2023 was the year that interest rates had a resurgence, and for the first time since 2008, the rate rose above 5%. Here we look back on the past year, and how it demonstrates the importance of context and spending ‘time in the market’ is when making financial decisions...
Whilst many professionals such as lawyers and accountants have excellent financial knowledge and experience, many can be guilty of neglecting their own personal finances due to lack of time.
Steve Preston joined Armstrong Watson in 2022, after 15 years with BDO in Leeds, at the time the firm acquired ASE Professional Services in Manchester. He has already made a significant contribution to the audit service line and now heads up the Manchester office and Automotive sector.
If your pension savings are less than £1,073,000, and you wish to take a lump sum, then you will still get 25% of the pot tax-free, up to a maximum of £268,250. However, if you have more than £1,073,000 in your pension, the tax-free element will be less than 25%.
As we move towards the end of another tax year, it is worth considering whether you hold assets in a company that is no longer required. It may be that the shareholders are considering retirement or that the purpose of the company has come to an end...
Armstrong Watson is delighted to announce the appointment of new Tax Director Hayley Deeming, who will lead the firm's Corporate Tax team in Newcastle.
With the tax year-end now in sight, it’s important to review your allowances – a number of key allowances and thresholds are currently frozen until at least 5th April 2028 – and whether you will have made full use of them by the end of the tax year.
After another year of changing rules and regulations - the removal of the lifetime allowance and the increase to the annual allowance alongside the implementation of the McCloud remedy - the pension landscape for NHS members has never been more complex. But how do these changes impact your NHS pension?