Latest Wealth Management

Crypto currency does not need to be cryptic!

What exactly is cryptocurrency? Cryptocurrency (crypto) is a form of decentralised digital currency.  Although there is no central issuing and regulating authority like with traditional currencies like GBP or USD, there are still taxes on crypto in the UK. Crypto assets like Bitcoin and Ethereum have always been popular with investors and tech enthusiasts, but…

Property Matters Newsletter: Issue 2

Plan and reflect or reflect and plan? The first few months of the year generally allow for a reflection on the previous year and then planning ahead for the current year, however planning ahead this year looks like it could be even more difficult than normal.   House prices are growing, albeit slowly, mortgage rates…

Probate: Instruct us

Having gained a  licence to deal with non-contentious probate in 2015, Whitings LLP continue to undertake more work to assist executors. This ranges from simple probate applications and filing of relevant forms through to administration of estates, acting as executors in some cases.   The process starts with preparing and periodically reviewing a Will in…

Catch-up any state pension ‘gaps’

Maximising future entitlement to state pension may not be at the forefront of people’s minds, but following the introduction of the new State Pension in 2016, the ability to pay voluntary National Insurance contributions to ‘fill’ gaps will become far more limited from April next year.   You can usually only pay for gaps in…

Whitings Wealth Management Ltd

Whitings Wealth Management is pleased to announce that we have been recognised by Citywire New Model Adviser publication as one of the Top 100 adviser firms in the UK.   Our aim, as it has always been, is to help make your difficult investment, pensions and protection financial decisions a little easier , through support…

New register of overseas entities: Register UK property now

Adding to the plethora of red tape, there is now a requirement for overseas entities (ie a legal entity, such as a company or other organisation, that has legal personality and is governed by the law of a country or territory outside the UK) who own or lease property or land in the United Kingdom…

How much money will you need in retirement?

In working out what income you will need in retirement, there are many factors to take into consideration. You are not only having to look ahead 20, 30, maybe 40 years into the future, you are also having to look at your outgoings in the here and now and having to work out what you…

Relaxation of CGT rules for separating couples

  Tax planning is not often at the top of the to-do list when a couple are separating, however, the timing of asset transfers can make a huge difference for tax purposes.   The rules as things stand   Married couples and civil partners can transfer chargeable assets between them without incurring capital gains tax…

NHS Doctors – 2019/20 Scheme Pays Election & Compensation Policy Application

The extended 31 March 2022 deadline for NHS Doctors to submit their scheme pays elections and compensation policy applications for the 2019/20 tax year is fast approaching.   For those NHS Doctors that suffered an annual allowance pension tax charge in the 2019/20 tax year had the option to either pay the charge directly to…

Pensions experts say a minimum of £10,900 a year needed to retire

A single person will need post-tax annual income of £10,900 for a minimum standard of living in retirement, according to the Pensions and Lifetime Savings Association (PLSA).   The minimum retirement living standard is based on the Joseph Rowntree Foundation’s Minimum Income Standard and covers a typical retiree’s basic needs plus enough for some social…