Covid, Ukraine, Gaza, and the high price of the basics of food and fuel. Public service strikes and disruption to services, hospital waiting lists, illegal immigration, and the inability to find workers willing to work. A slump in stock market values and unusually a collapse in bonds at the same time. Local government operations becoming insolvent with a desperate need for additional central funding, but where from? The country has a poor balance of payments whilst enduring one of the highest taxation rates since the sixties. Just the right time to have an election and let a new team get the ..read more

The Spring Budget is looked forward to with some hope that we may feel better off after it.  However, not many could claim that after the latest iteration.  It was common knowledge that the Chancellor had little room for manoeuvre owing to the poor state of the public purse. Further, the cut to National Insurance and freeze on Fuel Duty were confirmed before he eve ..read more

Deferring Capital Gains Tax  If you are an experienced investor who is not afraid of investment risk and has a capital gain, it is possible to role over the gain into an Enterprise Investment Scheme and defer paying the CGT due. There are also two more tax benefits in that such an investment qualifies for Business Relief for  Inheritance Tax after two years of ownership,&nbs ..read more

We get many questions about IHT tax and how to minimise HMRC’s take from an estate. Below are just a few. How much can I give away? That is very much based upon personal circumstances. It is important that the client takes care of their own future needs rather than being too generous. Can I take out insurance to cover the bill? Yes, but remember it is a cost rather than a saving and the policy must be written under trust to keep it out of the estate and to make sure the beneficiaries receive the money for the tax without the need for probate. What are the advantages of using Business Relief ..read more

The Chancellor was faced with a difficult balancing act trying to manage the desire to keep the rate of inflation under control coupled with calls for tax cuts. Better than expected public finances allowed him to help individuals with a cut to national insurance contributions and an uprating of all working age benefits in full, by inflation (6.7%), and an increase in the state pension, via the Triple Lock, by 8.5%. For pensions, the lifetime allowance abolition is still set for April 2024 and the Chancellor announced a number of proposals to support his Mansion House reforms to enable pension ..read more

High earners, and we have number of them, must take care when making pension contributions. Earlier this year, Jeremy Hunt, the Chancellor, increased the annual allowance that can be paid into pension to £60,000. Whilst this is a considerable amount of money, and probably only something the better off can afford to consider, this allowance is reduced above a certain threshold. The rules are complex. However, in a nutshell, if someone has a “threshold income” in excess of £260,000 pa, they lose £1 of the Annual Allowance for every £2 they exceed the limit until there is only £10,000 left. Howev ..read more

Positive: Professionalism, Quality Great professional advise form a dedicated female adviser. Denise helped us with our pensions and savings for the kids later on. Very thorough and help me understand how the investments and interest work. We would whole-heartedly recommend a chat with Denise to plan for your future. Gav Grieves Local Guide · 113 reviews · 50 photos The post Gav Grieves 5* Google review appeared first on Rutherford Hughes Ltd ..read more

Positive: Professionalism, Quality, Responsiveness I’ve been delighted with the way they have managed our portfolio especially in very volatile times. They have stayed in touch and exceeded our expectations.I would definitely recommend. Jane Mitchinson The post Jane Mitchinson 5* Google review appeared first on Rutherford Hughes Ltd ..read more

I have been a customer now for a few years which has been all very positive with great levels of Professional advice , accurate details and note keeping which has always been followed up and actioned as required. The speed of response from David Hughes has been outstanding and also worth noting is they are easy to reach or talk with , which adds a high level of reassurance to me as a customer. From the start and the present they have exceeded my expectations. The post Martin Nuttall 5* Google review appeared first on Rutherford Hughes Ltd ..read more

17 November 2022 Jeremy Hunt used the Autumn Statement in an attempt to calm markets and reset public finances with a series of tax rises achieved through cuts and freezes to allowances. In his first few days in office, he had already reversed most of the measures announced in his predecessor's September Mini Budget. But today he went further by cutting the CGT annual exemption, lowering the additional rate threshold to £125,140 and extending the freezing of other allowances by a further two years. These measures amplify the need for clients to make the most of annual tax allowances, and max ..read more