Insights
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Smart Money Newsletter | Jan/Feb
Welcome to our latest issue. Like your car, your finances require consistent care and attention to keep running smoothly. Just as a regular service ensures your vehicle performs at its best and avoids costly breakdowns, a yearly financial check-up is vital to ensuring your money works as effectively as possible. On page 10, we look at why the beginning of 2025 offers an ideal opportunity to take stock of your financial health, setting the tone for a prosperous and secure year ahead.
The end of the tax year is fast approaching, ending on 5 April 2025. This is your opportunity to review your annual allowances and assess how best to make the most of them. With some significant changes to tax allowances in the 2024/25 tax year and further reductions expected in the future, planning ahead is key. On page 03, we explain how to use your allowances now to maximise your wealth by leveraging tax-efficient strategies and minimising liabilities.
Planning your estate is challenging at the best of times. Knowing how to mitigate your liabilities while ensuring your loved ones are cared for takes proper planning and the right tools. The 2024 Autumn Budget Statement announcements could create significant and lasting challenges for rural businesses of all sizes. Under the Chancellor’s proposed changes, from April 2026, IHT reliefs available to farms and family businesses will be restricted. Turn to page 12.
Cuts to the Capital Gains Tax (CGT) exemption mean it is now more critical than ever to arrange your investments tax-efficiently. For the tax year 2024/25, the CGT allowance has been reduced to £3,000, allowing you to make tax-free gains up to this amount. However, any gains above this limit may be subject to CGT. Appropriate planning is essential to ensure your hard-earned investments work efficiently for your future. Turn to page 09 to find out more.
A complete list of the articles featured in this issue appears on page 02.
Time to reset and take control of your financial future?
The start of a new year is more than just a date on the calendar – it’s a chance to hit reset and take control of your financial future. Whether you envision a comfortable retirement, are ready to grow your investments or are focused on safeguarding your wealth, now is the time to act. We’re here to guide you every step of the way, helping you turn today’s goals into tomorrow’s achievements. Please contact us for more information or to start a conversation.
Autumn Statement 2023
The Government’s recent autumn statement covered a variety of topics and set out plans to tackle key points such as inflation, the cost of living and growth amongst others.
We’ve created a comprehensive summary of the statement available here, which lays out the main takeaways you should know about.
Download our Autumn Statement 2023 Update here
Budget 2020
Our guide to Budget 2020 aims to provide a clear and concise commentary of the main Budget proposals, focusing on the issues pertinent to you, your family and your business.
The new Chancellor of the Exchequer, Rishi Sunak, delivered his inaugural Budget to parliament on 11 March 2020, amid the backdrop of a growing threat to the economy from the global outbreak of coronavirus (COVID-19) – this Budget he announced aims to bring ‘stability and security’.
He warned of a temporary disruption to the economy from COVID-19. He said it will be ‘tough’ and ‘significant’, but things will return to normal. ‘What everyone needs to know is that we are doing everything we can to keep this country, and our people, healthy and financially secure.’
Download the Budget Summary pdf here
Parliamentary Review 2016/2017
Temple Wealth Management is delighted to announce that we feature alongside the Prime Minister and a small number of outstanding organisations in a document that looks back on the year in industry and Westminster. The Review showcases best practice as a learning tool to the public and private sector.
The Finance section 2016/2017 reflects on a significant year in British Politics. The forewords by The Rt Hon Theresa May MP and The Rt Hon Philip Hammond MP share their insights to move the economy forward.
Neil Prosser and Sarah Geraghty represented Temple Wealth at the Gala Review, which was held at the Houses of Parliament in September. It was attended by many influential people from the Finance Industry, including a speech from the Rt Hon Sir Eric Pickles.
Download the parliamentary review here.