Five tips to save tax and optimise your finances
We highlight five financial tips for 2023 (and beyond), including maximising pension plan contributions, using your ISA annual allowance, and the benefits of partnering up with a professional firm on your retirement journey.
Job-changers: What room for improvement does your pension have?
Take stock: Assess your life insurance provisions and retirement planning. Is your workplace pension(s) the best place to invest a lifetime’s earnings?
Reduce IHT bills with an equity release and gifting strategy
Many families have a substantial amount of cash tied up in the family home, which could limit your estate planning options and ability to effectively mitigate inheritance tax charges.
Unlock cash trapped in your home with a lifetime mortgage
Equity release frees up tax-free cash that’s tied up in your property, while you continue to live in your home. Read on to find out if this could be the right option for you.
Is buying an annuity a good use of your hard-earned pension funds?
Annuities have historically been a popular option for pension savers, but low current rates mean that pension pot holders may be better off opting for a ‘flexible drawdown’ approach.
Rising rates – what does it mean for your finances?
Interest rates have hit their highest point since 2009, with rates jumping in the first few months of the year. But how will this affect consumers’ personal finances, and what action should you take amid an environment of rising interest rates and high inflation?
Start the tax year on the front foot
The earlier you plan, the greater your choices and the more potential there is to maximise your financial efficiencies and make tax savings. Here we provide an overview of key factors to consider in the 2022/23 tax year.
Save on National Insurance by swapping pay for pension contributions
Exchanging salary for pension contributions can boost your disposable income. This could be an especially attractive option in light of the National Insurance tax rise, which came into force on 6 April.
Spring Statement 2022 – Tax round-up
We provide a round up of key takeaways from the Chancellor’s Spring Statement, and highlight how consumers can protect their savings as the cost of living continues to surge.
Ask our Expert: How to achieve tax savings
Lumin Managing Director Martin Cotter highlights key tax-saving measures that consumers can implement, including how to optimise pension and ISA annual allowances, and the benefits of capital gains ‘harvesting’.
