Money Matters 2024

The latest editions of our Money Matters guides are now available to download below. Providing topical commentary on all aspects of financial planning, these guides are intended to bring a few important issues to your attention.

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Money Matters: May/June 2024 Editions 

Welcome to our latest issue. As we embark on the new tax year, we consider why reviewing your pension savings strategy presents an opportune moment, setting a solid foundation for future financial stability. Early attention to your private pension at the onset of the fiscal year is not just about cultivating beneficial saving habits; it's also about ensuring you take advantage of the benefits and allowances available to you.

 Individual Savings Accounts (ISAs) offer a versatile and tax-efficient way to save for the future, whether for yourself, your children or grandchildren. Now that we have entered the new financial year, significant changes to ISAs have been introduced. From 6 April, savers and investors now have a more flexible approach to using their ISA allowance. For the first time, individuals can open multiple accounts of the same type of ISA within a single tax year, from 6 April one year to 5 April the next, provided they do not exceed the annual ISA limit. 

The financial implications of care in later life are often underestimated, leaving many unprepared for the substantial costs associated with care homes. We look at why establishing a thorough wealth strategy is key to ensuring financial readiness for long-term care needs.

Inheritance Tax (IHT) represents a significant consideration for anyone looking to pass on assets to the next generation. With the IHT threshold frozen until at least April 2028, understanding how to manage your estate's potential IHT liability is more crucial than ever.

Please contact us on 01494 451441 or by email enquiries@chilternconsultancyltd.com if you require further information.

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Money Matters May/June 2024 Guide to Building a Bigger Pension Pot Guide to ISA's Guide to Estate Planning