COVID-19 hub: Personal finance

03/06/2020 - Retirement is a major life event and financial peace of mind is a vital component. It is difficult to enjoy your later years if you are worried about whether you will run out of money, or are unsure how much is enough. Those with a well-considered plan are in a better position to enjoy a fulfilled and happy retirement from day one.

27/05/2020 - Pension planning; an opportune time to review your current level of pension funding?

22/05/2020 - A Family Investment Company (“FIC”) is a useful vehicle for both passing wealth to the next generation and as an investment vehicle in its own right.  It also has potential inheritance tax (“IHT”), income tax and capital gains tax benefits.  Now is a particularly good time to be establishing a FIC, given current depleted asset values.

14/05/2020 - Generations Y (millennials) and Z are not just used to working with technology, it is truly embedded in their daily lives. Few of them would understand the notion of being online or offline, rather acknowledging rare moments when they are not attached to a connected device (e.g. scuba diving). How might these intrinsic skills be captured for the benefit of business owning families?

14/04/2020 - For some companies, the coronavirus pushes people in their direction. With so much time to be spent at home, a Netflix subscription now seems perhaps the best value £5.99/month that one can spend.

02/04/2020 - Efforts to halt the spread of coronavirus have hit the sporting world hard. The Premier League is suspended until at least the end of April, the Olympics until next year and many other sporting fixtures postponed or cancelled. Unable to play, sports people may already be seeing a hit to their income.

31/03/2020 - There is no road map for private individuals to navigate the current crisis, which is proving to be an extremely testing time for everyone. However, there are some tax opportunities investors could consider to cushion the blow.

24/03/2020 - Does “business as usual” (BAU) ever exist for complex families with substantial assets? Whatever one’s view on that question, current challenges might suggest a renewed look at the basic principles of effective family governance (EFG).