Duncan McDonald Continuum

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Duncan McDonald Continuum

Continuum has been created by some of the most experienced people in the financial industry to deliver a modern financial planning advisory partnership.

23/03/2023

https://mycontinuum.co.uk/tax-year-end-planning-checklist-2/

At Continuum we have put together a tax changes checklist – with tax topics you may want to check now.

Before the new tax year, you need to understand the changes, the impact they will have on your financial plans and what you can do about them.

23/03/2023

https://mycontinuum.co.uk/spring-budget-special/

An overview of the Spring Budget.

"The budget has included very few surprises and the impact on your finances might not seem to be too dramatic. However, any change in taxation and allowances could have a long term effect on your financial plans.

There are already some changes to taxes planned for the new tax year which starts next month, and the budget might present some new ways to reduce your tax burden – particularly by taking full advantage of the changes to pension allowances."

The economic outlook for 2023-24 is less bleak now than it was last year. What did Jeremy Hunt announce in the Spring Budget 2023?

23/03/2023

https://mycontinuum.co.uk/how-emergency-savings-can-help-make-you-money/

I always recommend to my clients to hold the equivalent of 3-6 months of income as cash savings that you can call on in an emergency. This can then be held in an account to earn you some interest, whether it be an Instant Access Savings Account; Regular Savings Account; Fixed Term Account or a Cash ISA.

"If you have cash savings – whether it’s your emergency fund or savings for a short-term goal – you can currently earn up to 5% on cash in an easy access account and as much as 7% from a regular savings account. True, these rates are still below the rate of inflation, but if the Bank of England’s predictions are to be believed, prices will soon stop rising, and that kind of interest on your savings will actually grow your wealth."

Many advisors recommend having the equivalent of 3-6 months of income as cash savings that you can call on in an emergency.

02/03/2023

https://mycontinuum.co.uk/7-ways-to-cut-your-tax-bill-in-the-new-tax-year/

Some tips to make the most of your tax allowances before the end of the financial year to cut your tax bill.

It looks as though it is time to look at ways of making the most of what tax allowances remain. At Continuum we have some suggestions.

01/03/2023

https://mycontinuum.co.uk/is-there-any-good-news-on-house-prices/

An interesting read regarding the housing market and where we are currently. The peak of interest rates appear to have fallen, house prices have not dropped as much as expected and now could be a good time for a first time buyer if you have a sizeable deposit.

Anxious houseowners, investors and would-be buyers have been asking what is going to happen to house prices since the pandemic.

01/03/2023

https://mycontinuum.co.uk/good-news-on-the-uk-economy/

"The view from the National Institute of Economic and Social Research (NIESR) is that a UK recession is unlikely in 2023. Rather than either talking up the economy or trying to put a damper on it, they are an academic organisation, with no hidden agenda. Their view might be clearer than other observers."

"Things seem to be improving, but many people are still feeling the financial pressure. There will be a budget in March, and what really happens to the economy next could depend on its contents."

The view from the National Institute of Economic and Social Research (NIESR) is that a UK recession is unlikely in 2023.

10/02/2023

https://mycontinuum.co.uk/is-now-the-time-to-look-at-your-pension/

The state pension is set to rise in April thanks to the Triple Lock Policy, which means the basic state pension will be £8122.40 per annum and the new state pension will ne £10,200.20 per annum.

With the retirement age expected to rise again sooner than expected to 68 years for new state pension (for those currently under 54years) it is becoming more and more important to have a company or private pension to top this up or to be able to draw on prior to receiving the state pension.

Private pensions put you in charge of your financial planning with more control and flexibility and with tax relief available, it helps you grow your nest egg for whatever you would like to get out of retirement. It is never to early to start thinking about retirement planning so that you can achieve the retirement you deserve and want.

Please get in touch with me if you think I can help with your retirement planning.

The triple lock could be under threat, and the date when you can start claiming your state pension could be going back.

10/02/2023

https://mycontinuum.co.uk/is-there-good-news-for-first-time-buyers/

"According to figures from Yorkshire Building Society, buyers climbing onto the property ladder for the first time accounted for 53% of mortgaged purchases. This was up from 50% in 2021 and 41% a decade ago."

Rocketing house prices and now rocketing interest rates have made things difficult. But there could be good news for first time buyers.

09/02/2023

https://mycontinuum.co.uk/why-inflation-is-starting-to-fall/

"Some of the global drivers behind rising prices are starting to moderate, such as high energy and food prices, where the effects of the increases may have started to work themselves though the system. We have already seen inflation falling in the US. Headline inflation there has fallen to 6.5%, from a high of 9.1% in June 2022. The same factors may be starting to filter through to the UK economy."

Now could be the time to look at financial planning and any potential cash savings to maximise your ISA tax free allowance before the end of the tax year or look at other investment strategies.

Please don't hesitate to contact me if I can help you with financial planning for investments, retirement planning and protection.

Inflation is at the core of the current financial downturn. The Consumer Prices Index passed 11% in the 12 months to October.

09/02/2023

https://mycontinuum.co.uk/6-reasons-why-you-need-a-mortgage-adviser/

A Mortgage Adviser can not only save you time and trouble but can make the difference between getting a mortgage offer and not.

27/01/2023

"Putting a million pounds into your pension pot sounds like an impossible dream. But with the rising cost of living, you might actually need that kind of money to enjoy your retirement to the full. There are a growing number of pensioners who are reaching their century. You could have a retirement that is very nearly as long as your working life.

Why a million? The lifetime allowance for most people is £1,073,100 in the tax year 2022/23 and has been frozen at this level until the 2025/26 tax year. If your pension pot grows larger than your allowance, you could find yourself paying substantial tax penalties on your surplus cash."

Please get in touch with me whether you would like to have an informal chat or some formal advice on your pension plans or retirement planning. Thinking about your retirement can be daunting, but good financial planning can ease some of the worry and put your mind at rest.

At Continuum we are looking at ways to help ensure your retirement can be everything you’ve planned for and more.

27/01/2023

https://mycontinuum.co.uk/will-house-prices-come-down-in-2023/

"Britain’s largest mortgage lenders the Halifax and the Nationwide are predicting UK house prices will fall in 2023, by 8% and 5% respectively – although this drop would not be sufficient to wipe away all the gains made in recent years. According to Halifax, the average house price increased by 23 %, or nearly £55,000 in cash terms, between March 2020 and August 2022. An 8% fall would simply place the average property price back at roughly the level it was in April 2021."

At Continuum we are asking how soaring rates will affect the market and what will really happen to house prices in 2023?

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