Lovely letter from our MP @JamesFrith delighted that we raised money for Papyrus - preventing young suicide - at our Charity pub quiz.
Hopefully Spring is now here and "T-shirt weather" (remember?) on it's way....
With the new tax year starting and many changes to Pensions being introduced, here are a few tips to get your finances in order this Spring:
The unrestricted access to pensions for over 55's does not just mean you can take out what you want, when you want - our first tip is to TOP UP YOUR PENSION. Pensions still remain highly tax efficient, especially if you have employer matching contributions.*1
The second tip is to REVIEW YOUR INVESTMENTS. Banks are competing for your custom at the moment and some interest rates are higher than normal. An annual review is healthy and the start of the new tax year is as good a time as any.*2
MAXIMISE YOUR ALLOWANCES - another good tip is to check that you are receiving all the benefits you are entitled to as HMRC will not come to you!*3
QUESTION YOUR TAX CODE - do not just accept what is given to you by HMRC as it is your responsibility to spot any mistakes. Changes to NI contributions for the self employed, for instance, will require the individual to keep their eyes on payments being taken as these may change.*4
*1-4 are just a few areas to look at - what helps most though is to sit down with your financial adviser and talk through how/where/what/when to Spring Clean - or leave well alone - they will know best!