Autumn Bulletin 2022
As the autumn draws to a close, and Christmas is on the horizon, it is a chance to catch up with friends and family without the restrictions of the previous few years. However, the cost-of-living crisis is still at the forefront of everyone’s minds and pockets, and, together with striking workforces, it is a stressful time for households and businesses alike.
With the recent Autumn Statement providing a small amount of stability and certainty, particularly concerning tax rates and allowances, now may be the time to review financial plans with loved ones, ensuring that family funds are positioned in the best way to weather the crisis, and businesses can ensure they have the funding to continue trading when costs are spiralling.
Some features of the Autumn Bulletin include:
- Interest rate rises lifting annuity rates – with bank interest rate rises comes increases in annuity rates, are you in a position to benefit from this?
- No fault divorces – with the change in the law surrounding no blame in the divorce process, it shouldn’t mean you skip the financial advice for any financial remedy that is awarded as a result.
- Still time to increase your state pension – any gaps between 2006/07 and 2015/16 can be funded relatively cheaply, but only until 5 April 2023.
Now is a great time to put in place any financial plans to maximise your allowances before the end of the tax year. We are happy to discuss anything arising from the topics addressed in our newsletter, or any other matters that are relevant to you. Our next edition will be with you in the winter.