own business, and would be grateful for some funds to set you up? If you do not want to break into your savings or alter your pension plans, you might have considered a lifetime mortgage.
We last spoke about mortgages, more specifically remortgaging, back in February. But we know an awful lot could have changed in your lives since then. With energy bills rising, a growing shortage of fuel and supplies, and more impact from the pandemic gradually coming to the fore, we certainly have plenty to think about day to day.
