Wealth Management News

Pensions, investment and protection specialists

Inheritance Tax: The things you need to know

Inheritance tax is a tax on the estate of someone who has died, and with property prices continuing to rise along with the recent introduction of the residence nil rate band (RNRB), the number of people that will become liable for inheritance tax will only increase....

What is an Enterprise Investment Scheme and what are the benefits?

EIS: A brief background In 1994, the Government launched a scheme called ‘The Enterprise Investment Scheme’ or EIS for short, and this scheme was created in order to encourage individuals to invest in companies that were in the early stage of their lifespan. It was...

Brexit: impact on investments, pensions and tax

On 23rd June 2016 the UK voted to leave the European Union. Brexit has created an air of uncertainty and no one really knows what’s coming next or what it could all mean in the long term; however, many individuals are rightly concerned about what the UK's decision to...

Brexit: tax implications as the UK votes to leave the EU

From the argument over selling bendy bananas to the threat of an emergency Budget, the EU referendum campaign has undoubtedly had its share of the headlines over the past couple of months. The biggest headline now though is of course that the UK has voted to leave the...

One year on from the 2015 new pensions rules – key stats

According to HMRC figures released last month, over 230,000 people have used the new pension rules, introduced one year ago, to access over £4.3bn in pensions saving. Since the pension flexibility rules took effect from 6 April 2015: 232,000 individuals have accessed...

The new Lifetime ISA – details beyond the tax free headlines

One of the more welcome announcements for individuals and "the next generation" from the recent 2016 Budget was the introduction of the new Lifetime ISA in April 2017. This is a new measure aimed at helping those under 40 save for their retirement and/or the purchase...

Changes to tax relief on pensions for high earners from 2016/17

Are you aware of the changes to tax relief on pensions for high earners for 2016/17? If you are a higher earner, pension contributions can be a very tax efficient way of saving for your future. However, changes are due to come into force from 6 April 2016 which will...

Changes to the taxation of saving income

There are significant changes to the income tax rules from 6 April 2016 which affect the taxation of savings income. From 6 April 2016, if you are a basic taxpayer you may be able to receive up to £1,000 in savings income tax free. Higher rate taxpayers will be able...

Dividend changes 2016 – clarification of rules now given

In the Summer 2015 Budget the Chancellor announced big dividend changes with effect from 6 April 2016. Following the announcement last year we answered some key questions: How will the new tax work? What does the new dividend tax come into force? Will the new dividend...

HLB members discuss key topics in the Netherlands

A group of personal wealth advisors from within the HLB International network met for a meeting in Tilburg, the Netherlands, on 20 and 21 November 2015.  There were representatives present from the USA, the Netherlands, Belgium, France, Germany, Ireland, Spain and the...

Maximising the opportunities for pensions tax relief

How can you maximise the opportunities for pensions tax relief following the big pension reforms? The recent substantial changes to the rules for accessing money purchase pensions and the treatment of funds remaining on death has sparked increased interest in pension...

Natasha Fathers joins growing Hawsons Wealth Management team

Hawsons Wealth Management are delighted to announce that Natasha Fathers has joined the firm as an Independent Financial Adviser. Natasha is an experienced financial adviser having worked in financial services throughout her career, both across Yorkshire and at a...

Are charities really prepared for auto enrolment?

Are charities really prepared for auto enrolment? The law on workplace pensions has changed and by 2017 every organisation in the UK, including charities, must automatically enrol their employees. The ability of pension providers to provide solutions is becoming a...

Auto enrolment – bigger costs for those that wait

The law on workplace pensions has changed with the recent onset of auto enrolment. There are hundreds of thousands of smaller companies across the UK approaching their staging date, and between now and April 2017 millions of workers will be automatically enrolled into...

Clarification on automatic enrolment and directors

As automatic enrolment continues to take stride across the UK, with the latest wave of firms with fewer than 30 employees being phased in, there are still many cloudy areas surrounding the regulation. In particular, the circumstances regarding automatic enrolment and...

Dividend income shake-up: your questions answered

The Chancellor, George Osborne, announced in the Summer 2015 Budget a shake-up in the way dividend income is taxed from April 2016. As the announcement has added to the complexity of the current dividend system the reaction has been, unsurprisingly, one of confusion...

Bank of England economist to speak at June 2015 seminar

Business representatives in the Sheffield area are to be given an “off the record” opportunity on Thursday 18 June 2015 to hear the Bank of England’s latest views on the economy. Economist Will Holman, from the Bank’s agency for Yorkshire & the Humber, will be...

Auto enrolment – are you ready? Big fines for those that delay

From June 1, SMEs employing fewer than 30 staff must be ready to comply with auto-enrolment pension regulations or risk fines of at least £400. Designed to encourage 10 million employees to save towards their retirement, the government regulations are being rolled out...

Pension scams – warnings to those approaching retirement

Those approaching retirement are being urged to be aware of a rise in pension scams, as criminals seek new ways to defraud pensioners. Savers have been urged to be aware of a rise in pension scams, as criminals seek new ways to defraud pensioners. A report produced by...

Savers plan big pension withdrawals after changes

Savers plan to withdraw an average £27,000 Amid greater flexibility in the pensions market, with new freedoms introduced on 6th April 2015, savers are planning to withdraw large sums from their retirement fund this year, a study has found. A study commissioned by...

Key Person Insurance a wise move for many

As you’ll know, in any business, insurance is a basic safeguard of livelihood and future stability. Business protection is all about insuring for the unexpected; protecting your business if something goes wrong. Making sure you have cover for buildings and contents,...

What Budget 2015 means for pensions

After the revolutionary pension reforms and new flexibilities that came from the 2014 Budget, this year, in comparison, announced only minor changes. The further changes to pensions that the Chancellor introduced in the 2015 Budget included plans for a secondary...

Pension wise launched by government

The government has announced the launch of 'Pension wise' which will offer free and impartial guidance to people on the new pension freedoms which comes into effect in April. Economic Secretary to the Treasury Andrea Leadsom has unveiled the name and logo of the new...

The big pension changes and how they impact you

The pension world is changing! Even if you are years away from retirement, the pensions reforms are going to have a big impact on your future and millions could end up worse off than under existing rules. It is therefore crucial you understand the changes and tax...

Proposed pension reforms: things you should know

Understanding the pension system can sometimes be a complex process. This article outlines 6 things you need to know about the proposed pension reforms. 1. Withdraws from pensions set to be treated as income One of the biggest changes announced with the new reforms is...

Pension freedom 2015 – a flexible future?

In the 2014 Budget, George Osborne announced 'pensioners will have complete freedom to draw down as much or as little of their pension pot as they want, anytime they want'. Some of the changes have already taken effect but the big changes will come into effect on 6...

Salary sacrifice – big benefits for employers & employees?

Implementing a salary sacrifice arrangement can save both employers and employees money! There are savings in the employee's NIC payable on the salary sacrificed of up to 12% and the employer's NIC payable on the salary sacrificed of 13.8%. One of the most important...

Pensions Regulator uses formal powers over Auto Enrolment

The Pensions Regulator (TPR) has issued the first quarterly bulletin which details how many times it has needed to use its formal powers to ensure employers comply with their automatic enrolment duties. The first of the new quarterly bulletins shows the regulator had...

Pension changes following Budget 2014

The Chancellor has announced a range of significant measures to bring greater flexibility to individuals who want to access funds in defined contribution pension schemes. Some changes to the current restrictive rules will come into effect from 27 March 2014 whilst...

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