In recent months, the issue of the pensions Tapered Annual Allowance has never been far from the headlines. As senior NHS staff cut hours and refused additional shifts in order to avoid a significant tax bill, the government announced an urgent review into the issue in late 2019. During his Budget speech on 11 March 2020, the Chancellor announced the results of that review, and the changes that will be made for the 2020/21 tax year. Of course, it hasn’t just been NHS staff that have been impacted by the taper, so here’s your summary of the changes. Increases in the thresholds that determine the taper During his Budget speech, Rishi Sunak announced that, from 6 April 2020, there will be an increase in the two thresholds that determine whether you are affected by the taper of the annual pension savings allowance, and by how much. These changes will affect both individuals and employers. The rules are complicated so here’s a look at who these changes will impact – both positively and negatively. The current position for individuals In the 2019/20 tax year, if your ‘threshold income’ (broadly, all income including investment income, less certain deductions) is less than [...]
our summary of the key announcements in the Budget 2020 statement, made on Wednesday 11 March, as well as our updated tax tables.
Financial planning firm HFMC Wealth has acquired a London-based adviser in a deal that adds more than £130m in assets under management to the business.
Acquisitive Chartered Financial Planner HFMC Wealth has acquired London wealth manager Aspinalls.
James Tuson, investment manager at HFMC Wealth asks 'are we becoming too complacent about the UK’s 2020 equity rally?
HFMC Wealth - Winner - Citywire New Model Adviser Top 100 South East region
At a time when headlines about Brexit and a Tweet from US President Donald Trump can move markets, savers want to be certain their money is being managed by the best people. FTAdviser’s 2019 Top 100 Financial Advisers list uses quantifiable and objective data to provides a snapshot of the very best intermediaries working in the UK today. The 2019 list of the UK’s top 100 financial advisers list ranks firms by looking at factors that are key to investors seeking the best person to assist them with their finances. These awards are judged by a range of factors, not just how much new investment the advice firm has brought in. We are proud and delighted to be chosen to be 21st in this elite group.
HFMC Wealth, founding lead sponsors of Veloce - Proud winners of Octane’s Breakthrough Event of the Year
The profession is still set up to talk to older generations of clients, something Phil Patient, group chief operating officer and private client wealth specialist at HFMC Wealth, said is acting as a barrier to younger people engaging with advice.
It was the mid-1980s. Hoyland became determined to start a company ‘that did something of value’. Despite being only two years into his City career, he made the risky move to leave...