Clearmoney March/April 2019

Welcome to our latest issue. Robert Kiyosaki, the American businessman and author of the best-selling book Rich Dad, Poor Dad, once remarked, ‘Making money is common sense. It’s not rocket science. But unfortunately, when it comes to money, common sense is uncommon.’ As we continue into 2019 with the uncertainties surrounding Brexit, we look to de-mystify the ever-changing landscape of the financial world.

Where better place to start off than tax-efficient investing? Each tax year, we are each given an annual Individual Savings Account (ISA) allowance. The ISA limit for 2018/19 is £20,000, and anyone wishing to utilise their allowance should do so before the deadline at midnight on Friday 5 April 2019. The date marks the end of the 2018/19 tax year. It is a ‘use it or lose it’ allowance, meaning that if you don’t use all or part of it in one tax year, you cannot take that allowance over to the next year. To find out more about your ISA options.

Over time, with life expectancy and the cost of living rising, it could mean that some retirees are at risk of running out of pension income in later life. We consider what you can do to make sure that you have a big enough pension to meet your needs for your entire retirement.

This time of year is your last chance to get your tax affairs in order before the end of the 2018/19 tax year. We’ve provided a summary of some key tax and financial planning areas which may be appropriate to certain taxpayers and should be considered prior to the end of the tax year.

At the time of writing, the UK Government is still in negotiations with the European Union over the terms of its planned withdrawal on 29 March 2019. The challenges facing the UK economy are unclear. We look at some potential financial scenarios.

We hope you enjoy this issue. A full list of the articles featured in this issue appears opposite.

To request a hard copy, contact marketing@fairstone.co.uk

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